Africa has been the hardest hit region in terms of rig numbers, according to Baker Hughes’ May data.
In that month, Angola, Ghana and Niger dropped to zero rigs. The continent as a whole dropped to 61 rigs, from 103 rigs in April, down 41%. In March, the continent had 123 rigs in work.
This was broken down to 58 onshore rigs in May, down from 83 in April. There were three offshore rigs under contract in May, down from 20 in April. The comparison with March is even more stark, when there were 101 onshore rigs in March and 22 offshore.
Africa took the top spot in terms of percentage rig…