EX-99 2 exhibit99form8kjul2009.htm EXHIBIT 99-1 EXHIBIT 99.1

ENSCO INTERNATIONAL INCORPORATED
Rig Contract Status Report
As of July 15, 2009
 

Statements contained in the Rig Contract Status Report and the related news release dated July 15, 2009, including information regarding the future status of ENSCO 69 in general, and the anticipated pursuit of insurance and legal claims related to ENSCO 69 in particular, and the Rig Status Report entries regarding the Company's estimated rig availability, contract duration, future rig rates and cost adjustments, customers or contract status (including letters of intent) are forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include references to insurance and legal claims, future rig rates, cost adjustments, utilization, rig enhancement projections, shipyard construction or work completion, and other contract or letter of intent commitments, including new rig commitments, the period of time and number of rigs that will be in a shipyard for repairs, maintenance, enhancement or construction, scheduled delivery dates for new rigs and scheduled commencement dates for new contracts and rig relocations. It is important to note that our 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) recoverability of insurance and legal claims, (ii) industry conditions and competition, including changes in rig supply and demand or new technology, (iii) risks associated with the current global economic crisis and its impact on capital markets and liquidity, (iv) prices of oil and natural gas in general and the recent decline in prices in particular and the impact of commodity prices upon future levels of drilling activity and expenditures, (v) changes in the timing of revenue recognition resulting from the deferral of revenues payable by our customers (which are recognized over the contract term upon commencement of drilling operations) for mobilization of our drilling rigs, time waiting on weather or time in shipyards, (vi) excess rig availability or supply resulting from delivery of new drilling rigs, (vii) heavy concentration of our rig fleet in premium jackups, (viii) cyclical nature of the industry, (ix) worldwide expenditures for oil and natural gas drilling, (x) operational risks, including hazards created by severe storms and hurricanes, (xi) risks associated with offshore rig operations or rig relocations in general and in foreign jurisdictions in particular, (xii) renegotiation, nullification or breach of contracts or letters of intent with customers or other parties, including failure to negotiate definitive contracts following announcements or receipt of letters of intent, (xiii) inability to collect receivables, including reimbursable cost adjustments (xiv) changes in the dates new contracts actually commence, (xv) changes in the dates our rigs will enter a shipyard, be delivered, return to service or enter service, (xvi) risks inherent to domestic and foreign shipyard rig construction, repair or enhancement, including risks associated with concentration of our ENSCO 8500 Series® rig construction contracts in a single foreign shipyard, unexpected delays in equipment delivery and engineering or design issues following shipyard delivery, (xvii) availability of transport vessels to relocate rigs, (xviii) environmental or other liabilities, risks or losses, whether related to hurricane damage, losses or liabilities (including wreckage or debris removal) in the Gulf of Mexico or otherwise, that may arise in the future and are not covered by insurance or indemnity in whole or in part, (xix) limited availability or high cost of insurance coverage for certain perils such as hurricanes in the Gulf of Mexico or associated removal of wreckage or debris, (xx) self-imposed or regulatory limitations on drilling locations in the Gulf of Mexico during hurricane season, (xxi) impact of current and future government laws and regulation affecting the oil and gas industry in general and our operations in particular, including taxation as well as repeal or modification of same, (xxii) governmental action and political and economic uncertainties, including expropriation, nationalization, confiscation or deprivation of our assets, (xxiii) terrorism or military action impacting our operations, assets or financial performance, (xxiv) our ability to attract and retain skilled personnel, (xxv) outcome of litigation, legal proceedings, investigations or claims, (xxvi) adverse changes in foreign currency exchange rates, including their impact on the fair value measurement of our derivative financial instruments, (xxvii) potential long-lived asset or goodwill impairments, (xxviii) potential reduction in fair value of our auction rate securities and (xxix) other risks as described from time to time as Risk Factors and otherwise in the Company's SEC filings. Copies of such SEC filings may be obtained at no charge by contacting our Investor Relations Department at 214-397-3045 or by referring to the Investor Relations section of our website at www.enscointernational.com. All information in this report and related news release is as of the date posted. The Company undertakes no duty to update any forward-looking statement, to conform the statement to actual results, or reflect changes in the Company's expectations.

Bolded rig names and underlined text signify changes in rig status from the previous month.
 
