Eagle Ford Shale Rig Count Takes a Dive

The Eagle Ford Shale rig count shrunk by three this week, with our data showing 94 rigs running across our coverage area by midday Friday.

The rig count slowly increased during the first months of 2017, with many viewing this as a sign of recovery for the Eagle Ford Shale region. After a high in May of 101 rigs, the weekly rig count has waffled through June.  

Read more: Eagle Ford Rig Count Pushes to 101

A total of 941 oil and gas rigs were running across the United States this week, an increase of eight over last week. 183 rigs targeted natural gas (three less than the previous week) and 758 were targeting oil in the U.S. (11 more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 460 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

Eight rigs in the Eagle Ford region targeted natural gas this week with the commodity trading at $2.93/mmbtu.

86 Eagle Ford rigs were targeting oil with WTI oil prices at $43.01.

A total of 91 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-June 23, 2017

Eagle Ford Shale News

NAFTA Revision Could Mean Energy Independence

Texas Railroad Railroad Commission Gains Funding

Crude Production Rises in Eagle Ford and Across U.S.

Lonestar Increases Eagle Ford Holdings in 'Transformational' Deal

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.

Texas and Eagle Ford Gain 0 Rigs

The Eagle Ford Shale rig count was unmoved this week with our data showing 97 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, Railroad Commissioner, Christi Craddock is hailing the importance of NAFTA negotiations to the oil and gas industry in Texas.

Read more: NAFTA Revision Could Mean Energy Independence

A total of 933 oil and gas rigs were running across the United States this week, an increase of six over last week. 186 rigs targeted natural gas (one more than the previous week) and 747 were targeting oil in the U.S. (six more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 460 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 $3.04/mmbtu.

88 Eagle Ford rigs were targeting oil with WTI oil prices at $44.74.

A total of 94 rigs are drilling horizontal wells, zero are drilling directional wells and three are vertical.

Karnes County leads this week with 20 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-June 16, 2017

Eagle Ford Shale News

NAFTA Revision Could Mean Energy Independence

Texas Railroad Railroad Commission Gains Funding

Crude Production Rises in Eagle Ford and Across U.S.

Lonestar Increases Eagle Ford Holdings in 'Transformational' Deal

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. 

NAFTA Revision Could Mean Energy Independence

Revising the North American Free Trade Agreement (NAFTA) could mean energy independence for North America, according to Railroad Commissioner, Christi Craddick. 

Related: Eagle Ford Shale and Mexico: An Important Partnership

Last month, the Trump Administration announced its intention to renegotiate the North American Free Trade Agreement (NAFTA). Formal negotiations could begin with Mexico and Canada as early as August 16th.

The original agreement was negotiated over 23 years ago and lacks important regulations for e-commerce, intellectual property, and tougher environmental standards.

Texas has a lot riding on the future of NAFTA. Mexico and Canada are the state's largest trading partners, with billion changing hands every year and thousands of jobs at stake. 

• Texas exported over $232 billion of goods and services in 2016
• Texas exported $93 billion to Mexico
• Texas exported almost $20 billion to Canada in 2016
• In 2014, over 41,000 Texas companies exported goods from a Texas address

Read more about Texas and NAFTA here

Railroad Commissioner, Christi Craddock wrote an article last week hailing the importance of NAFTA negotiations to the oil and gas industry in Texas. She emphasized the work that has taken place over the last two years building the infrastructure to move natural gas to Mexico. Renegotiations might allow for better coordination of these efforts. 

“Overall, NAFTA has been great for Texas. We run a trade surplus with our neighbor to the south, with Mexican exports accounting for 6 percent of the state’s GDP, compared to 1.3 percent nationwide. However, there are some areas where the original 1993 agreement is either silent or outdated. President Trump’s plans to work with Canadian and Mexican officials to revise the treaty could offer U.S. businesses and consumers a once-in-a-generation opportunity to build on what came before. Given my focus in the energy sector, three areas I would like to see included in negotiations relate to energy infrastructure, investment and the environment.”

— Christi Craddick, Texas Railroad Commissioner

Craddick expressed hopes that Texas will provide leadership in the negotiations. As one of the leading regulators of oil and gas in the world, the Railroad Commission has led the way in developing best practices and standards.

Read Craddick's full article here

Texas Railroad Railroad Commission Gains Funding

The Texas Senate has approved increased funding for the Texas Railroad Commission.

Related: RRC Facing Budget Challenges

The Texas Legislature recently approved its 2018-2019 budget, which gives approximately $256.1 million to the Texas Railroad Commission (RRC).

The much-needed dollars will allow the RRC to strengthen its inspection and enforcement capabilities as well as hiring additional employees. 

“Oil and gas production generates billions of dollars in revenue for the state, providing funding for critical services in our communities and opportunities supporting our state’s bright future. Our state’s energy success is driven not only by Texas’ vast mineral wealth, but by the regulatory leadership of the Railroad Commission. We at the Commission are proud of the work we do to ensure the protection of all Texans and our environment while allowing the energy industry to safely innovate and thrive.”

— Commissioner Chairman Christi Craddick

Funding from Senate Bill 1 includes: 

• $5.9 million increase for pipeline safety inspection
• $3 million and 7 full-time employees for IT modernization projects related to inspection and enforcement tracking and reporting
• $40.7 million increase for oil and gas well plugging and remediation activities
• $39.6 million for operational stability

The Texas Railroad Commission has been facing a budget crunch as oil and gas prices continue to be unstable. Commissioner Christi Craddick said the agency’s number of employees dropped from 1500 in the 1990’s to 690 in 2017. The jobs shortage presents a huge challenge for the agency, because the work still has to be done.

Senate Bill 1 is currently pending the Governor's signature into law.

http://www.rrc.texas.gov/about-us/commissioners/craddick/news/053017a/ NOFOLLOW- Read more at the RRC website.

Eagle Ford Rig Count Drops to 97

The Eagle Ford Shale rig count lost ground this week with our data showing a drop to 97 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, the EIA reports that crude oil production across South Texas and the U.S. is at its highest level in over a year.

Read more: Crude Production Rises in Eagle Ford and Across U.S.

A total of 927 oil and gas rigs were running across the United States this week, an increase of 11 over last week. 185 rigs targeted natural gas (three more than the previous week) and 741 were targeting oil in the U.S. (eight more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 460 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

Eight rigs in the Eagle Ford region targeted natural gas this week with the commodity trading at $3.04/mmbtu.

89 Eagle Ford rigs were targeting oil with WTI oil prices at $45.83

A total of 94 rigs are drilling horizontal wells, zero are drilling directional wells and three are vertical.

Karnes County leads this week with 20 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-June 9, 2017

Eagle Ford Shale News

Crude Production Rises in Eagle Ford and Across U.S.

Lonestar Increases Eagle Ford Holdings in 'Transformational' Deal

Eagle Ford Oil Production Back on Top

Eagle Ford Shale Gaining Strength through 2017

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.