LONDON--(BUSINESS WIRE)--Ensco plc (NYSE: ESV) announced today that it has entered into a three-year contract with NDC for a new premium jackup, ENSCO 110. This newbuild rig is scheduled to commence operations later this month offshore United Arab Emirates at a rate of approximately $114,000 per day.
NDC has also contracted ENSCO 104 for a three-year term at a day rate of $114,000. The rig is mobilizing to the Middle East from the Asia Pacific region and is scheduled to commence its new contract in late-June 2015.
Chief Executive Officer Carl Trowell commented, “We are pleased to extend our relationship with NDC. The Middle East is the largest market for premium jackups, and we continue to invest in new rig technology for the benefit of customers. In addition to ENSCO 110, two more high-specification jackups, ENSCO 140 and ENSCO 141, are scheduled for delivery in 2016 from Lamprell’s shipyard in the United Arab Emirates.”
ENSCO 110 is based on the Keppel FELS B Class Bigfoot design, which is capable of working at water depths up to 400 feet with a maximum drilling depth of 30,000 feet. The rig has a nominal variable deck load of 7,500 kips and a cantilever load of 2,500 kips. It includes a 1.5 million-pound derrick, TDS-8 top drive and 4-ram 15,000-psi BOP. Ensco customized the rig to add dual drilling fluid capability and upgraded the living quarters to accommodate 150 persons on board.
ENSCO 104 is based on the KFELS Class B design. The rig operates in water depths up to 400 feet with a maximum drilling depth of 30,000 feet. The rig has a variable deck load of 8,025 kips and a cantilever load of 1,675 kips. It includes a 1.5 million-pound derrick, TDS-8 top drive and 4-ram 10,000-psi BOP.
Ensco plc (NYSE: ESV) brings energy to the world as a global provider of offshore drilling services to the petroleum industry. For more than 27 years, the company has focused on operating safely and going beyond customer expectations. Ensco is ranked first in total customer satisfaction in the latest independent survey by EnergyPoint Research – the fifth consecutive year that Ensco has earned this distinction. Operating one of the newest ultra-deepwater rig fleets and the largest premium jackup fleet, 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 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 and return of capital, effective tax rate, day rates and backlog; the timing of delivery, mobilization, contract commencement, relocation or other movement of rigs; 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 commodity price fluctuations, customer demand, new rig supply, downtime and other risks associated with offshore rig operations, relocations, severe weather or hurricanes; changes in worldwide rig supply and demand, competition and technology; future levels of offshore drilling activity; governmental action, civil unrest and political and economic uncertainties; terrorism, piracy and military action; risks inherent to shipyard rig construction, repair, maintenance or enhancement; possible cancellation, suspension or termination of drilling contracts as a result of mechanical difficulties, performance, customer finances, the decline or the perceived risk of a further decline in oil and/or natural gas prices, or other reasons, including terminations for convenience (without cause); the outcome of litigation, legal proceedings, investigations or other claims or contract disputes; governmental regulatory, legislative and permitting requirements affecting drilling operations; our ability to attract and retain skilled personnel on commercially reasonable terms; environmental or other liabilities, risks or losses; debt restrictions that may limit our liquidity and flexibility; our ability to realize the expected benefits from our redomestication and actual contract commencement dates; cybersecurity risks and threats; and the occurrence or threat of epidemic or pandemic diseases or any governmental response to such occurrence or threat. In addition to the numerous 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, as updated in our subsequent quarterly reports on Form 10-Q, which are 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.