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Eagle Ford drilling activity shrinks as oil price drops to $52 a barrel

2015-07-13 03:14:57| Oil & Gas - Topix.net

New drilling activity took a slide in the Eagle Ford shale amid $52 per barrel oil prices, according to figures released on July 10. West Texas Intermediate crude oil prices had been trading around $60 per barrel in recent weeks, but it since sank to around $52 in recent days over uncertainty about Greece and Iran flooding the market with cheap oil. Figures from the Baker Hughes rig count released on July 10 showed that new drilling fell from 106 active rigs to 102 operating in the Eagle Ford shale region just south of San Antonio.

Tags: price activity oil ford

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