Eagle Ford Rig Count - 262 - Sanchez Energy's Reserves Near 60 Million Barrels - January 31, 2014

February 3, 2014 Kirk Eggleston

The Eagle Ford Shale rig count decreased by one rig to 262 running over the past week.

In recent news, Sanchez Energy' reserves increased from 20 million boe at year-end 2012 to 58.9 million boe on December 31, 2013. Reserves increased as a result of successful development in the Eagle Ford and multiple acquisitions during 2013. Read more: Sanchez Energy's Reserves Near 60 Million Barrels - Production Surges in Q4

The U.S. rig count increased by 8 to 1,785 running over the past week. A total of 358 rigs are targeting natural gas (2 more than last week) and 1,422 are targeting oil in the U.S. (6 more than last week). The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 842 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 (214 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 increased by three rigs to 36 running this past week. Average rig counts for natural gas production in 2012 were around 82 and then dropped to around 41 in 2013. Over the past week, natural gas decreased slightly to $4.85/mmbtu on Friday afternoon.

The oil rig count decreased by 4 to 225 rigs running. WTI oil prices increased slightly, trading at $97.73/bbl by the end of the week. Eagle Ford light crude traded at $94/bbl on January 31st.

A total of 230 rigs are drilling horizontal wells, 20 rigs are drilling directional wells, and 12 rigs are drilling true vertical wells. Karnes, DeWitt, La Salle, Dimmit and McMullen counties each have at minimum 25 rigs running. LaSalle County has the highest rig count this week at 30. See the full list below in the Eagle Ford Shale Drilling by County:

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 - 263 - Texas to be 8th Largest Oil Producer by End of Year - January 24, 2014

January 27, 2014 Kirk Eggleston

The Eagle Ford Shale rig count decreased by four rigs to 263 running over the past week.

It's worth taking note that the state of Texas, due mainly to the lucrative Eagle Ford Shale, is positioned to be the eighth largest oil producer in the world by the end of the year. If the state stays on its current path it will surpass Iraq, Kuwait and Mexico by 2014. Read more here: Texas Could Be the Eighth Largest Oil Producer in the World by Year End

The U.S. rig count stayed flat at 1,777 running over the past week. A total of 356 rigs are targeting natural gas (9 less than last week) and 1,416 are targeting oil in the U.S. (8 more than last week). The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 839 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 (216 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 decreased by two rigs to 33 running this past week. Average rig counts for natural gas production in 2012 were around 82 and then dropped to around 41 in 2013. Over the past week, natural gas rose slightly to ~$5/mmbtu on Friday afternoon.

The oil rig count decreased by 3 to 229 rigs running. WTI oil prices increased slightly, trading at $95.84/bbl by the end of the week. Eagle Ford light crude traded at $93.25/bbl on January 24th.

A total of 230 rigs are drilling horizontal wells, 19 rigs are drilling directional wells, and 14 rigs are drilling true vertical wells. Karnes, DeWitt, La Salle, Dimmit and McMullen counties each have at minimum 24 rigs running. LaSalle County has the highest rig count this week at 31. See the full list below in the Eagle Ford Shale Drilling by County:

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 Rig Count 267- Sanchez Set to Spend $600 M in 2014

January 20, 2014 Kirk Eggleston

The Eagle Ford Shale rig count increased by one rig to 267 running over the past week.

News was highlighted by Sanchez Energy's plans for nearly $600 million in development spending in the Eagle Ford. Sanchez also expects to double production over the next year.

Read the full article: Sanchez Energy Expects Eagle Ford Development Spending to Near $600 Million

The U.S. rig count increased by twenty-three (23) rigs from 1,754 to 1,777 running over the past week. A total of 365 rigs are targeting natural gas (8 more than last week) and 1,408 are targeting oil in the U.S. (15 more than last week). The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 841 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 (229 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 increased by five rigs to 35 running this past week. Average rig counts for natural gas production in 2012 were around 82 and then dropped to around 41 in 2013. Over the past week, natural gas held relatively flat around ~$4.30/mmbtu on Friday afternoon.

The oil rig count decreased by 4 to 232 rigs running. WTI oil prices increased slightly, trading at just over $94/bbl by the end of the week. Eagle Ford light crude traded at $90.75/bbl on January 17th.

A total of 228 rigs are drilling horizontal wells, 24 rigs are drilling directional wells, and 15 rigs are drilling true vertical wells. Karnes, DeWitt, La Salle, and McMullen counties all have between 27 and 34 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 266 - Eagle Ford Spending Could Reach $30 Billion in 2014 - Jan 13, 2014

January 13, 2014 Kenny DuBose

The Eagle Ford Shale rig count dropped by two rigs to 266 running over the past week.

In recent Eagle Ford news, development spending is anticipated to hit $20 billion dollars, with some estimates pushing that figure up to $30 billion.

Read the full article: Eagle Ford Spending Could Reach $30 Billion in 2014

The U.S. rig count increased by three rigs from 1,751 to 1,754 running over the past week. A total of 357 rigs are targeting natural gas (15 less than last week) and 1,393 (15 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 (229 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 increased by two rigs to 30 running this past week. Average rig counts for natural gas production in 2012 were around 82 and then dropped to around 41 in 2013. Don't be surprised if this is the bottom and we see more natural gas rigs this year. Natural gas essentially stayed level around ~$4/mmbtu on Friday afternoon.

The oil rig count decreased by 4 to 236 rigs running. WTI oil prices took a slight hit as trading resumed for the new year, dropping to just under $92/bbl by the end of the week. Eagle Ford light crude traded at $88/bbl on January 13th.

A total of 227 rigs are drilling horizontal wells, 23 rigs are drilling directional wells, and 16 rigs are drilling true vertical wells. Karnes, DeWitt, La Salle, and McMullen counties all have between 29 and 31 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?

Baker Hughes Reports Record Eagle Ford Well Spuds in Q4

January 10, 2014 R.T. Dukes

Baker Hughes reported a record number of Eagle Ford well starts in the fourth quarter of 2014. The company's quarterly report shows ~1,171 wells were started over the three month period.

Rigs also drilled 0.5 wells more in the quarter than they did in the third quarter of 2013. That's an improvement of 40% or 1.5 more wells per quarter per rig than the industry was capable of in early 2012.

We consider the Baker Hughes well start estimate conservative since the company only considers a 14 county area in its Eagle Ford statistics. The numbers reported ignore areas like Brazos County where Eagle Ford activity is increasing.

Also Read -Eagle Ford Record Set for Well Spuds in Q3 (now a broken record)

By adding in the non-core Eagle Ford counties, well spuds easily eclipsed 1,200 wells in the fourth quarter.

Even though we reported this in the third quarter, it's also the first quarter in which well spuds eclipsed 1,100 in the 14-county area. The Baker Hughes reported well spuds were revised down in the third quarter from 1,131 to 1,096.

Watch for this record to be broken throughout 2014 if oil prices hold in the $90/bbl or higher range.