Ensco in jackup sale

February 4, 2014

Ensco plc announced the sale of its two remaining cold-stacked jackup rigs for US$33 million. The net value of the two rigs, ENSCO 69 and Wisconsin, both built in 1976, was approximately $9 million. The pre-tax gain on the sale is approximately $24 million, which will be included in 1Q 2014 operating results.

The sale allows Ensco to upgrade its current fleet, said executive vice president and chief financial officer Jay Swent.

Ensco has sold 13 rigs over the last four years, and proceeds have been reinvested in the fleet. Over the same period, Ensco has taken delivery of 12 high-performance rigs, including five Samsung DP3 ultra-deepwater drillships, five ENSCO 8500 Series® ultra-deepwater semisubmersibles and two ENSCO 120 Series ultra-premium harsh environment jackups. In addition, Ensco has six rigs under construction – three ultra-deepwater drillships and three premium jackups.



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