Profile: Ensco PLC (ESV.N)
20 Dec 2013
Ensco plc (Ensco) is a provider of offshore contract drilling services to the international oil and gas industry. As of December 31, 2011, the Company owned and operated an offshore drilling rig fleet of 77 rigs, including rigs under construction. As of December 31, 2011, its rig fleet included seven drillships, 13 dynamically positioned semisubmersible rigs, seven moored semisubmersible rigs, 49 jackup rigs and one barge rig. Its customers include national and international oil companies. On May 31, 2011, the Company completed a merger transaction (the Merger) with Pride International, Inc., (Pride), ENSCO International Incorporated, an indirect, wholly owned subsidiary and predecessor of Ensco plc (Ensco Delaware), and ENSCO Ventures LLC, an indirect, wholly owned subsidiary of Ensco plc (Merger Sub). Pursuant to the Agreement and Plan of Merger, Merger Sub merged with and into Pride, with Pride as the surviving entity and an indirect, wholly owned subsidiary of Ensco plc.
The regions, in which the Company operates includes markets in Southeast Asia, Australia, the North Sea, Mediterranean, the United States Gulf of Mexico, Mexico and Middle East, as well as the deepwater markets in Brazil and West Africa. It provides drilling services on a day rate contract basis. Under day rate contracts, it provides a drilling rig and rig crews and receive a fixed amount per day for drilling a well. It operates in three segments: Deepwater, which consists of its drillships and semisubmersible rigs capable of drilling in water depths of 4,500 feet or greater; Midwater, which consists of its semisubmersible rigs capable of drilling in water depths of 4,499 feet or less, and Jackup, which consists of its jackup rigs capable of drilling in water depths up to 400 feet. Of the Company’s 77 rigs, 20 are located in the North and South America region (excluding Brazil), 11 are located in Brazil, nine are located in the Europe and Mediterranean region, 17 are located in the Middle East and Africa region and 20 are located in the Asia Pacific rim region.
6 Chesterfield Gardens
LONDON W1J 5BQ