Rig Will Be Renamed ENSCO 109
LONDON--(BUSINESS WIRE)--
Ensco plc (NYSE:ESV) announced today that a subsidiary of the Company
has purchased Diamond Offshore's (NYSE:DO) Ocean Shield jackup drilling
rig, a KFELS Super B Class design, delivered in 2008. The rig will be
renamed ENSCO
109.
The unique design includes two million pound hoisting capacity, a 15,000
psi high-pressure BOP and nearly 5,000 bbls of liquid mud capacity that
make ENSCO 109 ideally suited to drill deep gas wells - a high growth
area in the premium jackup market. The design also permits drilling in
water depths up to 350' to a total depth of 35,000'. Industry-wide, all
of the KFELS Super B Class jackups are contracted.
Chairman, President and CEO
Dan Rabun
stated, "The Middle East and
Southeast Asia, in particular, are regions where we believe customers
will require more high-spec, deep-gas jackup rigs. ENSCO 109 will
address this growing need and is expected to command higher day rates
than standard duty jackups."
Mr. Rabun added, "Purchasing ENSCO 109 is part of our long-established
strategy of high-grading our fleet by investing in newer equipment. We
will continue to look for opportunities to acquire premium offshore rigs
that can generate favourable returns for our shareholders."
ENSCO 109 was purchased with available cash for approximately $186
million. The Company will assume the current drilling contract for the
rig with Apache Corp. in Australia that extends through May 2011.
The rig was built in Keppel FELS shipyard in Singapore where Ensco's
four remaining ENSCO 8500 Series(R) ultra-deepwater semisubmersible
drilling rigs are being constructed.
Ensco plc (NYSE:ESV) brings energy to the world as a global provider of
offshore drilling services to the petroleum industry. With a fleet of
ultra-deepwater semisubmersible and premium jackup drilling rigs, Ensco
serves customers with high-quality equipment, a well-trained workforce
and a strong record of safety and reliability. To learn more about
Ensco, please visit our website at www.enscoplc.com.
Ensco plc (England No. 7023598) has its registered office and global
headquarters located at 6 Chesterfield Gardens, London, W1J 5BQ.
Statements contained in this press release that state the Company's
or management's intentions, plans, hopes, beliefs, expectations,
anticipations, projections, confidence, schedules, or predictions of the
future are forward-looking statements made pursuant to the Private
Securities Litigation Reform Act of 1995.
Forward-looking statements include words or phrases such as
"anticipate," "believe," "estimate," "expect," "intend," "plan,"
"project," "could," "may," "might," "should," "will" and words and
phrases of similar import.
The forward-looking statements include, but are not limited to,
statements about growing demand for high-spec jackup rigs, the day rates
that high-spec jackup rigs are expected to command relative to
standard-duty jackup rigs, and the assumption of the current drilling
contract for with Apache Corp. in Australia.
Forward-looking statements are made pursuant to safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Numerous factors could cause actual results to differ materially from
those in the forward-looking statements, including a decline in demand
for high-spec jackup rigs and/or an increasing supply of high-spec
jackup rigs, a decline in day rates for high-spec jackup rigs, risks
related to assuming the current contract for ENSCO 109 in Australia,
including risks related to satisfying regulatory approvals, and other
factors, including risks as described from time to time as Risk Factors
in the Company's SEC filings.
Copies of such SEC filings may be obtained at no charge by contacting
our Investor Relations Department at 214-397-3045 or by referring to our
website at www.enscoplc.com.
All information in this press release is as of today. The Company
undertakes no duty to update any forward-looking statement, to conform
the statement to actual results, or reflect changes in the Company's
expectations.
Source: Ensco plc