DALLAS, Feb. 7 /PRNewswire-FirstCall/ -- ENSCO International Incorporated
(NYSE: ESV) announced today that one of its principal subsidiaries has
exercised its option to purchase the remaining non-owned 75% interest in ENSCO
106, an enhanced KFELS MOD V (B) design jackup rig built to ENSCO's
specifications. ENSCO 106 was constructed by Keppel FELS Limited ("KFELS"), a
subsidiary of which was ENSCO's 75% joint venture partner in the rig. Earlier
today, the Company took delivery of the rig and paid approximately $80 million
for the remaining 75% interest in ENSCO 106, for a total investment of
approximately $108 million (including the cost of ENSCO's initial 25%
ownership). In mid-March 2005, ENSCO 106 is expected to commence a one year
contract with Apache in Australia at an average rate of approximately $97,000
per day.
With the addition of the ENSCO 106 and the expected year-end 2005 delivery
of a sister rig now under construction, ENSCO 107, ENSCO's premium jackup
fleet will increase to 44 rigs, nine of which will be newly constructed ultra-
high specification rigs.
Statements contained in this news release that state Company or management
intentions, hopes, beliefs, anticipations, expectations or predictions of
future events are forward-looking statements. Such forward-looking statements
include references to expected delivery date of the ENSCO 107, and the
expected commencement, duration and average day rate of the ENSCO 106 drilling
contract. It is important to note that the Company's actual results could
differ materially from those projected in such forward-looking statements.
The factors that could cause actual results to differ materially from those in
the forward-looking statements include the following: (i) delay in the
anticipated delivery date of the ENSCO 107, (ii) delay in the anticipated
commencement date of the ENSCO 106 contract, (iii) rig construction risks,
(iv) risks associated with operating and shipbuilding in foreign
jurisdictions, (v) force majeure events, (vi) renegotiation, nullification, or
breach of contracts, and (vii) the risks described from time to time in the
Company's SEC filings. Copies of such filings may be obtained by contacting
the Company or the SEC.
The Company disclaims any obligation or undertaking to disseminate any
updates or revisions to any forward-looking statements to reflect any change
in Company or management expectations or any change in events, conditions or
circumstances on which any such statements are based.
ENSCO, headquartered in Dallas, Texas, owns and operates a modern fleet of
offshore drilling rigs servicing the petroleum industry on a global basis.
SOURCE ENSCO International Incorporated
 back to top
Related links:
http://www.enscous.com
CONTACT:
Richard LeBlanc of ENSCO International
Incorporated, +1-214-397-3011
|
