Rig Counts Decline Across the Country and the Eagle Ford Shale
The Eagle Ford Shale rig count continues to struggle, falling by 2 this week to 91 rigs running across our coverage area by midday Friday.
The total rig count across Texas adn the U.S. also declined for the first time in months.
In recent Eagle Ford Shale news, the number of Texas oil and gas companies seeking debt relief decreased from 18 during the first four months of 2016 to four in 2017.
Bankruptcies Spike Across Texas; Shrink for Oil & Gas
A total of 950 oil and gas rigs were running across the United States this week, two less than last week. 186 rigs targeted natural gas (one less than the previous week) and 764 were targeting oil in the U.S. (one less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 463 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
10 rigs in the Eagle Ford region targeted natural gas this week with the commodity trading lower at $2.97/mmbtu.
81 Eagle Ford rigs were targeting oil with WTI oil prices at $45.77.
A total of 88 rigs are drilling horizontal wells, zero are drilling directional wells and three are vertical.
Karnes County leads this week with 21 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-July 21, 2017
Eagle Ford Shale News
Bankruptcies Spike Across Texas; Shrink for Oil & Gas
Crude Oil Spill in Bastrop County
Eagle Ford Shale Counties Rank First in Oil, Gas and Condensate
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.