Eagle For Rig Counts Slips to 40

April 23, 2016 Elizabeth Alford

The Eagle Ford Shale rig count fell by two, ending the week with 40 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, Goodrich Petroleum announced that they are seeking to eliminate approximately $400 million in debt through a Chapter 11 restructuring plan.

A total of 431 oil and gas rigs were running across the United States this week, down one from last week. 88 were targeting natural gas (seven more than the previous week) and 343 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.)187 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 at five this week as natural gas prices jumped to $2.14/mmbtu.

The Eagle Ford rigs targeting oil fell this week to 35 as WTI oil prices continue their climb, ending the week at $43.73, a 3.37 increase this week. A total of 38 rigs are drilling horizontal wells, zero are drilling directional wells, and two are vertical rigs.

Karnes and Webb counties both lead development in the region each running with 10 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

Oil Import Quotas Proposed

Abraxas: 20% Pay Cuts for Top Executives

Goodrich Petroleum Files for Chapter 11

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 Falls to 42

April 15, 2016 Elizabeth Alford

The Eagle Ford Shale rig count decreased by four, ending the week with 42 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, the Texas Comptroller announced that low crude prices triggered a 50% severance tax exemption on low producing ‘stripper' wells.

A total of 432 oil and gas rigs were running across the United States this week, which is a drop of 11 over last week. 81 were targeting natural gas (eight more than the previous week) and 351 were targeting oil in the U.S. (three less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)194 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 at five this week as natural decreasing slightly trading at $1.90/mmbtu.

The Eagle Ford rigs targeting oil fell by four this week to 37 with WTI oil prices landing at $40.36, a 3.57 increase this week. A total of 40 rigs are drilling horizontal wells, zero are drilling directional wells, and two are vertical rigs.

Karnes County continues to lead the region in development with 11 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

Phoenix Natural Resources to Focus on Eagle Ford

Tax Breaks for Low Producing Wells

Texas Oil & Gas Permits Drop

What is the Rig Count?

Read more at bakerhughes.com

Eagle Ford Rig Count Back to 48

April 2, 2016 Elizabeth Alford

The Eagle Ford Shale rig count increased by one, ending the week with 48 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, the number of lawsuits in the region have increased with the drop in crude prices. Texas courts are seeing everything from royalty, lease and title complaints to more complicated contract disputes involving major investors.

A total of 450 oil and gas rigs were running across the United States this week, which is a drop of 14 over last week. 88 were targeting natural gas (four less than the previous week) and 362 were targeting oil in the U.S. (10 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)204 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 fell to three this week as natural gas prices improved slightly, trading at $1.96/mmbtu, a $.15 increase from the previous week.

The Eagle Ford saw an increase in running oil rigs up this week to 45 with WTI oil prices ending the week at $36.79, a decrease of $2.67 over last week. A total of 43 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 11 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

Karnes County Couple Petitions Texas Supreme Court

Mineral Litigation Surges in Texas

Eagle Ford School Districts Give Back Millions

What is the Rig Count?

Read more at bakerhughes.com

Eagle Ford Shale Rig Count Drops to 47

March 25, 2016 Elizabeth Alford

Eagle Ford producers are continuing to sideline rigs.

The Eagle Ford Shale rig count ended the week with 47 rigs running across our coverage area by midday Thursday.

In recent Eagle Ford news, the Texas Workforce Commission reported last week that two companies that service Eagle Ford Shale will lay off 174 people.

A total of 464 oil and gas rigs were running across the United States this week, which is a drop of 12 over last week. 92 rigs targeted natural gas (three more than the previous week) and 372 were targeting oil in the U.S. (15 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)209 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 fell by on to four this week as natural gas prices dipped, trading at $1.81/mmbtu, a $.12 decrease from the previous week.

The Eagle Ford saw fewer rigs targeting oil rigs this week, with 43 running across the region. WTI oil prices ended the week at $39.46, a decrease of $.18 over last week. A total of 42 rigs are drilling horizontal wells, zero are drilling directional wells, and five are vertical rigs.

Karnes County continues to lead the region in development but dropped to 11 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

Battle Over Eagle Ford Investment in Hands of Texas High Court

Wastewater Facility in Jeopardy

The Eagle Ford Loses More Jobs

What is the Rig Count?

Read more at bakerhughes.com

Eagle Ford Rig Count Inches Up

March 19, 2016 Elizabeth Alford

The Eagle Ford Shale rig count increased by four, ending the week with 52 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, in the wake of the shale boom hundreds of roadways in South Texas are in disrepair and will likely cost communities hundreds of millions of dollars to fix.

A total of 476 oil and gas rigs were running across the United States this week, which is a drop of nine over last week. 89 were targeting natural gas (four less more than the previous week) and 387 were targeting oil in the U.S. (one more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)217 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 fell by on to five this week as natural gas prices improved slightly, trading at $1.93/mmbtu, a $.11 increase from the previous week.

The Eagle Ford saw an increase in running oil rigs up this week to 45 with WTI oil prices ending the week at $39.64, an increase of $1.05 over last week. A total of 45 rigs are drilling horizontal wells, zero are drilling directional wells, and seven are vertical rigs.

Karnes County continues to lead the region in development with 13 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

Clayton Williams Stops Eagle Ford Drilling

Earthstone Reports ‘Decent’ Q4

Eagle Ford County Roads a Mess

What is the Rig Count?

Read more at bakerhughes.com