The number of active oil and natural gas rigs in the United States fell 0.2% to 1,980 for the week ending June 1, 2012, the second consecutive decline after reaching an eleven-week high of 1,986.  However, the rig count is up 6.8% from the year-ago level of 1,854.

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 dropped 1.3% to 156 this week, down from 158 last week.  The rig count is also down 15.2% from the year-ago level of 184.

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.