            Est. Avail/  
Segment   Water      Day Rate     Contract  
Region / Rig         Design (1)         Depth' (1)    Customer/Status     $US         Location        Change                Comments                 
                               
Deepwater

Australia
ENSCO 7500  Dynamically Positioned  8000  Chevron  Low 550s  Australia  Sep. 10  Mob rate of mid 360s deferred and amortized over contract. Plus cost adjustments and unpriced options. Assigned to ExxonMobil for an estimated 64-day well 

U.S. Gulf of Mexico
ENSCO 8500  Dynamically Positioned  8500  Eni/Anadarko  Mid 270s  Gulf of Mexico  Jun. 13  Plus lump sum payment of $20 million and reimbursable costs of $27 million amortized over contract and cost adjustments. Four 1-year same-rate options 
ENSCO 8501  Dynamically Positioned  8500  Mobilize/ sea trials/ outfitting     Gulf of Mexico  Oct. 09  Next commences operations for Nexen and Noble Energy mid Oct. 09 to 2Q13, mid 350s plus cost adjustments and unpriced options 
ENSCO 8502  Dynamically Positioned  8500  Under construction     Singapore  1Q10  Contracted in Gulf of Mexico to Nexen commencing late 2Q10 to 2Q12, low 470s plus cost adjustments. Contract can change to 3 or 4 year term at operator's election at the same day rate 
ENSCO 8503  Dynamically Positioned  8500  Under construction     Singapore  4Q10  Contracted in Gulf of Mexico to Cobalt commencing early 2011 for 2 years, mid 510s plus cost adjustments and unpriced option 

Under Construction - uncontracted
ENSCO 8504  Dynamically Positioned  8500  Under construction     Singapore  2H11    
ENSCO 8505  Dynamically Positioned  8500  Under construction     Singapore  1H12    
ENSCO 8506  Dynamically Positioned  8500  Under construction     Singapore  2H12    






(1)  ENSCO 8500 Series ® rigs are proprietary design, ultra-deepwater, dynamically positoned, semisubmersibles and may be modified for drilling in up to 10,000' water depths.

ENSCO INTERNATIONAL INCORPORATED
Rig Contract Status Report
As of July 15, 2009

Bolded rig names and underlined text signify changes in rig status from the previous month.
 
             Est. Avail/  
Segment   Water      Day Rate     Contract  
Region / Rig             Design             Depth'     Customer/Status     $US         Location        Change                Comments                 
                               
Asia & Pacific Rim

Middle East/India
ENSCO 50  F&G L-780 Mod II-C  300  Available     UAE       
ENSCO 53  F&G L-780 Mod II-C  300  BG  Low 100s  India  Feb. 10  Plus one 3-month same rate option and one 6-month unpriced option 
ENSCO 54  F&G L-780 Mod II-C  300  ADOC  Low 150s  UAE / Qatar  Nov. 10  Plus cost adjustments and unpriced option 
ENSCO 76  MLT Super 116-C  350  Saudi Aramco  Mid 120s  Saudi Arabia  Sep. 09  One 1-year option, high 130s 
ENSCO 84  MLT 82 SD-C  250  Maersk  Low 170s  Qatar  Nov. 09  Plus cost adjustments 
ENSCO 88  MLT 82 SD-C  250  Shipyard/ Ras Gas  Average Low 70s  Bahrain/ Qatar  Dec. 09  Average shipyard rate to Sep. 09, low 70s. Then return to operations, mid 80s. One 5-well option, high 90s and one 4-well option, mid 110s 
ENSCO 94  Hitachi 250-C  250  Ras Gas  Mid 60s  Qatar  May 12  Rate increases Jun. 10, high 60s. One 1-well option, mid 110s 
ENSCO 95  Hitachi 250-C  250  Saudi Aramco  Mid 80s  Saudi Arabia  Nov. 09  One 1-year option, mid 90s 
ENSCO 96  Hitachi 250-C  250  Available     Bahrain       
ENSCO 97  MLT 82 SD-C  250  Available     Bahrain       

Southeast Asia/Australia
ENSCO 51  F&G L-780 Mod II-C  300  Available     Thailand        
ENSCO 52  F&G L-780 Mod II-C  300  Petronas Carigali  Mid 160s  Malaysia  Nov. 10  Plus cost adjustments and unpriced options 
ENSCO 56  F&G L-780 Mod II-C  300  Available     Malaysia       
ENSCO 57  F&G L-780 Mod II-C  300  Petronas Carigali  Mid 160s  Malaysia  Jan. 10  Reduced cost adjustment. Unpriced options 
ENSCO 67  MLT 84-CE  400  Available     Malaysia       
ENSCO 104  KFELS MOD V-B  400  ConocoPhillips  Mid 210s  Australia  Jan. 10  Reduced cost adjustment (low 10s) effective from contract commencement late Mar. 09. Plus cost adjustments and seven 1-well unpriced options 
ENSCO 106  KFELS MOD V-B  400  Available     Malaysia       
ENSCO 107  KFELS MOD V-B  400  OMV  Mid 220s  New Zealand  Oct. 09  Options exercised starting late Jul. to Sep. 09, low 190s, then to early Oct. 09, mid 180s, then to late Oct. 09, low 190s and one 1-well unpriced option. Thereafter, Origin has two 1-well unpriced options and then OMV has five 1-well market priced options 
ENSCO 108  KFELS MOD V-B  400  Total  Mid 190s  Brunei  Jun. 10  Shipyard average day rate, low 150s, deferred and amortized over contract. Two 6-month options at market rate. Option exercise would result in a retroactive reduction in firm period rate to low 160s with options at market rate but floor in low 140s for first option period 
 
ENSCO I  Barge Rig     Cold stacked     Singapore       
 



Please read the forward-looking statement disclaimer at the top of the first page.


