The number of active oil and natural gas rigs in the United States declined to 1,762 for the week ending May 24, 2013, down 0.4% from last week’s count of 1,769 and 11.1% below the year-ago level of 1,983.

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 rose 6.5% to 131, the second consecutive weekly increase.  Despite the uptick, the number is down 17.1% compared to last year’s 158.

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.