ENSCO PLC (NYSE:ESV) moves on to take delivery of ENSCO 120


Dallas, Texas 09/04/2013 (Financialstrend) – ENSCO PLC (NYSE:ESV) had moved on to take delivery of ENSCO 120, the first in the series of three ultra premium harsh environment jackup rigs. This rig, which proves to be the most capable of its class, had been contracted to work for Nexen in the North Sea. The contract based operations would commence by the fourth quarter of fiscal year 2013 and the day rate for the use of rig had been fixed at approximate level of $230,000 plus adjustments for other costs. The Chairman and Chief Executive Officer, Dan Rabun commented that the company had taken up high specification design of rigs and had further loaded it with features to make ENSCO 120 to be the most capable and efficient rig of its class.

He further noted that the combination of proprietary cantilever system of the rig and its deep well capabilities along with the skilled knowledge and experience of the crew members operating the rig would prove to be the best option for the customers. The company had assured that the second rig in the series, ENSCO 121 would be delivered for use by the fourth quarter and it had been contracted to work for  Wintershall in the North Sea.

ENSCO PLC (NYSE:ESV) presented loss in share prices on Tuesday to close at $54.47 per share which was a decrease of 1.96% over previous close. The intraday prices of the stock moved in the range of $53.91 to $56.22 per share and the 52 week prices are at low of $51.01 and high of $65.82 per share. The stock on Tuesday reported trading volume of 3.95 million shares and the average level is at 1.63 million shares per day. Presently the company has 233.58 million shares traded in the market with institutional ownership at 89%.

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