The number of active oil and natural gas rigs in the United States fell 0.8% to 1,968 for the week ending March 23, 2012. The rig count is still up 13.2% from the year-ago level and is just 2.9% 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 fell 31.9% to 352 this week from 517 the week before, marking the seventh straight decline. The drop puts the rig count 17.9% below the year ago period.

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.