Eagle Ford Regional Rig Count 265 - Comstock Adds Eagle Ford Acreage - Thanksgiving Week

December 2, 2013 R.T. Dukes

Comstock Resources East Texas Eagle Ford Map

The Eagle Ford Shale rig count increased by two rigs to 265 running during Thanksgiving week. The natural gas rig count held at an Eagle Ford era low of just 23 and the oil rig count matched a high with 241 rigs drilling for liquids.

The biggest announcement of the week was Comstock Resources reaching a deal with Ursa Resources for 20,000 net acres and ~400 boe/d in Burleson and Washington counties. Read more in the article: Comstock - Ursa Resources Reach Eagle Ford Deal for $66.5 Million

The U.S. rig count increased two rigs from 1,761 to 1,763 running over Thanksgiving week. A total of 367 rigs are targeting natural gas (2 less than last week) and 1,391 (4 more than last week) are targeting oil in the U.S. The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 834 or 47% of rigs active in the U.S. are running in Texas.

Baker Hughes rig count is quoted here. Baker Hughes also releases its own Eagle Ford Rig Count that covers the 14 core counties (227 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 held at 23 rigs running over the past week. That's almost half the average of 42 rigs that have been targeting natural gas so far in 2013. Natural gas prices were up about fifteen cents during the week and were trading around $3.90/mmbtu on Friday. With gas prices approaching $4, I suspect the natural gas rig count is near a theoretical bottom in the Eagle Ford.

The oil rig count increased 2 rigs to 241. That matches the all time high set in July of this year. WTI oil prices were trading around $93/bbl to end the week and Eagle Ford light crude traded at $89.25/bbl on November 29th.

A total of 231 rigs are drilling horizontal wells, 16 rigs are drilling directional wells, and 18 rigs are drilling true vertical wells. Karnes, DeWitt, La Salle, Gonzales, McMullen and Webb counties all have between 25 and 32 rigs running. See the full list of drilling by county below.

South Texas Oil & Gas News:

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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:

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

Eagle Ford Rig Count 261 - Cheniere Will Spend Billions in Corpus Christi - Nov 15, 2013

November 15, 2013 R.T. Dukes

Cheniere's Corpus Christi Liquefaction Project

The Eagle Ford Shale rig count held flat at 261 running this past week. Don't expect fourth quarter budgets to allow for big changes in rig activity. We're in the home stretch of the year and the major activity changes are likely on the shelf until 2014.

We heard more in regard the Cheniere Energy's Corpus Christi Liquefaction Project. The company has received a construction contract from Bechtel that pegs the cost of the proposed facility somewhere north of $11 billion. Expect a final investment decision from Cheniere late in 2014. Read the full story: Cheniere Energy's Corpus Christi LNG Plant will cost $12 billion

The U.S. rig count increased 8 rigs from 1,754 to 1,762 running over the past week. A total of 370 rigs are targeting natural gas (5 more than last week) and 1,385 (2 more than last week) are targeting oil in the U.S. The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 825 or 47% of rigs active in the U.S. are running in Texas.

Baker Hughes rig count is quoted here. Baker Hughes also releases its own Eagle Ford Rig Count that covers the 14 core counties (223 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 fell one to 29 rigs running over the past week. That's the first time the natural gas rig count has fallen below 30 since back in the spring. If our sources are correct and natural gas prices head higher this winter, November might be the last time you see the count that low. Natural gas prices were up about ten cents during the week and were trading around $3.65/mmbtu on Friday.

The oil rig count held flat at 230. WTI oil prices were trading around $94/bbl to end the week. Eagle Ford light crude traded at $90.25/bbl on Nov 14th.

A total of 227 rigs are drilling horizontal wells, 18 rigs are drilling directional wells, and 16 rigs are drilling true vertical wells. Karnes, DeWitt, La Salle, Gonzales, McMullen and Webb counties all have between 25 and 29 rigs running. See the full list of drilling by county below.

South Texas Oil & Gas News:

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Eagle Ford Shale Drilling by County

Eagle Ford Operated Rig Count By Company

What is the Rig Count?

Eagle Ford Regional Rig Count 261 - Production Growth Continues - Nov 8, 2013

November 8, 2013 R.T. Dukes

The Eagle Ford Shale rig count increased by one rig from 260 to 261 running this past week.

We explored current Eagle Ford production and whether or not it is on its way to 2 million barrels of oil per day early in the week. Then, both Marathon and Chesapeake reported earnings with production figures that point to both companies surpassing 100,000 boe/d net before year-end. Both will likely eclipse the 100,000 b/d oil mark in the next two years. The Eagle Ford has been an economic boon for the state of Texas. Coupled with the Permian Basin the state is on pace to become one of the most influential suppliers in the world oil market.

