The number of active oil and natural gas rigs in the United States increased for the second consecutive week, up 1.3% from 1,754 to 1,777 for the week ending January 17, 2014.  The count is now some 1.6% above the year-ago level of 1,749.

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 jumped for the third consecutive week, climbing up 18.5% from 477 last week to 565 this week and reaching the highest count since March 8, 2013.  Despite the increase, the count is some 6.0% below the year-ago level of 601.

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.