LONDON--(BUSINESS WIRE)--
Ensco plc (NYSE: ESV), as previously reported, has entered into a
drilling contract for ENSCO 120, an ultra-premium harsh environment
jackup rig. The initial contract is with Nexen Petroleum for their
Golden Eagle Development in the Central North Sea for 10 wells with an
estimated initial contract value of approximately $120 million. Contract
commencement is scheduled for fourth quarter 2013 following systems
integration testing and mobilization. Nexen may extend the term through
11 one-well options that would increase the contract value by an
estimated $140 million.
Chairman, President and Chief Executive Officer
Dan Rabun
commented, “We
are very pleased that Nexen has contracted ENSCO 120, which is scheduled
for delivery in second quarter 2013. Nexen will receive unmatched value
and increased drilling efficiencies from this extremely capable and
versatile rig, as well as Ensco’s expertise and experience operating in
the North Sea.”
The ENSCO 120 series of jackup rigs (ENSCO 120, ENSCO 121 and ENSCO 122)
is being constructed at Keppel FELS shipyard in Singapore. The new
jackup rigs will be enhanced versions of the KFELS Super A design
capable of operating in water depths up to 400'. The unique design
features significantly increase Ensco’s capability to provide high
specification, harsh environment jackups across the North Sea.
With high-temperature, high-pressure equipment, a proprietary Ensco
high-capacity design cantilever envelope, 2.5 million pound quad
derrick, automated hands-free offline pipe handling systems, ultra-high
capacity jacking and fixation systems, 150-person quarters and strict
noise and ergonomic standards, these rigs feature equipment and
capabilities previously found only in the largest ultra-harsh
environment jackup fleet and set a new standard in the harsh environment
category. These extremely capable and versatile rigs offer customers
unprecedented value through increased drilling efficiencies for the most
demanding large multi-well platform programs, ultra-deep gas programs
and ultra-long reach wells up to 40,000' total drilling depth in oil and
gas regions throughout the world.
ENSCO 121 and ENSCO 122 are scheduled for delivery in fourth quarter
2013 and third quarter 2014, respectively.
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Ensco plc (NYSE: ESV) brings energy to the world as a global provider of
offshore drilling services to the petroleum industry. We have the
world’s second largest offshore drilling fleet comprised of
dynamically-positioned drillships and semisubmersibles, moored
semisubmersibles and premium jackups. Ensco is ranked #1 for overall
customer satisfaction in the leading independent survey conducted by
EnergyPoint Research with #1 ratings in 14 of 16 separate categories. To
learn more about Ensco, please visit our website at www.enscoplc.com.
Ensco plc is an English limited company (England No. 7023598) with its
registered office and corporate headquarters located at 6 Chesterfield
Gardens, London W1J 5BQ.
Statements contained in this news release that state Company or
management intentions, hopes, beliefs, anticipations, expectations or
predictions of future events are forward-looking statements. Such
forward-looking statements include references to the expected delivery
dates of ENSCO 120, ENSCO 121 and ENSCO 122, mobilization, revenue,
commencement and term of the ENSCO 120 contract with Nexen Petroleum.
It is important to note that the Company's actual results could
differ materially from those projected in such forward-looking
statements. The factors that could cause actual results to differ
materially from those in the forward-looking statements include the
following: (i) changes or delays in the anticipated rig construction,
sea trials, mobilization and commencement, (ii) changes in the actual
drilling contract revenues or term, (iii) renegotiation, cancellation,
or breach of contracts, (iv) shipyard risks, (v) force majeure events,
and (vi) the operational and other risks described from time to time in
the Company's SEC filings. Copies of such SEC filings may be obtained at
no charge by contacting our Investor Relations Department at
713-917-2112 or by referring to the Investor Relations section of our
website at www.enscoplc.com.
The Company disclaims any obligation or undertaking to disseminate
any updates or revisions to any forward-looking statements to reflect
any change in Company or management expectations or any change in
events, conditions or circumstances on which any such statements are
based.
Source: Ensco plc