Eagle Ford Rig Count - 267 - Horizon Energy Signs Lease Option in Webb County, TX

April 14, 2014 Kirk Eggleston

The Eagle Ford Shale rig count decreased by one to 267 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, Horizon Energy Corporation announced in early April that it signed an option agreement for an oil and gas lease in Webb County, TX. The land consists of 1,340 acres located close to Mirando City.

The U.S. rig count increased by 13 to 1831 rigs running by the end of last week. A total of 310 rigs are targeting natural gas (6 less than last week) and 1,517 are targeting oil in the U.S. (19 more than last week). The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 884or ~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 (220 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

The natural gas rig count remained flat at 16 rigs running by the end of last week. Average rig counts for natural gas production in 2012 were around 82 and then dropped to around 41 in 2013. Natural gas prices stayed relatively flat from last week at $4.62/mmbtu on Friday afternoon.

The oil rig count decreased by 1 to 251 rigs running by the end of last week. WTI oil prices increased, trading at $103.25/bbl on Friday afternoon. Eagle Ford light crude traded at $100.25/bbl on April 11th.

A total of 230 rigs are drilling horizontal wells, 23 rigs are drilling directional wells, and 14 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, McMullen and Webb counties each have at minimum 23 rigs running. Karnes 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:

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

Eagle Ford Shale Drilling by Count

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 - 268 - Warwick Energy Buys R/C Sugarkane

April 7, 2014 Kirk Eggleston

The Eagle Ford Shale rig count remained flat at 268 rigs running across our coverage area at the end of last week.

In recent Eagle Ford news, Oklahoma City-based Warwick Energy entered an agreement in early April to acquire R/C Sugarkane LLC, an Eagle Ford upstream oil and gas company. Warwick is buying R/C Sugarkane from Riverstone Holdings, LLC, a New York-based private equity firm, for an undisclosed amount. The deal includes RC Sugarkane’s non-operated working interests in 6,000 net Eagle Ford acres, with 3,000 boe/d in net production.

The U.S. rig count increased by nine to 1818 rigs running last week. A total of 316 rigs are targeting natural gas (2 less than last week) and 1,498 are targeting oil in the U.S. (11 more than last week). The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 877or ~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 (224 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

The natural gas rig count decreased by 3 to 16 rigs running this past week. Average rig counts for natural gas production in 2012 were around 82 and then dropped to around 41 in 2013. Natural gas prices stayed relatively flat last week at $4.50/mmbtu on Friday afternoon.

The oil rig count increased by 3 to 252 rigs running over the past week. WTI oil prices decreased, trading at $100.74/bbl by the end of the week. Eagle Ford light crude traded at $97.75/bbl on April 4th.

A total of 231 rigs are drilling horizontal wells, 23 rigs are drilling directional wells, and 14 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, McMullen and Webb counties each have at minimum 25 rigs running. Karnes 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.

Eagle Ford Shale Drilling by Count

Eagle Ford Operated Rig Count By Company

What is the Rig Count?

Eagle Ford Rig Count - 268 - Alta Mesa Sells EFS Assets - $173 Million

March 31, 2014 Kirk Eggleston

The Eagle Ford Shale rig count increased by seven to 268 rigs running over the past week.

In recent Eagle Ford news, Memorial Production Partners announced this month that it purchased Eagle Ford assets from Alta Mesa Holdings for $173 million. The deal includes 15,200 (800 net) acres in Karnes County, with 99-percent of the assets already held by production. According to company officials, Memorial will gain an interest in 117 non-operated wells, with average net production of 1,650 boe/d. Approximately 80-percent of current production is oil.

The U.S. rig count increased by six to 1809 rigs running over the past week. A total of 318 rigs are targeting natural gas (8 less than last week) and 1,487 are targeting oil in the U.S. (14 more than last week). The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 866or ~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 (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

The natural gas rig count decreased by 5 to 19 rigs 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 prices stayed relatively flat at $4.49/mmbtu on Friday afternoon.

The oil rig count increased by 12 to 249 rigs running over the past week. WTI oil prices increased, trading at $101.55/bbl by the end of the week. Eagle Ford light crude traded at $98.25/bbl on March 28th.

A total of 229 rigs are drilling horizontal wells, 22 rigs are drilling directional wells, and 17 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, McMullen and Webb counties each have at minimum 25 rigs running. Karnes County has the highest rig count this week at 34. 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.

Eagle Ford Shale Drilling by Count

Eagle Ford Operated Rig Count By Company

What is the Rig Count?

Eagle Ford Rig Count - 261 - EOG Resources - ZaZa Energy Move to Final Phase of JV Agreement in Eaglebine

March 21, 2014 Kirk Eggleston

The Eagle Ford Shale rig count decreased by six to 261 rigs running over the past week.

In recent news, EOG Resources joint venture with ZaZa Energy moves into its third and final phase in the Eaglebine. ZaZa will receive $15 million and an additional two-well drilling commitment from EOG. As part of the agreement, EOG must begin drilling the first of two wells by July 1, 2014. In exchange, EOG will gain a 75% working interest in all of Zaza's remaining acreage.

The U.S. rig count decreased by six to 1803 rigs running over the past week. A total of 326 rigs are targeting natural gas (18 less than last week) and 1,473 are targeting oil in the U.S. (12 more than last week). The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 858or ~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 (219 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

The natural gas rig count decreased by 14 to 24 rigs 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 $4.31/mmbtu on Friday afternoon.

The oil rig count increased by eight to 237 rigs running. WTI oil prices decreased, trading at $99.56/bbl by the end of the week. Eagle Ford light crude traded at $96.00/bbl on March 21st.

A total of 226 rigs are drilling horizontal wells, 19 rigs are drilling directional wells, and 16 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, McMullen and Webb counties each have at minimum 22 rigs running. Karnes County has the highest rig count this week at 34. 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.

Eagle Ford Shale Drilling by County

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Eagle Ford Operated Rig Count By Company

What is the Rig Count?

Eagle Ford Rig Count - 267 - EIA Data Shows Play is a Top Oil Producer

March 14, 2014 Kirk Eggleston

The Eagle Ford Shale rig count stayed flat at 267 rigs running over the past week.

In recent news, U.S. Energy Information Administration (EIA) data released in March 2014, shows each drilling rig in the Eagle Ford Shale will contribute 400 b/d more than it would have in the same formation in January 2007. Total April 2014 oil production in the Ealge Ford is expected to be 1,359,000 b/d. Total natural gas production in the Eagle Ford is expected to be 6,566 mcf/d.

The U.S. rig count decreased by 17 to 1809 rigs running over the past week. A total of 344 rigs are targeting natural gas (1 less than last week) and 1,461 are targeting oil in the U.S. (18 more than last week). The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 868or ~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 (224 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

The natural gas rig count decreased by 5 rigs to 267 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 to $4.38/mmbtu on Friday afternoon.

The oil rig count increased by 5 to 229 rigs running. WTI oil prices decreased, trading at ~$99/bbl by the end of the week. Eagle Ford light crude traded at $94.75/bbl on March 13th.

A total of 234 rigs are drilling horizontal wells, 20 rigs are drilling directional wells, and 13 rigs are drilling true vertical wells. Karnes, La Salle, Dimmit, McMullen and Webb counties each have at minimum 24 rigs running. Karnes County has the highest rig count this week at 35. 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.