Eagle Ford Rig Count Inches Up

June 3, 2016 Elizabeth Alford

Eagle Ford Rig Count Goes Up

The Eagle Ford Shale rig count inches up by one this week, ending with 32 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, Chesapeake Energy and Total E&P have agreed to pay $52.5 million to over 13,000 landowners who were cheated out of natural gas royalties.

A total of 407 oil and gas rigs were running across the United States this week, an increase of four over last week. 82 were targeting natural gas (five less than the previous week) and 325 were targeting oil in the U.S. (nine more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 176 of the rigs active in the U.S. were running in Texas.

Baker Hughes reports its own Eagle Ford Rig Count that covers the 14 core counties. 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 below.

Eagle Ford Oil & Gas Rigs

Natural gas rigs were steady this week at three across the Eagle Ford, while natural gas prices jumped to $2.41/mmbtu.

The Eagle Ford rigs targeting oil increased to 29 with WTI oil prices dipping to $48.82, a $.45 decrease this week. A total of 30 rigs are drilling horizontal wells, zero are drilling directional wells, and one are vertical rigs.

Karnes County leads development in the region with 8 rigs running this week. See the full list below in the Eagle Ford Shale Drilling by County below.

Eagle Ford Shale Drilling by County

Eagle Ford Shale News

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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.