ENSCO INTERNATIONAL INCORPORATED
Rig Contract Status Report
As of July 15, 2009

Bolded rig names and underlined text signify changes in rig status from the previous month.
            Est. Avail/  
Segment   Water      Day Rate     Contract  
Region / Rig             Design             Depth'     Customer/Status     $US         Location        Change                Comments                 
                               
Europe & Africa
 
North Sea
ENSCO 70  Hitachi K1032N  250  Maersk  Mid 110s  Denmark  Aug. 09  On accommodation and six 1-week options, low 110s 
ENSCO 71  Hitachi K1032N  225  Maersk  Low 200s  Denmark  Aug. 09    
ENSCO 72  Hitachi K1025N  225  Available  -----------  UK  -----------  --------------------- 
ENSCO 80  MLT 116-CE  225  ConocoPhillips  Low 100s  UK  Dec. 12  In non-drilling support mode to Sep. 09 plus cost adjustments. Then contract to be suspended to Jan. 10 with expected sublet to Nov. 09, low 130s plus approximately 14 days accommodation mode, low 80s. Rates mutually agreed annually 
ENSCO 92  MLT 116-C  225  EIS Consortium*  Mid 210s  UK  Feb. 10  Plus cost adjustments. Options exercised, rate from Jan. 10, low 150s 
ENSCO 100  MLT 150-88-C  350  Shipyard     Poland  Oct. 09    
ENSCO 101  KFELS MOD V-A  400  Available  -----------  UK  -----------  --------------------- 
ENSCO 102  KFELS MOD V-A  400  ConocoPhillips  High 280s  UK  Dec. 11  Rate mid Aug. 09 to Jan. 10, low 200s plus cost adjustments. Thereafter rates to be negotiated 

Africa		                      
ENSCO 85  MLT 116-C  300  PA Resources  Mid 120s  Tunisia  Jul. 09    
ENSCO 105  KFELS MOD V-B  400  BG  Low 200s  Tunisia  May 10  Plus cost adjustments and unpriced option 

*EIS (East Irish Sea Consortium) - Venture, BHPB, HRL Centrica, EOG
                               
North & South America

U.S. Gulf of Mexico
ENSCO 60  Levingston 111-C  300  Cold stacked     Gulf of Mexico       
ENSCO 75  MLT Super 116-C  400  ANKOR  Low 100s  Gulf of Mexico  Jul. 09  Next to Apache to Aug. 09, low 110s 
ENSCO 82  MLT 116-C  300  Chevron  Mid 150s  Gulf of Mexico  Jan. 10    
ENSCO 83  MLT 82 SD-C  250  Shipyard     Gulf of Mexico  Aug. 09  Next to Pemex in Mexico commencing Sep. 09 to Nov. 12, low 110s plus cost adjustments 
ENSCO 86  MLT 82 SD-C  250  Available  --------  Gulf of Mexico  --------    
ENSCO 87  MLT 116-C  350  ExxonMobil  Low 80s  Gulf of Mexico  Jul. 09  Next to shipyard for approximately 30 days 
ENSCO 90  MLT 82 SD-C  250  Cold stacked     Gulf of Mexico       
ENSCO 99  MLT 82 SD-C  250  Available  --------  Gulf of Mexico  --------  --------------------- 
 
Mexico
ENSCO 81  MLT 116-C  350  Pemex  Low 100s  Mexico  Jun. 10  Indexed to global rates, adjusts late Dec. 09 
ENSCO 89  MLT 82 SD-C  250  Pemex  Mid 150s  Mexico  Mar. 12  Rates adjust to global index rate after initial 6 months (Aug. 09) and every 3 months thereafter 
ENSCO 93  MLT 82 SD-C  250  Pemex  Mid 160s  Mexico  Mar. 12  Rates adjust to global index rate after initial 6 months (Oct. 09) and every 3 months thereafter 
ENSCO 98  MLT 82 SD-C  250  Pemex  Low 110s  Mexico  Apr. 12  Plus cost adjustments 

Venezuela
ENSCO 68  MLT 84-CE  400  Chevron  Low 200s  Venezuela  Dec. 09  Chevron assigned contract to Repsol to Sep. 09 plus one same rate 1-well option. Then to MORUY II (Teikoku) to Dec. 09 
ENSCO 69  MLT 84-S  400  Discontinued Operations     Venezuela     (Note: See Ensco News Release dated July 15 relating to this Rig Contract Status Report. ENSCO 69 will not be reflected in future reports.)  
 



Please read the forward-looking statement disclaimer at the top of the first page.