Eagle Ford Regional Rig Count 273 - August 23, 2013

August 26, 2013 R.T. Dukes

I-37 Gravel Road Frontage in Live Oak County - TxDOT

The Eagle Ford Shale drilling rig count increased six rigs to average 273 rigs running over the past week. That's just one rig off the 2013 high set three weeks ago.

The U.S. rig count was down 15 to 1,786, of which 848 are running in Texas. A total of 387 rigs are targeting natural gas and 1,382 are targeting oil in the U.S. The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.).

TxDOT announced it has started converting paved roads to gravel in South Texas. Paved roads can cost $500,000 per mile to maintain, but gravel roads are much cheaper at $10,000. Lawmakers have raised concerns and TxDOT has indicated that some road conversions have been delayed by 60 days. On a case-by-case basis, counties can ask the state to reconsider. Read more in the article: Will Paved Roads In The Eagle Ford Be Converted To Gravel?

*Note* Now quoting Baker Hughes. Baker Hughes also releases its own Eagle Ford Rig Count that covers the 14 core counties (~234 rigs). 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 near the bottom of this article.

Eagle Ford Oil & Gas Rigs

[ic-l]The natural gas rig count declined by three to settle at 40 rigs. That's still up from the low near 30 seen in April and June. Natural gas futures were trading around $3.50/mmbtu.

The oil rig count increased eight rigs to 233 running in the region last week. WTI prices were trading near $106/bbl and have held above $100 for seven weeks. Eagle Ford light crude traded at $103/bbl on August 23rd.

A total of 215 rigs are drilling horizontal wells and just 12 rigs are drilling true vertical wells. McMullen & Karnes counties lead development with 36 and 34 rigs running, respectively. See the full list of drilling by county below.

South Texas Oil & Gas News:

Reminder - Don't miss Tom Tunstall's piece on Texas Ghost Towns & Implications In The Eagle Ford

Be sure to visit our South Texas Oilfield Job Listings to search openings and come back weekly for updates or sign up for alerts - Daily or Weekly Email Alerts

Eagle Ford Shale Drilling by County

Eagle Ford Operated Rig Count By Company

SmithBits no longer reports its operated rig count, but we'll have updated number for you from a new source soon. Until then, you can reference our numbers from mid-April. There has not been a significant change in the overall rig count since this date:

hat 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 and/or Smith Service Co's (Schlumberger) Smith Rig Count.

Eagle Ford Regional Rig Count 267 August 16, 2013

August 16, 2013 R.T. Dukes

The Eagle Ford Shale drilling rig count fell six to average 267 rigs running over the past week. That's seven rigs off the 2013 high set two weeks ago. Oil drilling levels fell six further from the high of 241 set four weeks ago to settle at 224 oil rigs running.

The U.S. rig count was up 13 to 1,791, of which 846 are running in Texas. A total of 388 rigs are targeting natural gas and 1,397 are targeting oil in the U.S. The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.).

Earnings season is coming to a close. We covered big production increases for Conoco and Forest during the second quarter and learned more about Halcon's El Halcon project in Brazos County. Halcon has identified the most productive zone of the Eagle Ford in its region and is driving costs down through faster drilling. Read more in the article: Halcon Focused On El Halcon

*Note* Now quoting Baker Hughes. Baker Hughes also releases its own Eagle Ford Rig Count that covers the 14 core counties (~236 rigs). The rig count published here includes a 30 county area impacted by Eagle Ford development. A full list of the counties included can be found in the table near the bottom of this article.

Eagle Ford Oil & Gas Rigs

[ic-l]One natural gas rig was added in the region to bring the total running up to 43 rigs. That's up from just 30 rigs categorized as targeting natural gas in mid-July. Natural gas futures were trading 3.37/mmbtu on Friday afternoon.

The oil rig count declined by six rigs to 224 running in the region this week. WTI prices were trading just below $107/bbl on Friday and have held above $100 for six weeks. Eagle Ford light crude traded at $103.75/bbl on August 15th.

A total of 211 rigs are drilling horizontal wells and just 11 rigs are drilling true vertical wells. McMullen & Karnes counties lead development with 33 and 32 rigs running, respectively. See the full list of drilling by county below.

South Texas Oil & Gas News:

Reminder - Don't miss Tom Tunstall's piece on Texas Ghost Towns & Implications In The Eagle Ford

Be sure to visit our South Texas Oilfield Job Listings to search openings and come back weekly for updates or sign up for alerts - Daily or Weekly Email Alerts

Eagle Ford Shale Drilling by County

Eagle Ford Operated Rig Count By Company

hat is the Rig Count?

Eagle Ford Regional Rig Count 273 Aug 9, 2013 - EOG Well Better Than Reported

August 9, 2013 R.T. Dukes

EOG Eagle Ford Oil Well Record Production

The Eagle Ford Shale drilling rig count fell one to average 273 rigs over the past week. That's just off the 2013 high set last week. Oil drilling levels fell four rigs further from the high of 241 set three weeks ago to settle at 230 running.

The U.S. rig count is down 4 to 1,778, of which 849 are running in Texas. A total of 386 rigs are targeting natural gas and 1,385 are targeting oil in the U.S. The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.).

Several companies reported earnings this week, but the highlight was EOG reporting its Record Eagle Ford Well In Gonzales County was better than initially reported to the RRC. EOG noted a production rate of more than 9,200 boe/d compared to the RRC report of a little more than 8,600 boe/d. Additionally, the well was producing more than 4,200 barrels of oil per day after 30 days. I'll go out on a limb and say that's going to be a money maker! Read more in the article EOG's Burrow Unit 5H Well Better Than First Reported

*Note* Now quoting Baker Hughes. Baker Hughes also releases its own Eagle Ford Rig Count that covers the 14 core counties (~236 rigs). The rig count published here includes a 30 county area impacted by Eagle Ford development. A full list of the counties included can be found in the table near the bottom of this article.

