Eagle Ford Shale Rig Count Decreases by Four to 276

November 10, 2014 Kirk Eggleston

The Eagle Ford Shale rig count decreased by four to 272 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, lower commodities prices for crude oil aren’t likely to stop new drilling in the Eagle Ford. With breakeven oil prices between $50 – $60 per barrel, in certain liquids-rich areas of the play, operators will continue to drill, even if prices inch closer to this range.

Should prices drop to $70 per barrel, experts believe the Eagle Ford will likely experience a slowdown, but not an all out bust. And some producers will fare better than others, depending on their position.

The U.S. rig count decreased by four to 1,925 rigs running by the end of last week. A total of 356 rigs were targeting natural gas (ten more than the previous week) and 1,568 were targeting oil in the U.S. (14 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 906 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 (212 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 20 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 rose by $.58 from the previous week to $4.46/mmbtu on Friday afternoon.

The oil rig count decreased by seven to 252 rigs running by the end of last week. WTI oil prices decreased by ~$1.50 from the previous week, trading at $78.95/bbl on Friday afternoon. Eagle Ford light crude traded at $74.25/bbl on Nov. 6th.

A total of 252 rigs are drilling horizontal wells, 13 rigs are drilling directional wells, and 7 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, and DeWitt each have at minimum 25 rigs running. Dimmit County has the highest rig count this week at 39. 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 Increases by 1 to 276

November 3, 2014 Kirk Eggleston

The Eagle Ford Shale rig count increased by one to 276 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, Houston-based Carrizo Oil & Gas, Inc., has closed its $250-million Eagle Ford acquisition of 6,820 net Eagle Ford acres from Eagle Ford Minerals, LLC, for $250-million. The deal represents a ~25% working interest in the acquired properties, where Carrizo was already the operator. At closing, Carrizo assumed 100% of the working interest in the assets.

The U.S. rig count increased by two to 1,929 rigs running by the end of last week. A total of 346 rigs were targeting natural gas (fourteen more than the previous week) and 1,582 were targeting oil in the U.S. (13 less 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 (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 increased by one to 17 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 $.27 from the previous week to $3.88/mmbtu on Friday afternoon.

The oil rig count stayed flat at 259 rigs running by the end of last week. WTI oil prices decreased by ~$.60 from the previous week, trading at $80.58/bbl on Friday afternoon. Eagle Ford light crude traded at $77.50/bbl on Oct. 30th.

A total of 251 rigs are drilling horizontal wells, 15 rigs are drilling directional wells, and 10 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, and McMullen each have at minimum 27 rigs running. Dimmit County has the highest rig count this week at 37. 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 Six to 275

October 27, 2014 Kirk Eggleston

Sanchez Upper Eagle Ford Wells Production Rates

The Eagle Ford Shale rig count increased by six to 275 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, amid a drop in oil prices, Eagle Ford-focused Sanchez Energy, has seen a sharp dip in its stock price, falling nearly 35% in the past month to ~$18.50. According to the investment research firm, Zacks, the Houston-based company's earning picture suggests the slump may continue.

Despite its 30-day earnings consensus moving lower over the last 30-days, Sanchez returned excellent third quarter production results.

The U.S. rig count increased by 9 to 1,927 rigs running by the end of last week. A total of 332 rigs were targeting natural gas (four more than the previous week) and 1,595 were targeting oil in the U.S. (5 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 906 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 (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

The natural gas rig count decreased by three to 16 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 by $.16 from the previous week to $3.61/mmbtu on Friday afternoon.

The oil rig count increased by nine to 259 rigs running by the end of last week. WTI oil prices decreased by ~$2.00 from the previous week, trading at $81.08/bbl on Friday afternoon. Eagle Ford light crude traded at $78.75/bbl on Oct. 24th.

A total of 248 rigs are drilling horizontal wells, 15 rigs are drilling directional wells, and 12 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, and McMullen each have at minimum 25 rigs running. Karnes County has the highest rig count this week at 37. 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 269

October 20, 2014 Kirk Eggleston

Pioneer Natural Resources' Production Chart

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, India’s Reliance Industries is looking for a buyer for its interest in a three-way joint Eagle Ford joint venture, according to Bloomberg, which cited “people familiar with the matter.” The other players in the JV are Irving, Texas-based Pioneer Natural Resources Co. and a division of Mexico’s Alfa SAB de CV – Newpek, LLC.

The U.S. rig count decreased by 12 to 1,918 rigs running by the end of last week. A total of 328 rigs were targeting natural gas (eight more than the previous week) and 1,590 were targeting oil in the U.S. (19 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 898 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 (209 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 19 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 by ~$.10 from the previous week to $3.77/mmbtu on Friday afternoon.

The oil rig count decreased by three to 250 rigs running by the end of last week. WTI oil prices decreased by less than $1.00 from the previous week, trading at $83.15/bbl on Friday afternoon. Eagle Ford light crude traded at $79.25/bbl on Oct. 16th.

A total of 242 rigs are drilling horizontal wells, 12 rigs are drilling directional wells, and 15 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, and McMullen 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?

Eagle Ford Shale Rig Count Increases by Two to 269

October 13, 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, a rare lizard, once spread across portions of the Eagle Ford region, has largely vanished, according to the San Antonio Express News. And now the species has the potential to disrupt oil & gas development in the region, if it is designated as threatened or endangered by the U.S. Fish & Wildlife Service (USFW), under the endangered species act (ESA).

The U.S. rig count increased by eight to 1,930 rigs running by the end of last week. A total of 320 rigs were targeting natural gas (ten less than the previous week) and 1,609 were targeting oil in the U.S. (18 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 896 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 (210 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 stayed flat at 16 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 by ~$.15 from the previous week to $3.86/mmbtu on Friday afternoon.

The oil rig count increased by two to 253 rigs running by the end of last week. WTI oil prices decreased by more than $5.00 from the previous week, trading at $84.72/bbl on Friday afternoon. Eagle Ford light crude traded at $82.25/bbl on Oct. 9th.

A total of 243 rigs are drilling horizontal wells, ten rigs are drilling directional wells, and 16 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, and McMullen each have at minimum 25 rigs running. Karnes County has the highest rig count this week at 38. 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.