Drilling activity declines for eighth-straight week in the Eagle Ford

Low crude oil prices are continuing to reduce the number of active rigs operating in the Eagle Ford Shale and the Permian Basin.

Crude oil prices are currently hovering slightly above $50 per barrel, but the latest data released on Feb. 13 by Houston-based Baker Hughes Inc. (NYSE: BHI) show declines in active rigs across the board.

Friday’s figures show that the rig count in the Eagle Ford Shale dropped from 168 active rigs to 164 over the past week. This represents the eighth-straight week of…