Press release from Business Wire
Ensco Accepts Delivery of ENSCO DS-7 Ultra-Deepwater Drillship; Contracted to Total in Angola for Three Years
Wednesday, September 04, 2013
Ensco Accepts Delivery of ENSCO DS-7 Ultra-Deepwater Drillship; Contracted to Total in Angola for Three Years11:24 EDT Wednesday, September 04, 2013
LONDON (Business Wire) -- Ensco plc (NYSE: ESV) has taken delivery of ENSCO DS-7, an advanced-capability, ultra-deepwater drillship. The vessel will embark from the Samsung Heavy Industries shipyard in South Korea to Angola, where it is contracted to Total for three years beginning in the fourth quarter at an initial day rate in the mid $610,000s.
ENSCO DS-7 is the third Ensco rig contracted to Total and will be the fourth Ensco rig working in West Africa.
Chairman, President and Chief Executive Office Dan Rabun said, “The West Africa deepwater market continues to be an exciting exploration area and we are pleased to expand our presence in this region with our newest drillship.”
ENSCO DS-7 is the fifth of eight rigs in the Company's ultra-deepwater DP3 drillship series, which are equipped with advanced technological features for drilling and completing deepwater wells including DPS-3 certified dynamic positioning, six-ram 15,000 psi BOPs, enhanced off-line capability, 2.5 million-pound hook load on main rotary, 6,000-barrel active and 7,400-barrel reserve dual-fluid systems, 165 MT active heave subsea crane, significant storage and deck space, and accommodations for up to 200 persons.
The uniform design of the Company's DP3 drillship series streamlines construction, operations, inventory management, training, regulatory compliance, repairs and maintenance. It also provides flexibility for customer-specific enhancements: in particular, the drillships may be modified to drill and complete wells in water depths up to 12,000 feet.
“Standardization creates significant efficiency benefits and an uptime record that customers value highly when contracting new assets,” Mr. Rabun continued.
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. 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 drilling contract terms and provisions, anticipated drilling contract negotiations and finalization thereof, expected financial performance, day rates and backlog; 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 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 or suspension of drilling contracts as a result of mechanical difficulties, performance or other reasons; 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; and actual contract commencement dates. 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.
Sean O?Neill, 713-430-4607
Vice President - Investor Relations and Communications
Nick Georgas, 713-430-4490
Manager - Investor Relations
Alice Brink, 713-430-4658
Manager - Communications