Eagle Ford Rigs Now Below 100

Eagle Ford Rig Counts
Eagle Ford Rig Counts

The Eagle Ford Shale rig count fell below 100, ending the week with 98 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, new data is showing the state has lost 28,300 jobs oil and gas jobs since December. 

Read more:Texas Oil & Gas Jobs Decline

The U.S. rig count fell by 14 this week, ending with 795 rigs running by midday Friday. A total of 189 rigs were targeting natural gas (six less than the previous week) and 605 were targeting oil in the U.S. (9 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)353 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 below.

Eagle Ford Oil & Gas Rigs

Natural gas rigs in the Eagle Ford are at 13 this week as natural gas prices traded at $2.49/mmbtu, a $.02 increase from the previous week.

The oil rig count is at 84 and WTI oil prices ended the week at $50.18, an increase of $4.52. A total of 88 rigs are drilling horizontal wells, two are drilling directional wells, and eight are vertical rigs. Karnes County leads the region in development with 23 rigs this week. 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