Press release from Business Wire
Ensco plc Takes Delivery of Newbuild Jackup Rig ENSCO 121
<p class='bwalignc'> Ultra-Premium Harsh Environment Rig Will Work in North Sea </p>
Monday, December 23, 2013
Ensco plc Takes Delivery of Newbuild Jackup Rig ENSCO 12109:00 EST Monday, December 23, 2013
LONDON (Business Wire) -- Ensco plc (NYSE: ESV) has taken delivery of ENSCO 121, the second of four ultra-premium harsh environment jackup rigs in its ENSCO 120 Series. The rig is contracted to work in the North Sea beginning in the second quarter of 2014 at a day rate of approximately $230,000.
Chairman, President and Chief Executive Officer Dan Rabun commented, “With our patented cantilever system and other proprietary design features, the ENSCO 120 Series rigs are the most efficient and capable rigs of their class. They are ideal for ultra-deep well programs in challenging shelf environments, and our customers who have now seen these rigs first-hand are impressed with how well the ENSCO 120 Series responds to their needs.”
ENSCO 121 was constructed at the Keppel FELS yard in Singapore and will shortly be en route to Rotterdam for final load out and crew familiarization.
ENSCO 120, the first rig in the series, is under contract in the North Sea. ENSCO 122 will be delivered in the third quarter of 2014 and is contracted for North Sea work as well. In November, based on strong customer demand, Ensco ordered ENSCO 123, the fourth rig in the series, for delivery in the second quarter of 2016.
These new jackup rigs are enhanced versions of the KFELS Super A design. Capable of operating in water depths up to 400 feet, ENSCO 120 Series rigs are designed for the most demanding large multi-well platform programs, ultra-deep gas programs or ultra-long reach wells up to 40,000-ft. total drilling depth. The industry-leading design features of the rigs significantly increase the area of operability in the North Sea and other harsh environment regions.
The rigs have a significantly improved cantilever envelope, 18-3/4-inch 15k 4-ram BOP, 2.5 million-pound quad derrick, enhanced rig floor layout, fully automated hands-free offline pipe handling systems, ultra-high capacity jacking and fixation systems, 150-person quarters and strict noise and ergonomic standards. These features previously were found only in the largest ultra-harsh environment jackup rigs.
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 going beyond customer expectations. Ensco is ranked first in total customer satisfaction with top honors in 10 of 16 categories in the latest annual survey by EnergyPoint Research. 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. In terms of dividend yield, Ensco is among the top dividend payers of S&P 500 Companies. 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; 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 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; 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; 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