Eagle Ford Rig Count on the Move!
The Eagle Ford Shale rig count increased by six this week, with our data showing 99 rigs running across our coverage area by midday Friday.
In recent Eagle Ford News, NuStar Energy experienced low volumes from their Eagle Ford assets during the first quarter but say the recent increase in drilling activity are cause for optimistic.
Read more: NuStar Sees Positive Turn in Eagle Ford
A total of 870 oil and gas rigs were running across the United States this week, an increase of 13 over than last week. 171 rigs targeted natural gas (four more than the previous week) and 697 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.) 437 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
Nine rigs in the Eagle Ford region targeted natural gas this week with the commodity trading at $3.28/mmbtu.
90 Eagle Ford rigs were targeting oil with WTI oil prices moving to $49.33
A total of 94 rigs are drilling horizontal wells, two are drilling directional wells and three are vertical.
Karnes County leads this week with 22 rigs in production. See the full list below in the Eagle Ford Shale Drilling by County below.
Eagle Ford Shale Drilling by County
Eagle Ford Rig Count by County-April 28, 2017
Eagle Ford Shale News
NuStar Sees Positive Turn in Eagle Ford
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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.
The Eagle Ford Shale drilling rig count has had its ups and downs, marking the rise of the region's shale development and the decline brought on by low crude prices. The following infographic shows the rig count trends since 2011.