Eagle Ford rig count decreases 70% from previous year levels

The Eagle Ford rig count has decreased 70% from year-ago numbers, according to Baker Hughes data released Feb. 26, which shows that there are 47 drilling rigs still working in this shale play compared to 157 at this same time in 2015. The data also revealed that the number of active rigs in the Eagle Ford fell from 54 to 47 rigs in just one week's time.

So far this year, 29 rigs have been idled in the Eagle Ford shale play, and the overall Texas rig count has decreased by 90 rigs. Approximately 231 rigs are still operating in Texas.  

The Baker Hughes rig count data showed only 400 rigs drilling for oil across the US, which is down 75% from the October 2014 peak of 1,609. Approximately 60% of this falling count happened in 2015. The total US rig count is now 502, with 102 of these being natural gas rigs. The data’s lowest US rig count was recorded in 1999 – and the current US rig count is just 14 rigs above this lowest point.

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