EX-99.1 2 ex99_1.htm EXHIBIT 99.1 ex99_1.htm

EXHIBIT 99.1
 
 
 
 

 
 
logo
Ensco plc
Fleet Status Report
17 May 2012
 
 
Monthly Changes
 
Bolded rig names and underlined text signify changes in rig status from previous report.
 
Segment / 
Region / Rig
    
Design
  Water
Depth' (1)
  Customer/
Status
  Day Rate
$000′s US
  Location   Est. Avail /
Contract Change
Comments
                           
Deepwater
                         
                           
North & South America (excluding Brazil)
         
ENSCO DS-5
 
Drillship, DP3 Samsung
10000/12000
 
Petrobras
 
Mid 430s
 
U.S. Gulf of Mexico
Jul. 16
-----. Eligible for bonus opportunity up to 17%, plus cost adjustments
ENSCO 8500
 
Semisubmersible DP
8500/10000
 
Anadarko/Eni
 
High 290s
 
U.S. Gulf of Mexico
Aug. 13
-----. Plus approx. $31,000 per day for lump sum payment of $20 million and one-time reimbursable costs of $27 million amortized over primary contract term.  Plus cost adjustments and four 1-year same-rate options
ENSCO 8501
 
Semisubmersible DP
8500/10000
 
Nexen/Noble Energy
High 370s
 
U.S. Gulf of Mexico
Jul. 13
-----. Currently executing Noble's drilling program. Plus approx. $19,000 per day for mobilization expenses and upgrade costs amortized over primary contract term. Plus cost adjustments and unpriced options
ENSCO 8502
 
Semisubmersible DP
8500/10000
 
Nexen/Apache
 
Mid 490s
 
U.S. Gulf of Mexico
Jul. 13
Sublet to Apache May 12 for 60 to 220 days at same rate. Plus approx. $35,000 per day for reimbursable mobilization expenses and upgrade costs amortized over 2-year contract term. Plus cost adjustments
ENSCO 8503
 
Semisubmersible DP
8500/10000
 
Cobalt
 
Mid 540s
 
U.S. Gulf of Mexico
Dec. 13
Plus approx. $54,000 per day for reimbursable mobilization expenses and upgrade costs amortized over 2-year contract term
ENSCO 8505
 
Semisubmersible DP
8500/10000
 
Acceptance
Testing/Contracted
U.S. Gulf of Mexico
Jun. 14
Contracted to Anadarko/Apache/Noble Energy for longer of two years or two rotations each, mid 470s, with estimated commencement in late 2Q12. Plus two 1-year unpriced options
Brazil
                         
ENSCO DS-4
 
Drillship, DP3 Samsung
10000/12000
 
BP
 
Low 550s
 
Brazil
 
May 16
Plus cost adjustments
ENSCO 7500
 
Semisubmersible DP
 
8000
 
Petrobras
 
Low 320s
 
Brazil
 
Aug. 14
Eligible for bonus opportunity up to 5%. Plus approx. $20,000 per day for mobilization revenue and expenses amortized over primary contract term. Plus cost adjustments
ENSCO 6001
 
Semisubmersible - DP Amethyst 2
5700
 
Petrobras
 
Mid 270s
 
Brazil
 
Jun. 13
Eligible for bonus opportunity up to 15%, plus cost adjustments
ENSCO 6002
 
Semisubmersible - DP Amethyst 2
5700
 
Petrobras
 
Mid 270s
 
Brazil
 
Jul. 13
Eligible for bonus opportunity up to 15%, plus cost adjustments
ENSCO 6003
 
Semisubmersible - DP Amethyst 2
5700
 
Petrobras
 
Mid 310s
 
Brazil
 
Jan. 17
Eligible for bonus opportunity up to 15%, plus cost adjustments
ENSCO 6004
 
Semisubmersible - DP Amethyst 2
5700
 
Petrobras
 
Mid 310s
 
Brazil
 
Oct. 16
Eligible for bonus opportunity up to 15%, plus cost adjustments
Europe & Mediterranean
                     
ENSCO 5006
 
Semisubmersible - Conv Bingo 8,000
6200/7500
 
Noble Energy
 
Mid 280s
 
Israel
 
Dec .13
Planned shipyard inspection 3Q12 for approx. 14 days at zero rate. Rate increases Dec. 12 to mid 410s
                           
