Eagle Ford Shale Rig Count Increases by 2 to 262

September 2, 2014 Kirk Eggleston

The Eagle Ford Shale rig count increased by two to 262 rigs running across our coverage area by the end of last week.

In recent news, the Texas Railroad Commission (RRC) reported state-wide crude oil production of 2.16-million b/d for June, 2014, at the end of August. That’s less than a 1% increase from the previous month, but 29% from the same time in 2013. Most of the state’s oil production in June came from the Eagle Ford Shale and West Texas’ Permian Basin.

The U.S. rig count increased by 18 to 1,914 rigs running by the end of last week. A total of 338 rigs were targeting natural gas (eight more than the previous week) and 1,575 were targeting oil in the U.S. (11 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 900 or ~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 (203 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 12 rigs running by the end of last week. Average rig counts for natural gas production in 2012 were around 80 and then dropped to around 40 in 2013. Natural gas prices increased by more than $.20 from the previous week to $4.08/mmbtu on Friday afternoon.

The oil rig count increased by three to 250 rigs running by the end of last week. WTI oil prices increased by ~$2 from the previous week, trading at $95.85/bbl on Friday afternoon. Eagle Ford light crude traded at $92.50/bbl on August 29th.

A total of 247 rigs are drilling horizontal wells, six rigs are drilling directional wells, and nine rigs are drilling vertical wells. Karnes, La Salle, De Witt, and Webb 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 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.

Eagle Ford Shale Rig Count Decreases by One to 260

August 25, 2014 Kirk Eggleston

The Eagle Ford Shale rig count decreased by one to 260 rigs running across our coverage area by the end of last week.

In recent news, Houston-based BHP Billiton may soon get the green light to export condensate from the Eagle Ford Shale. According to the Houston Chronicle, BHP President Rod Skaufel confirmed the company has applied for an export permit with the U.S. Commerce Department (US DoC).

The U.S. rig count decreased by 17 to 1,896 rigs running by the end of last week. A total of 330 rigs were targeting natural gas (nine more than the previous week) and 1,564 were targeting oil in the U.S. (25 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 888 or ~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 (200 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 increased by three to 13 rigs running by the end of last week. Average rig counts for natural gas production in 2012 were around 80 and then dropped to around 40 in 2013. Natural gas prices increased slightly from the previous week to $3.85/mmbtu on Friday afternoon.

The oil rig count decreased by four to 247 rigs running by the end of last week. WTI oil prices stayed relatively flat from the previous week, trading at $93.57/bbl on Friday afternoon. Eagle Ford light crude traded at $90.50/bbl on August 21st.

A total of 247 rigs are drilling horizontal wells, four rigs are drilling directional wells, and nine rigs are drilling vertical wells. Karnes, La Salle, De Witt, and Webb each have at minimum 25 rigs running. Karnes County has the highest rig count this week at 33. 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 Decreases by Five to 261

August 18, 2014 Kirk Eggleston

The Eagle Ford Shale rig count decreased by five to 261 rigs running across our coverage area by the end of last week.

In recent news, The U.S. Energy Information Administration (EIA) predicts the Eagle Ford Shale will produce 1.51-million b/d crude oil in September 2014. That’s an increase of ~31,000b/d over August’s expected production (1.48-million b/d), according to the EIA’s monthly Drilling Productivity Report released this week.

The U.S. rig count increased by five to 1,913 rigs running by the end of last week. A total of 321 rigs were targeting natural gas (five more than the previous week) and 1,589 were targeting oil in the U.S. (one more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 901 or ~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 (199 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 increased by one to ten rigs running by the end of last week. Average rig counts for natural gas production in 2012 were around 80 and then dropped to around 40 in 2013. Natural gas prices decreased slightly from the previous week to $3.77/mmbtu on Friday afternoon.

The oil rig count decreased by six to 251 rigs running by the end of last week. WTI oil prices stayed relatively flat from the previous week, trading at $97.09/bbl on Friday afternoon. Eagle Ford light crude traded at $92.00/bbl on August 14th.

A total of 247 rigs are drilling horizontal wells, four rigs are drilling directional wells, and ten rigs are drilling vertical wells. Karnes, La Salle, De Witt, and Webb 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 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 266

August 11, 2014 Kirk Eggleston

EOG Resources Eagle Ford Reserve Potential

The Eagle Ford Shale rig count stayed flat at 266 rigs running across our coverage area by the end of last week.

In recent news, EOG Resources revealed a 45% increase in its Eagle Ford estimated potential reserves from 2.2 net BnBoe to 3.2 net BnBoe. This is the company’s third reserve increase in four years. EOG officials expect continued production growth in the Eagle Ford, with a current drilling inventory of 12 years.

The U.S. rig count increased by 19 to 1,908 rigs running by the end of last week. A total of 316 rigs were targeting natural gas (three more than the previous week) and 1,588 were targeting oil in the U.S. (15 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 908or ~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 (201 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 increased by one to nine rigs running by the end of last week. Average rig counts for natural gas production in 2012 were around 80 and then dropped to around 40 in 2013. Natural gas prices increased slightly from the previous week to $3.97/mmbtu on Friday afternoon.

The oil rig count decreased by one to 257 rigs running by the end of last week. WTI oil prices stayed relatively flat from the previous week, trading at $97.57/bbl on Friday afternoon. Eagle Ford light crude traded at $94.00/bbl on July 24th.

A total of 247 rigs are drilling horizontal wells, 6 rigs are drilling directional wells, and 13 rigs are drilling vertical wells. Karnes, La Salle, De Witt, and Webb each have at minimum 25 rigs running. Karnes County has the highest rig count this week at 32. 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 Two to 266

August 4, 2014 Kirk Eggleston

The Eagle Ford Shale rig count increased by two to 266 rigs running across our coverage area by the end of last week.

In recent news, Calgary-based Baytex Energy, a recent entrant into the Eagle Ford, announced in late June of 2014 that it’s selling its Bakken Shale assets in North Dakota to pay down a portion of its Eagle Ford debt.

In February, the company added 22,200 net contiguous acres in South Texas through its $2.8 billion acquisition of Aurora Oil & Gas, which closed in June of 2014.

The U.S. rig count increased by six to 1,889 rigs running by the end of last week. A total of 313 rigs were targeting natural gas (five less than the previous week) and 1,573 were targeting oil in the U.S. (11 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 904or ~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 (204 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 eight rigs running by the end of last week. Average rig counts for natural gas production in 2012 were around 80 and then dropped to around 40 in 2013. Natural gas prices were flat from the previous week to $3.80/mmbtu on Friday afternoon.

The oil rig count increased by three to 258 rigs running by the end of last week. WTI oil prices decreased by ~$4 from the previous week, trading at $97.60/bbl on Friday afternoon. Eagle Ford light crude traded at $94.50/bbl on July 24th.

A total of 242 rigs are drilling horizontal wells, 10 rigs are drilling directional wells, and 14 rigs are drilling vertical wells. Karnes, La Salle, and De Witt each have at minimum 30 rigs running. Karnes County has the highest rig count this week at 33. 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.