U.S. Rig Count Moves Upward; Eagle Ford Stays Flat

U.S. Rig Count Moves Upward; Eagle Ford Stays Flat

U.S. Rig Count Moves Upward; Eagle Ford Stays Flat

The Eagle Ford Shale rig count remained flat this week with34 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, Marathon Oil will pay $7320 after failing to conduct performance tests and for exceeding the natural gas production rates by 5.43 million standard cubic feet per day at the company’s Live Oak facility.

Read more:Marathon Fined for Eagle Ford Infractions

A total of 439 oil and gas rigs were running across the United States this week, an increase of 10 over last week. 88 were targeting natural gas (one less than the previous week) and 351 were targeting oil in the U.S. (10 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 201 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

There are six natural gas rigs running across the Eagle Ford, wth natural gas prices dipping this week to $2.80/mmbtu.

The Eagle Ford rigs targeting oil remained at 28 with WTI oil prices dropping to $45.24, a $3.94 decrease this week. A total of 32 rigs are drilling horizontal wells, one is drilling directional wells, and one is vertical.

Karnes County leads development in the region gaining two to 10 rigs running this week. See the full list below in the Eagle Ford Shale Drilling by County below.

Eagle Ford Shale Drilling by County

agle Ford Shale News

Eagle Ford Midstream Deal Worth $44 Million

Marathon Fined for Eagle Ford Infractions

Sitton: Frack Ruling Right Decision

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