Middle East & Africa
                     
ENSCO DS-1
 
Drillship - DP Gusto 10,000
6000/10000
 
TOTAL
 
Low 310s
 
Angola
 
Jan. 16
Rate increases Jun. 12 to low 350s. Planned shipyard upgrade and inspection 3Q12 for approx. 80 days at zero rate. Plus options and cost adjustments. Eligible for bonus opportunity up to 5%
ENSCO DS-2
 
Drillship - DP Gusto 10,000
6000/10000
 
TOTAL
 
Mid 460s
 
Angola
 
Jul. 13
Eligible for bonus opportunity up to 5%, plus cost adjustments
ENSCO DS-3
 
Drillship, DP3 Samsung
10000/12000
 
BP/Petrobras
 
Low 520s
 
Angola
 
Jun. 16
-----. Sublet to Petrobras to Jul. 12. Plus approx $35,000 per day for reimbursable mobilization expenses amortized through Jun. 12. Next return to BP in US GOM, high 480s. Plus cost adjustments
ENSCO 5001
 
Semisubmersible - Conv Sonat
5000/6500
 
Maersk
 
Mid 270s
 
Angola
 
Sep. 12
Next to PetroSA in South Africa to Sep. 14, mid 270s. Plus two 1-well options, low 320s
 
 
Page 1 of 6

 
 
logo
Ensco plc
Fleet Status Report
17 May 2012
 
 
Segment / 
Region / Rig
    
Design
  Water
Depth' (1)
  Customer/
Status
  Day Rate
$000′s US
  Location   Est. Avail /
Contract Change
Comments
                           
Deepwater
                         
                           
Asia & Pacific Rim
                   
ENSCO DS-6
 
Drillship, DP3 Samsung
10000/12000
 
Contracted / Shipyard
 
 
 
Singapore 
 
4Q12
In shipyard undergoing reimbursable customer specified upgrades at special day rate. Next to commence 5-year contract in late 4Q12, low 520s, plus cost adjustments. Plus two 1-year options at mutually agreed rates. Special day rate, upgrade costs and mobilization to be amortized over primary contract term.
ENSCO 8504
 
Semisubmersible DP
8500/10000
 
TOTAL/Shell
Mid 420s
 
Brunei
 
Jan. 13
Next sublet to Shell Jun. 12 to Jan. 13, mid 420s. TOTAL has  ------ options at escalating rates. ------
                         
Under Construction
                   
ENSCO DS-7
 
Drillship, DP3 Samsung
10000/12000
 
Under construction 
 
South Korea
 
2H13
 
ENSCO DS-8
 
Drillship, DP3 Samsung
10000/12000
 
Under construction 
 
South Korea
 
3Q14
 
ENSCO 8506
 
Semisubmersible DP
8500/10000
 
Under construction/          
Contracted
Singapore 
 
3Q12
Contracted to Anadarko in US GOM Dec. 12 to Jun. 15, low 530s plus cost adjustments
 
(1) For rigs that may be modified to drill in deeper water depths, both the currently outfitted and maximum upgrade capabilities are shown.
 
 
Page 2 of 6

 
 
logo
Ensco plc
Fleet Status Report
17 May 2012
 
 
Segment /
Region / Rig
  Design   Water
Depth' (1)
  Customer/
Status
  Day Rate
$000′s US
 
Location
  Est. Avail /
Contract Change
Comments
                           
Midwater
                         
                           
Brazil
                         
ENSCO 5000
 
Semisubmersible - Conv Neptune Pentagon
2300/2650
 
Petrobras
 
High 230s
 
Brazil
 
Jul. 13
Eligible for bonus opportunity up to 15%, plus cost adjustments
ENSCO 5002
 
Semisubmersible - Conv Aker H-3
1000
 
OGX
 
Low 200s
 
Brazil
 
Nov. 13
-----. Rate increases mid Nov. 12 to low 220s
ENSCO 5004
 
Semisubmersible - Conv  F & G Enhanced Pacesetter
1500
 
OGX
 
Low 220s
 
Brazil
 
Nov. 13
Rate increases mid Nov. 12 to mid 230s
ENSCO 5005
 
Semisubmersible - Conv  F & G Enhanced Pacesetter
1500/1700
 
Petrobras
 
Mid 230s
 
Brazil
 
Apr. 13
Planned shipyard stay 4Q12 for approx. 110 days. Eligible for bonus opportunity up to 10%, plus cost adjustments
ENSCO 6000
 
