The number of active oil and natural gas rigs in the United States rose 1.0% to 1,965 for the week ending May 4, 2012, rebounding from last week’s 8-month low of 1,945.  The rig count is also up 7.0% from the year-ago level.

The highest weekly rig count in the United States since 1940 was recorded on December 28, 1981, at 4,530; the lowest was recorded on April 23, 1999, at 488.

The number of rigs in Canada decreased 2.2% to 131 this week from 134 last week, marking the thirteenth consecutive weekly decline.  The rig count is up 6.5% from the year-ago level however.

The highest rig count for Canada was 727 on February 3, 2006; the lowest was 29, recorded on April 24, 1992.

Source: Baker Hughes Inc.