Ensco lands new jack-up and semi-sub work

ensco-101UK-based offshore drilling contractor Ensco has been awarded new work for its drilling rigs in the Netherlands and the U.S. Gulf of Mexico. 

The drilling contractor reported in its latest fleet status report on Tuesday that the 2000-built jack-up rig Ensco 101 was awarded a contract extension from Engie for work offshore Netherlands.

The extension is from late November 2016 until late September 2017. The rig’s dayrate is the mid $70s range.

Furthermore, Ensco was awarded a contract for the 2012-built semi-submersible rig Ensco 8505 from Deep Gulf Energy. The contract is from November 2016 through the completion of three wells, expected in mid-March 2017. The semi-sub will work in the U.S. Gulf of Mexico under an undisclosed dayrate.

In addition, the driller’s 1976-built jack-up rig Ensco 68 was contracted to Fieldwood in the Gulf of Mexico from early November 2016 until late December 2016. The dayrate is in the mid $50s range. Following the completion of this contract, the jack-up will work for Enven from January until late January 2017 with a low $60s dayrate.

Ensco also reported that the 1982-built jack-up rig Ensco 53 was sold for scrap value with a sale price in line with net book value of the rig.

In related news, the company on Tuesday announced the start of a private placement of $650 million aggregate principal amount of exchangeable senior notes due 2024 to be issued by Ensco Jersey Finance Limited, a company organized under the laws of Jersey and wholly owned subsidiary of Ensco.

The initial purchasers will have a 30-day option to purchase up to an additional $97.5 million aggregate principal amount of notes. Ensco plans to use the net proceeds from the offering to fund the cash portion of its existing exchange offers.

Offshore Energy Today Staff

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