LONDON, Mar 19, 2010 (BUSINESS WIRE) -- Ensco International plc (NYSE: ESV) announced today that subsidiaries of
the Company have sold two jackup drilling rigs, ENSCO 50 and ENSCO 51.
Both are F&G L-780 MOD II-C designs built in the early 1980s. The
combined sale price for the two rigs is approximately $95 million. As of
December 31, 2009, the total net book value for ENSCO 50 and ENSCO 51
was approximately $63 million. Both rigs will be reclassified as
discontinued operations on Ensco's financial statements as of first
Chief Financial Officer Jay Swent commented, "We have a long history of
high-grading our fleet by investing in newer equipment and divesting
older assets. Monetizing ENSCO 50 and ENSCO 51 provides us added
flexibility to potentially acquire new premium jackups as we continue
investing in our growing fleet of ultra-deepwater semisubmersibles."
Ensco International (NYSE:ESV) brings energy to the world as a global
provider of offshore drilling services to the petroleum industry. With a
fleet of ultra-deepwater semisubmersible and premium jackup drilling
rigs, Ensco serves customers with high-quality equipment, a well-trained
workforce and a strong record of safety and reliability. To learn more
about Ensco, please visit our website at www.enscointernational.com.
Statements contained in this press release that state the Company's
or management's intentions, hopes, beliefs, expectations, anticipations,
projections, confidences, schedules, or predictions of the future are
forward-looking statements made pursuant to the Private Securities
Litigation Reform Act of 1995.Such forward-looking statements
include references to potential rig investments.
Numerous factors could cause actual press release, contractual and
financial results to differ materially from those contemplated in the
forward-looking statements, including: (i) industry conditions and
competition, (ii) prices of oil and natural gas, and their impact upon
future levels of drilling activity and expenditures, (iii)
renegotiation, nullification, early termination, cancellation or breach
of contracts or letters of intent, (iv) other risks as described from
time to time as Risk Factors and otherwise in the Company's SEC filings.
Copies of such SEC filings may be obtained at no charge by contacting
our Investor Relations Department at 214-397-3045 or by referring to the
Investor Relations section of our website at www.enscointernational.com.
The factors identified above are believed to be important factors
(but not necessarily all of the important factors) that could cause
actual results to differ materially from those expressed in any
forward-looking statement made by us. Other factors not discussed herein
could also have material adverse effects on us. All forward-looking
statements included in this press release are expressly qualified in
their entirety by the foregoing cautionary statements.
All information in this report is as of the date posted. The Company
undertakes no duty to update any forward-looking statement, to conform
the statement to actual results, reflect changes in the Company's
expectations or otherwise update any forward-looking statement (or its
associated cautionary language), whether as a result of new information
or future events.
SOURCE: Ensco International plc
Ensco International plc
Sean O'Neill, 214-397-3011
Vice President, Investor Relations