The number of active oil and natural gas rigs in the United States fell for the fourth straight week – declining by 25 to a 22-month low of 1,774 for the week ending December 21, 2012 – down 1.4% from last week and 11.7% from a year ago.
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 also fell – down 8.2% to 384 from 418 last week, and some 5.4% below the year-ago level.
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.
