Eagle Ford Shale Rig Count Decreases by One to 260

December 15, 2014 Kirk Eggleston

alt="Eagle Ford at One Billion Barrels" — Eagle Ford Reaches One Billion Barrels

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 Eagle Ford news, amidst falling crude prices and dire predictions about the future of the industry, Wood Mackenzie announced that Eagle Ford reached an impressive milestone in November as production topped one billion barrels. Over the past two years, production in the Eagle Ford play has exploded and elevated the area as a major force in the world energy market.

The U.S. rig count decreased by 27 to 1,893 rigs running by the end of last week. A total of 346 rigs were targeting natural gas (up 2 from the previous week) and 1,546 were targeting oil in the U.S. (29 less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.).872 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 (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 stayed flat at 18 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 stayed flat from the previous week at $3.74/mmbtu on Friday afternoon.

The oil rig count decreased by one to 242 rigs running by the end of last week. WTI oil prices decreased by ~$6.00 from the previous week, trading at $57.99/bbl on Friday afternoon. Eagle Ford light crude traded at $56.50/bbl on December 12th.

A total of 244 rigs are drilling horizontal wells, six rigs are drilling directional wells, and 10 rigs are drilling vertical wells. Karnes, Dimmit, and DeWitt each have at minimum 27 rigs running. Dimmit County has the highest rig count this week at 35. 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 Seven to 261

December 8, 2014 Kirk Eggleston

The Eagle Ford Shale rig count stayed flat at 261 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, Texas is the largest producer of shale natural gas, according to a report from the Energy Information Administration (EIA). From 2007 to 2013, shale gas production in Texas increased from 3 bcf/d to 11 bcf/d, with the majority of the shale gas produced coming from the Barnett, Eagle Ford, and Haynesville Shale formations.

The U.S. rig count decreased by 3 to 1,920 rigs running by the end of last week. A total of 344 rigs were targeting natural gas (flat from the previous week) and 1,575 were targeting oil in the U.S. (three less 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 (206 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 increased by two to 18 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 fell by ~$.30 from the previous week at $3.70/mmbtu on Friday afternoon.

The oil rig count decreased by nine to 243 rigs running by the end of last week. WTI oil prices increased by ~$3.00 from the previous week, trading at $64.33/bbl on Monday morning. Eagle Ford light crude traded at $62.65/bbl on December 5th.

A total of 245 rigs are drilling horizontal wells, six rigs are drilling directional wells, and 10 rigs are drilling vertical wells. Karnes, Dimmit, and DeWitt each have at minimum 27 rigs running. Dimmit County has the highest rig count this week at 35. 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 268

December 1, 2014 Kirk Eggleston

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

In recent Eagle Ford news, research consultancy IHS Energy reports most shale plays are economic and ~80% of potential drilling in 2015 would remain strong at WTI crude oil prices as low as $70 per barrel.

Now that oil has fallen below $70, it's likely some operators will decided to cut back their drilling programs for 2015. However, in the vast majority of the Eagle Ford's liquids-rich areas, break-even oil prices are between $50 – $60 per barrel.

In the Karnes Trough, one of the best areas of the play, analysts predict it would be profitable, even if the price of oil fell into the $40s range.

The U.S. rig count increased by decreased by 12 to 1,917 rigs running by the end of last week. A total of 344 rigs were targeting natural gas (11 less than the previous week) and 1,572 were targeting oil in the U.S. (two 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 (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 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 stayed flat from the previous week at $4.02/mmbtu on Friday afternoon.

The oil rig count stayed flat at 252 rigs running by the end of last week. WTI oil prices increased by nearly $10.00 from the previous week, trading at $67.48/bbl on Monday morning. Eagle Ford light crude traded at $62.50/bbl on November 28th.

A total of 251 rigs are drilling horizontal wells, seven rigs are drilling directional wells, and 10 rigs are drilling vertical wells. Karnes, Dimmit, and DeWitt 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:

IHS: U.S. Shale Growth Still Strong, Despite Lower Oil Prices

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 Three to 268

November 24, 2014 Kirk Eggleston

The Eagle Ford Shale rig count increased by three to 268 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, JPMorgan Chase & Co. settled a lawsuit by a group of Texas mineral rights owners in the Eagle Ford Shale.

The lawsuit alleged JP Morgan, as trustee of the South Texas Syndicate (STS) Trust, cheated beneficiaries out of millions of dollars through its’ mis-management of the trust’s oil & gas interests.

The U.S. rig count increased by one to 1,929 rigs running by the end of last week. A total of 355 rigs were targeting natural gas (five more than the previous week) and 1,574 were targeting oil in the U.S. (four 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 (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 decreased by one 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 stayed flat from the previous week at $4.05/mmbtu on Friday afternoon.

The oil rig count increased by four to 252 rigs running by the end of last week. WTI oil prices increased by ~$.40 from the previous week, trading at $76.35/bbl on Friday afternoon. Eagle Ford light crude traded at $73.00/bbl on November 21st.

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 Seven to 265

November 17, 2014 Kirk Eggleston

The Eagle Ford Shale rig count decreased by seven to 265 rigs running across our coverage area by the end of last week.

In recent Eagle Ford news, Woodlands, TX-based Anadarko Corp. entered into a joint venture (JV) with private equity firm KKR & Co. to develop a portion of Anadarko’s East Texas/Eaglebine acreage.

Under the terms of the deal, KKR agreed to carry $442-million of Anadarko’s future capital expenditures in Brazos, Burleson, and Robertson Counties, situated northwest of Houston, TX.

The U.S. rig count increased by three to 1,928 rigs running by the end of last week. A total of 350 rigs were targeting natural gas (six less than the previous week) and 1,578 were targeting oil in the U.S. (10 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.). 902 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 (208 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 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 dropped by $.40 from the previous week to $4.06/mmbtu on Friday afternoon.

The oil rig count decreased by four to 248 rigs running by the end of last week. WTI oil prices decreased by ~$3 from the previous week, trading at $75.97/bbl on Friday afternoon. Eagle Ford light crude traded at $72.75/bbl on Nov. 14th.

A total of 248 rigs are drilling horizontal wells, 9 rigs are drilling directional wells, and 8 rigs are drilling vertical wells. Karnes, La Salle, Dimmit, and DeWitt each have at minimum 26 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.