Newbuild Program Driven by Strong Customer Demand Reinforces Strategy of
Fleet Renewal and Standardization
LONDON--(BUSINESS WIRE)--
Responding to continued customer demand, Ensco plc (NYSE: ESV) has
ordered a new premium jackup rig for delivery in early 2015. ENSCO 110,
based on the Keppel FELS B Class Bigfoot design, will be constructed
under a fixed-price contract with Keppel FELS Limited (KFELS) in
Singapore. Including commissioning, systems integration testing and
project management, the construction cost is expected to be
approximately $225 million.
“The market for premium jackups is very strong and we expect this trend
to continue,” said Dan Rabun, Ensco Chairman, President and CEO.
“Customer demand is broad-based for high-specification jackup rigs, and
this rig can work in virtually every shallow water basin around the
world.”
Three active Ensco rigs, ENSCO 106, ENSCO 107 and ENSCO 108, are also
based on the KFELS B Class Bigfoot design.
“We are strong proponents of rig standardization, and this latest order
is in line with our strategy,” said John Knowlton, Ensco Senior Vice
President, Technical. “Design standardization allows us to staff,
operate and maintain our rigs more efficiently, and our customers reap
the benefits of this through increased reliability.”
The KFELS B Class Bigfoot design is capable of working at water depths
up to 400 feet with a maximum drilling depth of 30,000 feet. ENSCO 110
will have a nominal variable deck load of 7,500 kips and a cantilever
load of 2,500 kips. It also has a 1.5 million-pound derrick, TDS-8 top
drive and 15k BOP. Ensco has customized the rig to add dual drilling
fluid capability and to upgrade the living quarters to 6 one-person and
67 two-person rooms.
With this contract, Ensco now has seven newbuild rigs on order,
including four jackup rigs and three ultra-deepwater drillships. The two
ultra-premium harsh environment jackups and one ultra-deepwater
drillship scheduled for delivery in 2013 are all contracted.
“Our ongoing strategy of highgrading our fleet not only creates
additional earnings potential for Ensco but contributes to our ability
to maintain our number one rating in customer satisfaction and to
attract the best employees in the industry,” Rabun added.
Ensco plc (NYSE: ESV) brings energy to the world as a global provider of
offshore drilling services to the petroleum industry. For more than 25
years, the company has focused on operating safely and exceeding
customer expectations. Ensco is ranked #1 for total customer
satisfaction with top honors in 10 of 16 categories in the most recent
annual survey by EnergyPoint Research. Operating the world’s newest
ultra-deepwater fleet and largest fleet of active premium jackups, Ensco
has a major presence in the most strategic offshore basins across six
continents. 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. To learn more, visit our
website at www.enscoplc.com.
Statements contained in this press release that are not historical
facts are forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Forward-looking statements include words or phrases such as
“anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,”
“project,” “could,” “may,” “might,” “should,” “will” and similar words
and specifically include statements regarding expected financial
performance, day rates and backlog; and general market, business and
industry conditions, trends and outlook. Such statements are subject to
numerous risks, uncertainties and assumptions that may cause actual
results to vary materially from those indicated, including downtime and
other risks associated with offshore rig operations; and possible
cancellation or suspension of drilling contracts as a result of
mechanical difficulties, performance or other reasons. In addition to
the factors described above, you should also carefully read and consider
“Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion
and Analysis of Financial Condition and Results of Operations” in Part
II of our most recent annual report on Form 10-K, which is available on
the SEC’s website at www.sec.gov
or on the Investor Relations section of our website at www.enscoplc.com.
Each forward-looking statement speaks only as of the date of the
particular statement, and we undertake no obligation to publicly update
or revise any forward looking statements, except as required by law.
Source: Ensco plc