Ensco Wins Three Drillship Contracts

Ensco said Tuesday that it has won three drillship contracts offshore West Africa, representing an aggregate three years of contracted term and more than six additional years of options. “Our recent contract awards demonstrate our ability to win work for preservation stacked rigs and newbuilds ahead of the competition,” CEO Carl Trowell said in a statement.

ENSCO DS-4 is expected to start a two-year contract with Chevron (CVX) offshore Nigeria in August 2017. The contract also includes a priced customer option for one additional year of work. ENSCO DS-10 will start work with Shell (RDS.A) offshore Nigeria in Q1. The contract duration is for one year and includes five one-year priced customer options. As a result of winning this contract, the rig’s delivery is expected to be accelerated into Q3 from Q1 2019. ENSCO DS-7 is contracted to Total (TOT) until November. Since last November, the rig has been idle in Tenerife earning a standby rate following early termination of its original contract for customer convenience. ENSCO DS-7 is now scheduled to mobilize to Ivory Coast to drill one well beginning in August 2017 that is expected to take 60 days to complete.

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