The number of active oil and natural gas rigs in the United States fell 0.3% to 1,966 for the week ending June 22, 2012, the second consecutive weekly drop and a seven-week low.  Despite the decline, the rig count is up 4.5% from the year-ago level of 1,882.

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 declined 4.0% this week to 238, down ten rigs from last week.  The rig count is also down 4.8% from the year-ago level of 250.

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.