Ensco sells jackup rig ENSCO 85 for $64 million

Source:Ensco plc

Ensco sells jackup rig ENSCO 85 for $64 million

Ensco plc (NYSE: ESV) today sold ENSCO 85, a jackup rig built in 1981, for $64 million. The net book value of the rig was approximately $54 million. The pre-tax gain on this sale was approximately $10 million, which will be included in second quarter 2014 operating results.

“Year to date, we have sold three jackup rigs and recently we ordered two ENSCO 140 Series jackups,” said Executive Vice President and Chief Financial Officer Jay Swent. “Continuous high-grading keeps us at the forefront of industry technology and we continue to have the largest premium jackup fleet in the world.”

Since the beginning of 2010, Ensco has sold 14 rigs generating pre-tax gains of approximately $90 million. During 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. Ensco has eight additional rigs under construction - five premium jackups and three ultra-deepwater drillships - that reinforce the Company’s commitment to standardization.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs