The number of active oil and natural gas rigs in the United States decreased for the second week, down 0.4% from 1,771 last week to 1,764 for the week ending February 14, 2014.  The count is a mere 0.1% above the year-ago level of 1,762.

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 climbed for the seventh consecutive week, up 0.5% from 621 last week to 624 this week, and is still at the highest count since March 1, 2013.  The count has increased 137.3% since the beginning of the year, but is some 4.1% below the year-ago level of 651.

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.