The U.S. rig count increased 12 rigs from 1,742 to 1,754 running over the past week. A total of 365 rigs are targeting natural gas (5 more than last week) and 1,383 (7 more than last week) are targeting oil in the U.S. The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 834 or 48% of rigs active in the U.S. are running in Texas.

Baker Hughes rig count is quoted here. Baker Hughes also releases its own Eagle Ford Rig Count that covers the 14 core counties (226 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 fell to 30 rigs running over the past week. Natural gas prices held relatively flat during the week and were trading around $3.55/mmbtu on Friday.

The oil rig count increased by four rigs from 226 to 230. WTI oil prices were trading around $95/bbl to end the week. Oil prices fell for two weeks then held flat this past week after holding above $100 for almost four months.. Eagle Ford light crude traded at $91.00/bbl on Nov 8th.

A total of 229 rigs are drilling horizontal wells, 18 rigs are drilling directional wells, and 14 rigs are drilling true vertical wells. DeWitt, Karnes, La Salle, Gonzales, and McMullen counties all have between 26 and 30 rigs running. See the full list of drilling by county below.

South Texas Oil & Gas News:

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Eagle Ford Shale Drilling by County

Eagle Ford Operated Rig Count By Company

What is the Rig Count?

260 Rigs Running in the Eagle Ford - Operators Reporting Earnings - Nov 1, 2013

November 1, 2013 R.T. Dukes

The Eagle Ford Shale rig count increased by three rigs from 257 to 260 running this past week.

Several Eagle Ford operators began reporting earnings and giving operational updates. Sanchez is seeing record production, EXCO expects to speed up development in the coming months, and Swift Energy is testing completion methods that utilize much more fluid and proppant. You can read articles on all three in the South Texas Oil & Gas News section below.

The U.S. rig count increased 4 rigs from 1,738 to 1,742 running over the past week. A total of 360 rigs are targeting natural gas (16 less than last week) and 1,376 (19 more than last week) are targeting oil in the U.S. The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 821 or 47% of rigs active in the U.S. are running in Texas.

Baker Hughes rig count is quoted here. Baker Hughes also releases its own Eagle Ford Rig Count that covers the 14 core counties (226 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 fell to 33 rigs running over the past week. Natural gas prices fell 5% over the past few days and were trading around $3.50/mmbtu on Friday.

The oil rig count increased by four rigs from 222 to 226. WTI oil prices were trading around $95/bbl to end the week. Oil prices have been falling for two weeks. Eagle Ford light crude traded at $93.00/bbl on Oct 31st.

A total of 229 rigs are drilling horizontal wells, 18 rigs are drilling directional wells, and 13 rigs are drilling true vertical wells. DeWitt, Karnes, Gonzales, La Salle, and McMullen counties all have between 25 and 32 rigs running. 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 257 - Oct 25, 2013

October 26, 2013 R.T. Dukes

The Eagle Ford Shale rig count increased by two rigs from 255 to 257 running this past week. This is the last full reporting week in October and we're ending the month with an average of exactly ten less rigs than what we saw in September. The drop is likely the result of operators scaling back due to budget limitations in the fourth quarter. Watch for activity to hold steady or fall a little and then pick back up at the beginning of the year.

We discussed the depth of the Eagle Ford in an article this past week. While lithology and overall geology is never homogeneous, the changes in depth across the Eagle Ford show how dynamic the play is. Read more in the article: How Deep is the Eagle Ford?

The U.S. rig count decreased 1 rig from 1,739 to 1,738 running over the past week. A total of 376 rigs are targeting natural gas (4 more than last week) and 1,357 are targeting oil in the U.S. The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 812 rigs are running in Texas.

Baker Hughes rig count is quoted here. Baker Hughes also releases its own Eagle Ford Rig Count that covers the 14 core counties (222 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 held flat at 35 rigs running over the past week. Natural gas prices held steady during the week and were trading around $3.70/mmbtu at the end of the week.

The oil rig count increased by two rigs from 220 to 222. WTI oil prices were trading around $98/bbl to end the week. Oil prices traded above $100 for 15 weeks, but fell below that mark and ended the week at the lowest point in four months. Eagle Ford light crude traded at $94.25/bbl on Oct 25th.

A total of 227 rigs are drilling horizontal wells, 18 rigs are drilling directional wells, and 12 rigs are drilling true vertical wells. Karnes, DeWitt, Gonzales, La Salle, and McMullen counties all have between 25 and 30 rigs running. 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