Ensco plc Takes Delivery of Newbuild Jackup Rig ENSCO 120
Most Capable Rig of Its Class - Keppel FELS Super A Design
LONDON--(BUSINESS WIRE)-- Ensco plc (NYS: ESV) has taken delivery of ENSCO 120, the first in its series of three ultra-premium harsh environment jackup rigs. The rig is contracted to work for Nexen in the North Sea beginning in the fourth quarter at a day rate of approximately $230,000 plus cost adjustments.
Ensco has taken delivery of the newbuild rig ENSCO 120, contracted to work in the North Sea. In jackup trials, the rig was raised to 539 feet, setting a new record for the Keppel FELS shipyard in Singapore. (Photo: Business Wire)
Chairman, President and Chief Executive Officer Dan Rabun commented, "With the ENSCO 120 Series, we have taken a high-specification rig design and enhanced it with features that make it the most capable rig of its class. The proprietary cantilever system and deep well capabilities of ENSCO 120, paired with our skilled crews' knowledge and experience in the region, are a winning combination for our customers."
ENSCO 120 was constructed at the Keppel FELS yard in Singapore and is now en route to the North Sea for final outfitting and crew familiarization. In jackup trials, the rig set a new shipyard record when it was jacked up successfully to 539 feet on its 540-foot legs. The rig also successfully hoisted a 2.5-million-pound hook load at its full cantilever extension.
ENSCO 121, the second rig in the series, is scheduled for delivery in the fourth quarter. It is contracted to work for Wintershall, also in the North Sea.
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 Central 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 (NYS: 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 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 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 atwww.sec.govor on the Investor Relations section of our website atwww.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.
Photos/Multimedia Gallery Available:http://www.businesswire.com/multimedia/home/20130903006034/en/
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
KEYWORDS: United Kingdom Europe
The article Ensco plc Takes Delivery of Newbuild Jackup Rig ENSCO 120 originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.