The number of active oil and natural gas rigs in the United States fell 0.2% to 1,983 for the week ending May 25, 2012, after reaching an eleven-week high of 1,986 last week.  The rig count is also up 7.4% from the year-ago level of 1,847.

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 jumped 28.5% to 158 this week, up significantly from 123 last week.  Despite the jump, the rig count is still down 11.7% from the year-ago level of 179.

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.