Eagle Ford Oil & Gas Rigs

[ic-l]Two natural gas rigs were added in the region to bring the total running up to 42 rigs. Natural gas futures were trading near $3.20/mmbtu on Friday afternoon. Cooler summer weather across the country has driven prices down over the past three weeks. Natural gas prices are more than $1 off the highs in late spring.

The oil rig count declined by four to 230 rigs running in the region this week. WTI prices were trading just below $107/bbl on Friday and have held above $100 for five weeks. Eagle Ford light crude traded at $102.50/bbl on August 9th.

A total of 209 rigs are drilling horizontal wells and just 15 rigs are drilling true vertical wells. McMullen & Karnes counties lead development with 33 and 32 rigs running, respectively. See the full list of drilling by county below.

South Texas Oil & Gas News:

Don't miss Tom Tunstall's piece on Texas Ghost Towns & Implications In The Eagle Ford

Be sure to visit our South Texas Oilfield Job Listings to search openings and come back weekly for updates or sign up for alerts - Daily or Weekly Email Alerts

Eagle Ford Shale Drilling by County

agle Ford Operated Rig Count By Company

What is the Rig Count?

Eagle Ford Regional Rig Count 274 - August 2, 2013

August 2, 2013 R.T. Dukes

The Eagle Ford Shale drilling rig count grew to average 274 rigs over the past week. That's another 2013 high and the highest number since September of 2012. Oil drilling levels fell further from the high of 241 set two weeks ago to settle at 234 rigs.

The U.S. rig count is up 6 to 1,782, of which 851 are running in Texas. A total of 388 rigs are targeting natural gas and 1,388 are targeting oil in the U.S. The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.).

News this week was highlighted by earnings releases from several major operators in the Eagle Ford, but on Monday we released data from Baker Hughes that shows more than 1,000 wells are drilled per quarter in the Eagle Ford. That's more than 4,000 wells per year at the current pace of drilling. You can read more in the article - Did You Know Drilling Starts On Over 1,000 Eagle Ford Wells Per Quarter?

We covered Anadarko's, Comstock's, Pioneer's, and Chesapeake's earning reports this week. We'll have more for you next week. You can find all four articles linked in the "news" section below.

*Note* Now quoting Baker Hughes. Baker Hughes also releases its own Eagle Ford Rig Count that covers the 14 core counties (~239 rigs). The rig count published here includes a 30 county area impacted by Eagle Ford development. A full list of the counties included can be found in the table near the bottom of this article.

Eagle Ford Oil & Gas Rigs

[ic-l]Seven natural gas rigs were added in the region to bring the total running up to 40 rigs. Natural gas futures were trading near $3.35/mmbtu on Friday afternoon. Cooler summer weather across the country has driven prices down over the past two weeks.

The oil rig count declined by six to 234 rigs running in the region this week. WTI prices have held above $100 per barrel over the past four weeks the benchmark was trading just below $107/bbl on Friday. Eagle Ford light crude traded at $104.25/bbl on August 1st.

A total of 215 rigs are drilling horizontal wells and just 15 rigs are drilling true vertical wells. McMullen & Karnes counties lead development with 36 and 31 rigs running, respectively. See the full list of drilling by county below.

South Texas Oil & Gas News:

Be sure to visit our South Texas Oilfield Job Listings to search openings and come back weekly for updates or sign up for alerts - Daily or Weekly Email Alerts

Eagle Ford Shale Drilling by County

Eagle Ford Operated Rig Count By Company

What is the Rig Count?

Eagle Ford Regional Rig Count 273 - July 26, 2013

July 26, 2013 R.T. Dukes

The Eagle Ford Shale drilling rig count grew by two to average 273 rigs over the past week. That's a 2013 high and the highest number since the first week of December 2012. Oil drilling levels fell off the high set last week to settle at 240 rigs running.

The U.S. rig count is up 6 to 1,776, of which 848 are running in Texas. A total of 369 rigs are targeting natural gas and 1,401 are targeting oil in the U.S. The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.).

The week was highlighted by a completion report filed by EOG Resources. The well produced more than 8,600 boe/d broken down as 7,513 barrels of oil and over 6.8 mmcfd of natural gas. You can read more in the article: EOG Well Sets Eagle Ford Production Record

*Note* Now quoting Baker Hughes. Baker Hughes also releases its own Eagle Ford Rig Count that covers the 14 core counties (~237 rigs). Our numbers cover a 30 county area impacted by Eagle Ford development. A full list of the counties included can be found in the table at the bottom of this article.

Eagle Ford Oil & Gas Rigs

[ic-l]The natural gas rig count in the region added three rigs to bring the total to 33. Natural gas futures were trading near $3.56/mmbtu on Friday afternoon. This marks the first week in the past month that the commodity will end below $3.60/mmbtu.

One fewer or 240 oil rigs are running in the region this week. WTI prices have held above $100 per barrel over the past three weeks. The oil benchmark was trading over $104/bbl on Friday. Eagle Ford light crude traded at $102/bbl on July 24th.

A total of 214 rigs are drilling horizontal wells and just 13 rigs are drilling true vertical wells. McMullen & Karnes counties lead development with 35 and 32 rigs running, respectively. See the full list of drilling by county below.

South Texas Oil & Gas News:

Be sure to visit our South Texas Oilfield Job Listings to search openings and come back weekly for updates.