The number of active oil and natural gas rigs in the United States increased 1.3 % from 1,769 last week to 1,792 for the week ending March 7, 2014, reaching the highest count since December 14, 2012.  The count is some 2.3% above the year-ago level of 1,752.

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 6.2% from 626 last week to 587 this week, falling for a second time after an eight-week climb.  Despite the fall, the count is some 1.2% above the year-ago level of 580.

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.