The Eagle Ford Shale rig count decreased by four to 272 rigs running across our coverage area by the end of last week. The oil rig count decreased by seven to 252 rigs and the natural gas rig count increased by three to 20 rigs running by the end of last week. If prices drop below $70 per barrel, experts believe the Eagle Ford will likely experience a slowdown, but not an all out bust. Read more.
Denton residents overwhelmingly approved a ban on hydraulic fracturing in city limits. Texas Oil & Gas Association file a lawsuit in Denton County asking the ban to be overturned and Texas Land Commissioner Jerry Patterson filed a separate lawsuits in Travis county. Patterson says the ban would prevent him from leasing state lands for drilling, a big revenue source for the state. “This ban on hydraulic fracturing is not constitutional and it won’t stand,” Patterson said. Read more.
For more information visit the nobullradio.com website. This has been Randy Watson of the No Bull Radio Network for the Eagle Ford Minute.