Semisubmersible - DP Amethyst
3400/4000
 
Petrobras
 
Low 200s
 
Brazil
 
Apr. 13
Planned shipyard inspection Jun. 12 for approx. 15 days at zero rate. Currently outfitted for workover activity. Eligible for bonus opportunity up to 18%, plus cost adjustments
                           
Middle East & Africa
                     
ENSCO 5003
 
Semisubmersible - Conv Aker H-3
1000
 
Warm Stacked
     
Namibia
     
 
(1) For rigs that may be modified to drill in deeper water depths, both the currently outfitted and maximum upgrade capabilities are shown.
 
 
Page 3 of 6

 
 
logo
Ensco plc
Fleet Status Report
17 May 2012
 
 
Segment /
Region / Rig
  Design   Water
Depth'
  Customer/
Status
  Day Rate
$000′s US
  Location   Est. Avail /
Contract Change
Comments
                           
Jackups
                         
                           
North & South America (excluding Brazil)
     
                           
U.S. Gulf of Mexico
                     
ENSCO 59
 
F&G
 
300
 
Cold stacked
     
Gulf of Mexico
 
ENSCO 68
 
MLT 84-CE
  
400
 
Chevron
 
Mid 110s
 
Gulf of Mexico
Jul. 12
Day rate does not include certain extra reimbursable costs
ENSCO 69
 
MLT 84-Slot
 
300
 
Cold stacked
 
   
 
Gulf of Mexico
 
ENSCO 75
 
MLT Super 116-C 
  
400 
 
Apache 
 
Low 130s
Gulf of Mexico 
Jan. 13
Plus cost adjustments
ENSCO 81
 
MLT 116-C 
 
350 
 
Dynamic
 
Low 90s
 
Gulf of Mexico
Apr. 13
-----. Plus unpriced options
ENSCO 82
 
MLT 116-C 
  
300
 
Chevron 
 
Mid 80s
 
Gulf of Mexico 
Jul. 12
Day rate does not include certain extra reimbursable costs
ENSCO 86
 
MLT 82 SD-C
  
250
 
Apache
 
Mid 60s
 
Gulf of Mexico
Jul. 12
Next to Stone to Sep. 12, mid 80s
ENSCO 87
 
MLT 116-C
  
350
 
Apache
 
Low 110s
Gulf of Mexico
Jul. 12
 
ENSCO 90
 
MLT 82 SD-C 
 
250 
 
Energy XXI
 
Mid 60s
 
Gulf of Mexico 
Jun. 12
 
ENSCO 99
 
MLT 82 SD-C
  
250
 
Energy XXI
 
Mid 70s
 
Gulf of Mexico 
Jan. 13
 
Pride Wisconsin
MLT-Slot
 
300
 
Cold stacked
     
Gulf of Mexico
 
                         
 
Mexico
                         
ENSCO 83
 
MLT 82 SD-C
 
250
 
Pemex
 
Low 110s
Mexico
 
Nov. 12
Planned shipyard inspection 3Q12 for approx 21 days at zero rate. Plus cost adjustments
ENSCO 89
 
MLT 82 SD-C
 
250
 
Pemex
 
Mid 80s
 
Mexico
 
Oct. 12
Planned shipyard inspection 4Q12 for approx 21 days at zero rate
ENSCO 93
 
MLT 82 SD-C
 
250
 
Pemex
 
Mid 80s
 
Mexico
 
Oct. 12
Planned shipyard inspection 4Q12 for approx 28 days at zero rate
ENSCO 98
 
MLT 82 SD-C
 
250
 
Pemex
 
Mid 80s
 
Mexico
 
Nov. 12
Planned shipyard inspection 4Q12 for approx 21 days at zero rate. Plus cost adjustments
                           
Europe
                         
                           
North Sea
                         
ENSCO 70
 
Hitachi K1032N
250
 
RWE Dea
 
High 80s
 
UK
 
Mar. 13
-----. Plus five 1-well unpriced options
ENSCO 71
 
Hitachi K1032N
225
 
Maersk
 
Low 110s
Denmark
 
Jul. 13
Next planned shipyard for upgrade ------ for approx. 80 days at zero rate. Plus two 1-year options at escalating day rates
ENSCO 72
 
