Eagle Ford Shale Rig Count Stays Flat at 269

May 19, 2014 Kirk Eggleston

Forest Oil Eagle Ford Acreage Map Year-end 2013

The Eagle Ford Shale rig count stayed flat at 269 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, Houston-based Sabine Oil and Gas and Denver-based Forest Oil Corp announced in May of 2014 the two companies will merge in an all-stock transaction. At closing, which is expected some time during the fourth quarter, Sabine investors will hold 73.5% of the combined company's stock.

The U.S. rig count increased by 6 to 1,861 rigs running by the end of last week. A total of 326 rigs were targeting natural gas (3 more than the previous week) and 1,531 were targeting oil in the U.S. (3 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 891or ~48% of rigs active in the U.S. were 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 stayed flat at 14 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 the previous week at $4.42/mmbtu on Friday afternoon.

The oil rig count increased stayed flat at 255 rigs running by the end of last week. WTI oil prices increased by $2, trading at $102.16/bbl on Friday afternoon. Eagle Ford light crude traded at $98.50/bbl on May 16th.

A total of 238 rigs are drilling horizontal wells, 16 rigs are drilling directional wells, and 15 rigs are drilling vertical wells. Karnes, La Salle, De Witt, and Webb counties each have at minimum 26 rigs running. Karnes County has the highest rig count this week at 36. See the full list below in the Eagle Ford Shale 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.

Eagle Ford Shale Drilling by County

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 Shale Rig Count Increases by Two to 269

May 12, 2014 Kirk Eggleston

The Eagle Ford Shale rig count increased by two to 269 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, Canadian-based Encana Corporation has agreed to purchase 45,500 net Eagle Ford acres from Freeport-McMoRan for $3.1 billion. The acreage is located in Karnes, Wilson and Atascosa counties.

The U.S. rig count increased by 1 to 1,855 rigs running by the end of last week. A total of 323 rigs were targeting natural gas (flat from the previous week) and 1,528 were targeting oil in the U.S. (1 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 895or ~48% of rigs active in the U.S. were 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 (218 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 one to 14 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 decreased by nearly 20 cents from last week to $4.53/mmbtu on Friday afternoon.

The oil rig count increased by three to 255 rigs running by the end of last week. WTI oil prices increased slightly, trading at $100.03/bbl on Friday afternoon. Eagle Ford light crude traded at $96.50/bbl on May 9th.

A total of 238 rigs are drilling horizontal wells, 17 rigs are drilling directional wells, and 14 rigs are drilling vertical wells. Karnes, La Salle, De Witt, and McMullen 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 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.

Eagle Ford Shale Drilling by County

What is the Rig Count?

Eagle Ford Shale Rig Count Stays Flat at 267

May 5, 2014 Kirk Eggleston

The Eagle Ford Shale rig count stayed flat at 267 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, Sanchez Energy increased its’ portfolio-wide production by 376% to 18,784 boe/d in the first-quarter of 2014 over the first-quarter of 2013. The oil cut from this year’s first-quarter production was 72%, with 15% NGLs and 13% natural gas. Production remained relatively flat quarter-over-quarter.

The U.S. rig count decreased by 7 rigs running by the end of last week. A total of 323 rigs were targeting natural gas (flat from the previous week) and 1,527 were targeting oil in the U.S. (7 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 892or ~48% of rigs active in the U.S. were 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 (218 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 one to 15 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 $4.71/mmbtu on Friday afternoon.

The oil rig count increased by one to 252 rigs running by the end of last week. WTI oil prices decreased slightly, trading at $99.65/bbl on Friday afternoon. Eagle Ford light crude traded at $96.25/bbl on May 2nd.

A total of 234 rigs are drilling horizontal wells, 19 rigs are drilling directional wells, and 14 rigs are drilling vertical wells. Karnes, La Salle, De Witt, 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 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.

Eagle Ford Shale Drilling by County

What is the Rig Count?

Eagle Ford Shale Rig Count Increases by Four to 267

April 28, 2014 Kirk Eggleston

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

In recent Eagle Ford news, Clayton Williams production, revenues and operating costs for the first-quarter of 2014 were down compared to the first-quarter of 2013, after two significant divestitures over the course of the last year. Overall production was 250 boe/d below analyst estimates for the first-quarter of 2014 according to company officials.

The U.S. rig count increased by 30 to 1,861 rigs running by the end of last week. A total of 323 rigs were targeting natural gas (7 more than the previous week) and 1,534 were targeting oil in the U.S. (24 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 894or ~48% of rigs active in the U.S. were 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 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 $4.65/mmbtu on Friday afternoon.

The oil rig count increased by 4 to 251 rigs running by the end of last week. WTI oil prices decreased slightly, trading at $100.56/bbl on Friday afternoon. Eagle Ford light crude traded at $98.50/bbl on April 24th.

A total of 231 rigs are drilling horizontal wells, 21 rigs are drilling directional wells, and 15 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

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?

Eagle Ford Shale Rig Count Decreases By Four to 263

April 21, 2014 Kirk Eggleston

The Eagle Ford Shale rig count decreased by four to 263 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, ConocoPhillips increased its Eagle Ford reserve estimates in early April 2014 by 39% from 1.8 billion to 2.5 billion bbls of oil in place. Company officials say production is expected to exceed 250,000 boe/d in the Eagle Ford by 2017. That’s nearly 100,000 more BOE than the company’s target goal at the end of 2013.

The U.S. rig count stayed flat at 1831 rigs running by the end of last week. A total of 316 rigs were targeting natural gas (6 more than the previous week) and 1,510 were targeting oil in the U.S. (7 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 884or ~48% of rigs active in the U.S. were 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 (217 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 oil rig count decreased by 4 to 247 rigs running by the end of last week. WTI oil prices increased slightly, trading at $104.35/bbl on Friday afternoon. Eagle Ford light crude traded at $100.75/bbl on April 17th.

A total of 229 rigs are drilling horizontal wells, 21 rigs are drilling directional wells, and 13 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 29. 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.