Eagle Ford Rigs Drop to 124

Eagle Ford Rigs Drop
Eagle Ford Rigs Drop

The Eagle Ford Shale rig count fell this week by one with 124 rigs running across our coverage area by midday Friday,

In recent Eagle Ford news, Texas Governor Greg Abbott signed the popularly named, “Denton Fracking Bill” on Monday that allows state authority to override local decisions about oil and gas regulations.

Read more:“Denton Fracking Bill” Now Law

The U.S. rig count fell by three, ending with 885 rigs running by midday Friday.  A total of 222 rigs were targeting natural gas (a decrease of one from the previous week) and 659 were targeting oil in the U.S. (one less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)373 of the rigs active in the U.S. were running in Texas.

Baker Hughes reports its own Eagle Ford Rig Count that covers the 14 core counties. The rig count published on EagleFordShale.com includes a 30 county area impacted by Eagle Ford development. A full list of the counties included can be found in the table near the bottom of this article.

Eagle Ford Oil & Gas Rigs

Natural gas rigs in the Eagle Ford fell to 21 this week and natural gas prices traded at $2.89/mmbtu, an decrease of  $.13 from the previous week.

The oil rig count increased to 103 with WTI oil prices inching upwards this week to $59.72, an increase of $.21. A total of 116 rigs are drilling horizontal wells, zero rigs are drilling directional wells, and vertical rigs stayed at eight.  Karnes county leads Eagle Ford drilling this week running 21 rigs, while LaSalle (19) and Webb (18) following closely. See the full list below in the Eagle Ford Shale Drilling by County below.


Eagle Ford Shale Drilling by County

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What is the Rig Count?

The Eagle Ford Shale Rig Count is an index of the total number of oil & gas drilling rigs running across a 30 county area in South Texas. The South Texas rigs referred to in this article are for ALL drilling reported by Baker Hughes and not solely wells targeting the Eagle Ford formation. All land rigs and onshore rig data shown here are based upon industry estimates provided by the Baker Hughes Rig Count.

Read more at bakerhughes.com