The Eagle Ford Shale rig count declined by six this week with 81 rigs running across our coverage area by midday Friday.
In recent Eagle Ford news, congress' action to lift the oil export ban is indeed wonderful news for the Eagle Ford, evidenced by the companies who have moved quickly to get their product out the door.
Read more:First Eagle Ford Crude Ships to Europe
A total of 664 oil and gas rigs were running across the United States this week. 148 were targeting natural gas (14 less than the previous week) and 516 were targeting oil in the U.S. (20 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.)308 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 seven this week as natural gas prices rose slightly, trading at $2.47/mmbtu, a $.14 increase from the previous week.
The Eagle Ford oil rig count fell to 74 with WTI oil prices ending the week at $33.16, a decrease of $4.41. A total of 74 rigs are drilling horizontal wells, one are drilling directional wells, and six are vertical rigs. Karnes County leads the region in development with 18 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