Eagle Ford Rig Count Flat as U.S. Total Drops

November 4, 2017 Elizabeth Alford

The Eagle Ford Shale rig count remained flat this week, while U.S. totals dropped by 11. There were 85 rigs running across our coverage area by midday Friday.

In recent industry news, oil prices rose to a two-year high this week with West Texas Intermediate (WTI) crude climbing to $55.64 a barrel.

Oil Prices on the Rise

A total of 898 oil and gas rigs were running across the United States this week, 11 less than last week. 169 rigs were targeting natural gas (- 3) and 729 were targeting oil in the U.S. (-8). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 444 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

8 rigs in the Eagle Ford region targeted natural gas this week with the commodity trading at $2.98/mmbtu.

77 Eagle Ford rigs were targeting oil with WTI oil prices holding at $55.64.

A total of 75 rigs are drilling horizontal wells, three are drilling directional wells and seven are vertical.

Karnes County leads activity in the region with 17 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 Shale Rig Count by County-November 2 2017

Eagle Ford Shale News

Oil Prices on the Rise

Eagle Ford Expects Meager Gains in November

New Tech Designed to Get to the Bottom of Texas Earthquakes

Railroad Commission Gains New Leadership

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.

Oil Prices on the Rise

November 3, 2017 Elizabeth Alford

Oil prices rose to a two-year high this week with West Texas Intermediate (WTI) crude climbing to $55.64 a barrel.

Eagle Ford Expects Meager Gains in November

Prices for crude oil have been on a steady increase over the past few weeks and showing signs that they might go even higher. Even better is that oil prices have maintained their gains causing some analysts to rethink whether a $60 price floor might be possible.

Gains this Week

WTI Crude: Increased $1.10 (2%), at $55.64 a barrel
Brent Futures: Increased $1.45 (2.4%) at $62.07 a barrel

Higher prices are causing a brighter outlook for the producers and investors. Even more significant are the cost-cutting and spending reductions operators have initiated over the last two years that have enabled them to be more efficient at lower prices.

All eyes are on OPEC, who has its next meeting on November 30th in Vienna. It is expected that the group will announce another extension of the oil production cut initiated three years ago.

Eagle Ford Shale Rig Count Jumps to 85

October 29, 2017 Elizabeth Alford

The Eagle Ford Shale rig count gained two this week, increasing to 85 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, the Energy Information Administration (EIA) is predicting an increase of 81,000 barrels a day next month for shale drilling, bringing the total output to 6.12 million barrels a day.

Eagle Ford Expects Meager Gains in November

A total of 909 oil and gas rigs were running across the United States this week, four less than last week. 172 rigs were targeting natural gas (- 5) and 737 were targeting oil in the U.S. (+1). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 441 of the rigs active in the U.S. were running in Texas.

Eagle Ford Oil & Gas Rigs

8 rigs in the Eagle Ford region targeted natural gas this week with the commodity trading at $2.96/mmbtu.

77 Eagle Ford rigs were targeting oil with WTI oil prices at $53.90.

A total of 75 rigs are drilling horizontal wells, three are drilling directional wells and seven are vertical.

Karnes County leads activity in the region with 16 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 Shale Rig Count by County-October 27, 2017

Eagle Ford Shale News

Eagle Ford Expects Meager Gains in November

New Tech Designed to Get to the Bottom of Texas Earthquakes

Railroad Commission Gains New Leadership

Sanchez Sells Eagle Ford Acres for $105 Million

What is the Rig Count?

Eagle Ford Expects Meager Gains in November

October 24, 2017 Elizabeth Alford

U. S. Energy Information Administration | Drilling Productivity Report

November will be a strong month for U.S. shale oil, but the Eagle Ford will likely see only meager increases in production.

Eagle Ford Shale Rig Count Inches up to 83

The Energy Information Administration (EIA) is predicting an increase of 81,000 barrels a day next month for shale drilling, bringing the total output to 6.12 million barrels a day.

The greatest gains will be in the Permian basin region of west Texas, where the agency expects increases of 50,000 barrels a day in November. Other shale fields that will see increases include:

The Eagle Ford: 2,000 barrels a day
Anadarko basin: 9,000 barrels a day
Niobrara: 9,000 barrels a day
Bakken shale: 8,000 barrels a day

**U.S. shale oil and gas regions, source: U.S. Energy Information Administration**

The Eagle Ford will see larger increases for natural gas production in November, with the EIA predicting an increase by 18 million cubic feet/day.

Hurricane Harvey disrupted U.S. production by 186,000 b/d in August and decreasing to 53,000 b/d in September. Hurricanes Irma and Maria did not affect U.S. crude oil production

Eagle Ford Shale Rig Count Inches up to 83

October 21, 2017 Elizabeth Alford

The Eagle Ford Shale rig count reversed its recent trend of losses and ended with 83 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, new technology provided by the University of Texas at Austin will monitor seismic activity in real time and allow scientists to learn more about what causes Texas earthquakes.

New Tech Designed to Get to the Bottom of Texas Earthquakes

A total of 913 oil and gas rigs were running across the United States this week, 15 less than last week. 177 rigs were targeting natural gas (- 8) and 736 were targeting oil in the U.S. (-7). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 436 of the rigs active in the U.S. were running in Texas.