UK: Ensco plc Gets Possession of ENSCO 69 Jackup Rig

Ensco plc reported today that it is now in possession of ENSCO 69, a jackup drilling rig that was reclassified as discontinued operations in second quarter 2009.

As previously reported, Ensco terminated its contract for the rig with Petrosucre (a subsidiary of the Venezuela national oil company PDVSA) for non-payment in June 2009. Petrosucre advised that it would continue to operate the rig without Ensco’s consent.

Ensco personnel recently were granted access to ENSCO 69 and the rig has been moved to Trinidad from Venezuela.

Ensco continues to pursue related insurance claims, which the insurers have disputed, as disclosed in the Company’s second quarter 2010 SEC Form 10-Q. No ENSCO 69 related insurance receivables were recorded on the Company’s balance sheet as of June 30, 2010.

Ensco 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.  Ensco plc is an English limited company with its registered office and global headquarters located at 6 Chesterfield Gardens, London, W1J 5BQ.


Source: Ensco plc, August 26, 2010: