DALLAS, March 28 /PRNewswire-FirstCall/ -- ENSCO International
Incorporated (NYSE: ESV) announced the schedule for its first quarter 2003
earnings press release and conference call and the updating of its guidance
for first quarter earnings.
The earnings press release for first quarter of 2003 will be issued before
the stock market opens on Wednesday, April 16, 2003, and the conference call
will be the same day at 10:00 a.m. Central Time. The conference call will be
broadcast live over the Internet at http://www.enscous.com . Interested parties may
also listen to the call by dialing 952-556-2802, and it is recommended that
participants call five to ten minutes before the scheduled start time. A
replay of the conference call will be available after the call for
approximately 10 days on ENSCO's web site http://www.enscous.com , or by phone for
24 hours by dialing 703-326-3020 (pass code 6410857).
The Company expects that its first quarter 2003 earnings per share will be
at, or slightly below, the lower end of the $.16 to $.21 guidance range given
in January 2003. This is primarily due to weaker than expected results from
the Company's Gulf of Mexico jackup and marine transportation operations, and
an increase in general and administrative expenses related to one-time
severance costs payable under a contract assumed with the Company's
August 2002 acquisition of Chiles Offshore Inc.
Carl Thorne, Chairman and Chief Executive Officer of ENSCO, commented on
the current outlook, "Although the Gulf of Mexico market has been softer than
anticipated in the first quarter of this year, we now have all of our
currently available Gulf of Mexico jackup rigs committed. Given this year's
initial sluggishness in the Gulf of Mexico and anticipated near term softness
in the North Sea, we expect that any meaningful improvement in our results
would likely be deferred until the second half of the year."
Statements contained in this press release that state the Company's or
management's intentions, hopes, beliefs, expectations or predictions of the
future are forward-looking statements. Such forward-looking statements
include references to shipyard downtime, market conditions in the Gulf of
Mexico and the North Sea, and our expectation of first quarter 2003 and future
earnings. 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) industry conditions
and competition, (ii) cyclical nature of the industry, (iii) worldwide
expenditures for oil and gas drilling, (iv) operational risks and insurance,
(v) risks associated with operating in foreign jurisdictions, (vi)
environmental liabilities which may arise in the future which are not covered
by insurance or indemnity, (vii) the impact of current and future laws and
government regulation, as well as repeal or modification of same, affecting
the oil and gas industry and the Company's operations in particular, (viii)
changes in the dates the Company's rigs undergoing enhancement will enter
service, (ix) renegotiation, nullification, or breach of contracts with
customers or other parties, (x) political and economic uncertainty in
Venezuela, and (xi) 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, provides contract drilling and
marine transportation services to the international petroleum industry.
SOURCE ENSCO International Incorporated
 back to top
Related links:
http://www.enscous.com
CONTACT:
Richard LeBlanc of ENSCO International
Incorporated, +1-214-397-3011
|
