The number of active oil and natural gas rigs in the United States fell 0.8% to 1,973 for the week ending March 9, 2012. However, the rig count is up 15.0% from the year-ago level and is just 2.6% off the 2011 high of 2,026 for the week ending November 4, 2011.

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 this week decreased 3.8% to 655 from 681 last week, marking the fifth straight decline – totaling 7.7% over that period – although the count was still 4.3% higher than last year.

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.