Eagle Ford Rig Count Slips to 48

March 11, 2016 Elizabeth Alford

The Eagle Ford Shale rig count fell again this week leaving 48 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, EOG Resources reported a record 2015 marked by reduced costs, improved productivity, and outstanding well performance in the Eagle Ford.

A total of 480 oil and gas rigs were running across the United States this week, which is a drop of nine over last week. 94 were targeting natural gas (three less more than the previous week) and 386 were targeting oil in the U.S. (six less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)215 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 increased in the Eagle Ford remained steady at six this week as natural gas prices improved slightly, trading at $1.82/mmbtu, a $.15 increase from the previous week.

The Eagle Ford oil rigs dropped to 42 with WTI oil prices ending the week at $38.59, an increase of $3.12 this week and close to $10 over the past 30 days. A total of 44 rigs are drilling horizontal wells, zero are drilling directional wells, and four are vertical rigs.

Karnes County continues to lead the region in development with 12 running rigs. See the full list below in the Eagle Ford Shale Drilling by County below.

Eagle Ford Shale News

EOG Highlights Eagle Ford Well Performance

Baytex Reports Strong Q4

Fracking Facts: A Healthier Alternative to Coal

Carrizo Focuses on Eagle Ford

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

Eagle Ford Rig Count Down to 52

March 4, 2016 Elizabeth Alford

The Eagle Ford Shale rig count fell by one this week leaving 52 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, the latest numbers produced monthly by Comerica Bank show the Texas Economic Activity Index continues to decline and pessimism reigns.

A total of 489 oil and gas rigs were running across the United States this week, which is a drop of 13 over last week. 97 were targeting natural gas (five less more than the previous week) and 392 were targeting oil in the U.S. (eight less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)227 of the rigs active in the U.S. were running in Texas.

Eagle Ford Oil & Gas Rigs

Natural gas rigs increased in the Eagle Ford remained steady at six this week as natural gas prices continued to dip trading at $1.67/mmbtu, a $.12 decrease from the previous week.

The Eagle Ford oil rigs dropped to 46 with WTI oil prices ending the week at $35.81, an increase of $3.12. A total of 47 rigs are drilling horizontal wells, zero are drilling directional wells, and five are vertical rigs.

Karnes County continues to lead the region in development with 12 running rigs. See the full list below in the Eagle Ford Shale Drilling by County below.

Eagle Ford Shale Drilling by County

Eagle Ford Shale News

Ex-Chesapeake Chief Killed in Car Crash

Fracking Facts: Cleaner Than Coal

Texas Economic Index Declines

Sanchez Reports Strong 2015

What is the Rig Count?

Read more at bakerhughes.com

Eagle Ford Rig Count Falls Below 60

February 26, 2016 Elizabeth Alford

The Eagle Ford Shale rig count is continuing to fall rapidly with Baker Hughes reporting 53 rigs running across our coverage area by midday Friday, a drop of nine rigs since last week.

In recent Eagle Ford news, Marathon Oil plans to spend $1.4 billion with $600 million set aside for Eagle Ford. Most of that amount, ($520 million) will be used for drilling and completions.

A total of 502 oil and gas rigs were running across the United States this week, which is a drop of 12 over last week. 102 were targeting natural gas (1 more than the previous week) and 400 were targeting oil in the U.S. (13 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)231 of the rigs active in the U.S. were running in Texas.

Eagle Ford Oil & Gas Rigs

Natural gas rigs increased in the Eagle Ford to six this week as natural gas prices remained stable, trading at $1.79/mmbtu, a $.01 decrease from the previous week.

The Eagle Ford oil rigs dropped by 10 to 47 with WTI oil prices ending the week at $32.76, an increase of $3.12. A total of 49 rigs are drilling horizontal wells, zero are drilling directional wells, and four are vertical rigs.

Karnes County fell by two this week but continues to lead the region in development with 12 running rigs. See the full list below in the Eagle Ford Shale Drilling by County below.

Eagle Ford Shale Drilling by County

Eagle Ford Shale News

Cabot Reduces Spending & Activity in Eagle Ford

Marathon Oil: 42% of 2016 Budget to Stay in the Eagle Ford

Chesapeake Will Release all Eagle Ford Rigs

Comstock: Eagle Ford Not ‘Drillable’ in this Market

What is the Rig Count?

Read more at bakerhughes.com

Rig Counts Continue to Decline

February 20, 2016 Elizabeth Alford

The Eagle Ford Shale rig count fell by three this week with 62 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, deposits are shrinking for Eagle Ford banks for the first time since 2010 as 15 community banks report losing a combined $111 million in deposits last year, down 3.5% from 2014.

A total of 514 oil and gas rigs were running across the United States this week, which is a drop of 48 over last week. 101 were targeting natural gas (1 less than the previous week) and 413 were targeting oil in the U.S. (26 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)236 of the rigs active in the U.S. were running in Texas.

Eagle Ford Oil & Gas Rigs

Natural gas rigs in the Eagle Ford are at five this week as natural gas prices declined, trading at $1.80/mmbtu, a $.16 decrease from the previous week.

The Eagle Ford oil rigs dropped to 57 with WTI oil prices ending the week at $29.64, a decrease of $.06. A total of 57 rigs are drilling horizontal wells, one are drilling directional wells, and four are vertical rigs.

Karnes County leads the region in development with 14 rigs this week. See the full list below in the Eagle Ford Shale Drilling by County below.

Eagle Ford Shale Drilling by County

Eagle Ford Shale News

Pioneer Halts Eagle Ford Drilling

Eagle Ford Banks Feeling the Downturn

Devon Energy to Cut 1,000 Jobs

Noble Energy: $150 Million Earmarked for Eagle Ford in 2016

What is the Rig Count?

Read more at bakerhughes.com

Texas-Wide Rig Count Down Another 14

February 12, 2016 Elizabeth Alford

The Eagle Ford Shale rig count fell by three this week with 65 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, President Obama continues to push additional legislation that will push more oil and gas operators out of business. The latest move is a controversial oil tax embedded in his $4.1 trillion budget request he prosed this week.

A total of 541 oil and gas rigs were running across the United States this week, which is a drop of 48 over last week. 102 were targeting natural gas (2 less than the previous week) and 439 were targeting oil in the U.S. (28 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)248 of the rigs active in the U.S. were running in Texas.

Eagle Ford Oil & Gas Rigs

Natural gas rigs in the Eagle Ford are at five this week as natural gas prices declined, trading at $1.96/mmbtu, an $.08 decrease from the previous week.

The Eagle Ford oil rigs dropped to 60 with WTI oil prices ending the week at $29.58, a decrease of $1.74. A total of 60 rigs are drilling horizontal wells, zero are drilling directional wells, and five are vertical rigs.

Karnes County leads the region in development with 15 rigs this week. See the full list below in the Eagle Ford Shale Drilling by County below.