Profile: Ensco PLC (ESV)
8 Oct 2015
Ensco plc (Ensco), incorporated on September 18, 2009, is a global offshore contract drilling company. The Company provides offshore contract drilling services to the international oil and gas industry. The Company operates in three segments: Floaters, which includes its drill ships and semisubmersible rigs; Jackups and Other, which consists of management services on rigs owned by third-parties. Its Floaters and Jackups segments provide contract drilling. It owns and operates an offshore drilling rig fleet of 70 rigs, including seven rigs under construction, with drilling operations in markets around the globe. Its rig fleet includes 10 drill ships, 13 semisubmersible rigs, five moored semisubmersible rigs and 42 jackup rigs. Of its 70 rigs, 17 are located in North and South America (excluding Brazil), 17 are located in the Middle East and Africa (including two rigs under construction), 17 are located in the Asia Pacific rim (including five rigs under construction), 15 are located in Europe and the Mediterranean and fits are located in Brazil.
The Company’s customers include national and international oil companies, in addition to independent operators. The Company has operations and drilling contracts spanning approximately 20 countries on six continents. The markets in which it operates include the United States Gulf of Mexico, Mexico, Brazil, the Mediterranean, the North Sea, the Middle East, West Africa, Australia and Southeast Asia. It entered into agreement with KFELS to construct three jackup rigs, which include ENSCO 120, ENSCO 121 and ENSCO 122. It delivered ENSCO 120, ENSCO 121 and ENSCO 122 and commenced drilling operations under a long-term contract in the North Sea. The Company has three ultra-deep-water drill ships under construction, which include ENSCO DS-8, ENSCO DS-9 and ENSCO DS-10. Its drilling contracts provide for varying levels of indemnification from its customers, including with respect to damages from well control events.
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