For the Week Ending January 20, 2012
Refinery Utilization decreased by 254 mb/d or 1.5% from the prior week. This is also a 6.4% decrease YoY.
Total U.S. Rigs were recorded at 2008, +21 higher than the prior week and a 17.2% increase YoY.
Gas rigs decreased by 11 and oil rigs increased by 32, as companies are shifting to more liquid plays like the Bakken, and out of natural gas plays like the Haynesville due to the oversupply and persistently low natural gas prices. Ceramic proppant company Carbo Ceramics (ticker: CRR), which gets a good amount of revenue from the Haynesville took a big hit last week after missing earnings.
Oklahoma added 9 rigs, most likely in the liquid rich Cana-Woodford Shale, while North Dakota, Montana, and Wyoming added 4 rigs each.