Hitachi K1025N
225
 
Maersk
 
High 80s
 
Denmark
 
Aug. 13
Planned shipyard inspection 3Q12 for approx. 33 days at zero rate. Rate increases Aug. 12 to low 110s. Plus two 1-year options at escalating day rates
ENSCO 80
 
MLT 116-CE
 
225
 
Dana
 
Low 100s
UK
 
Jun. 12
Next to Perenco to Dec. 12, mid 90s. Then to EOG to Oct. 13, high 90s. Rate increases Jul. 13 to low 130s and Aug. 13 to high 130s. Then to GDF to Oct. 14, high 130s. Plus cost adjustments and options
ENSCO 92
 
MLT 116-C
 
225
 
RWE Dea
 
High 80s
 
UK
 
Oct. 12
Plus three 1-well unpriced options. Next to Tullow to Mar. 13, low 130s. Rate increases Jan. 13 to mid 140s. Then to Bridge to Jul. 13, mid 140s
ENSCO 100
 
MLT 150-88-C
 
350
 
E.ON
 
High 150s
UK
 
Dec. 12
Planned shipyard inspection late 4Q12 for approx. 21 days at zero rate. Next to Ithaca to Apr. 14, low 160s. Plus three 1-well options
ENSCO 101
 
KFELS MOD V-A
400
 
Maersk
 
Low 200s
UK
 
Aug. 12
Plus cost adjustments. Planned shipyard inspection mid 3Q12 for approx. 25 days at zero rate. Next to Tullow to Jan. 13, mid 210s
ENSCO 102
 
KFELS MOD V-A
400
 
ConocoPhillips
 
Low 200s
UK
 
Jun. 16
Planned shipyard inspection mid 3Q12 for approx. 25 days at zero rate. Rate firm for 8 wells (est. 3 years) thereafter at mutually agreed rate. Plus unpriced options
 
 
Page 4 of 6

 
 
logo
Ensco plc
Fleet Status Report
17 May 2012
 
 
Segment /
Region / Rig
  Design   Water
Depth'
  Customer/
Status
  Day Rate
$000′s US
  Location   Est. Avail /
Contract Change
Comments
                           
Jackups
                         
                           
Middle East & Africa
                     
                           
Middle East
                         
ENSCO 54
 
F&G L-780 Mod II-C
300
 
Bunduq
 
High 60s
 
UAE
 
Mar. 13
Plus cost adjustments ------. Rate increases Jun. 12 to mid 90s. Planned shipyard upgrade starting Aug. 12 for approx. 45 days with day rate of low 70s for 10 days while in shipyard
ENSCO 58
 
F&G L-780 Mod II
250
 
Saudi Aramco
 
Mid 60s
 
Saudi Arabia
Dec. 13
Plus one 1-year same rate option
ENSCO 76
 
MLT Super 116-C
350
 
Saudi Aramco
 
Low 100s
Saudi Arabia
Jun. 14
Plus one 1-year option, high 150s
ENSCO 84
 
MLT 82 SD-C
 
250
 
Saudi Aramco
 
Low 60s
 
Saudi Arabia
Nov. 14
Planned shipyard upgrade Jun. 12 for approx. 80 days at zero rate. Plus one 1-year option, mid 70s
ENSCO 88
 
MLT 82 SD-C
 
250
 
Ras Gas
 
Mid 60s
 
Qatar
 
May 13
Rate increases Jan. 13 to low 80s. Next planned shipyard upgrade and mobilization May 13 for approx. 90 days at zero rate. Then to Saudi Aramco to Aug. 16, low 100s
ENSCO 91
 
Hitachi
 
270
 
Shipyard/                  
Saudi Aramco
Saudi Arabia
Aug. 14
In shipyard for planned upgrade for approx. 90 days at zero rate. Then returns to Saudi Aramco, high 60s. Plus one 1-year option, mid 90s
ENSCO 94
 
Hitachi 250-C
 
250
 
Ras Gas
 
Mid 60s
 
Qatar
 
Dec. 12
Next planned shipyard upgrade and mobilization Dec. 12 for approx. 90 days at zero rate. Then to Saudi Aramco to Mar. 16, low 100s
ENSCO 96
 
Hitachi 250-C
 
250
 
Saudi Aramco
 
Low 60s
 
Saudi Arabia
Nov. 14
Planned shipyard upgrade Jun. 12 for approx. 80 days at zero rate. Plus one 1-year option, mid 70s
ENSCO 97
 
MLT 82 SD-C
 
250
 
Saudi Aramco
 
Low 60s
 
Saudi Arabia
Nov. 14
Planned shipyard upgrade Jul. 12 for approx. 80 days at zero rate. Plus one 1-year option, mid 70s
Pride Hawaii
 
Levingston
 
300
 
Cold stacked
     
Bahrain
     
Pride Pennsylvania
MLT
 
300
 
Cold stacked
     
Bahrain
     
                           
Africa
                         
ENSCO 61
 
Levingston
 
300
 
Cold Stacked
     
Cameroon
     
                           
Asia & Pacific Rim
                     
                           
Southeast Asia / Australia
                     
ENSCO 52
 
F&G L-780 Mod II-C
300
 
Murphy
 
High 70s
 
Malaysia
 
Apr. 14
----- Shipyard inspection 2Q12 for approx. 19 days, mid 40s. -----. Plus cost adjustments and one 1-year unpriced option. Planned shipyard upgrade 1Q13 for approx. 60 days at zero rate
ENSCO 53
 
F&G L-780 Mod II-C
300
 
Salamander
 
Low 100s
Thailand
 
Jul. 12
-----. Next to BC Petroleum to Jan. 13, low 100s. Plus cost adjustments
ENSCO 56
 
F&G L-780 Mod II-C
300
 
Pertamina
 
Mid 70s
 
Indonesia
 
Apr. 13
Plus one 6-month unpriced option. Planned shipyard time Q213 for approx. 55 days at zero rate
ENSCO 67
 
MLT 84-CE
 
400
 
Pertamina
 
Low 100s
Indonesia
 
Jan. 13
Plus one 8-month unpriced option
ENSCO 85
 
MLT 116-C 
 
300
 
Shipyard/ Contracted
 
Singapore
 
May 12
Next to Pearl Oil in Thailand late May 12 to Dec. 12, mid 110s. Plus cost adjustments
ENSCO 104
 
KFELS MOD V-B
400
 
Apache
 
High 170s
Australia
 
May 13
-----. Plus cost adjustments. Plus approx. $18,000 per day for upgrade cost amortized Mar. 12 through Apr. 12
ENSCO 105
 
KFELS MOD V-B
400
 
Talisman
 
Mid 120s
 
Malaysia
 
Aug. 12
Planned shipyard time Aug. 12 for approx. 14 days at zero rate. Two 1-year unpriced options. Plus approx. $6,000 per day for upgrade costs amortized over primary contract term
ENSCO 106
 
KFELS MOD V-B
400
 
Newfield
 
Mid 120s
 
Malaysia
 
Oct. 12
Plus cost adjustments. Plus approx. $4,000 per day for upgrade costs amortized over remaining contract term. Plus 1-year unpriced option. Expect to work to Oct. 13, high 130s
ENSCO 107
 
KFELS MOD V-B
400
 
Premier Oil
 
Low 120s
Vietnam
 
Jul. 12
Rate fluctuates depending on well, average 2Q12 rate is low 120s. Plus three 1-well unpriced options
ENSCO 108
 
KFELS MOD V-B
400
 
PTTEP
 
Mid 130s
 
Thailand
 
Apr. 14
Zero rate for 6 days in 2Q12. Plus approx. $2,000 per day for upgrade costs amortized over primary contract term
ENSCO 109
 
KFELS MOD V-Super B
350
 
PTTEP
 
Mid 170s
 
Australia
 
Jul. 12
Next to ENI/Murphy/Vermillion/Santos for work to Feb. 13, mid 170s. Plus one 1-well option at same rate
                           
Under Construction
                     
ENSCO 120
 
KFELS Super A
400
 
Under construction/ contracted
   
Singapore
 
2Q13
Contracted to Nexen in the UK from 4Q13 to Mar. 15, low 230s.  Plus cost adjustments and eleven 1-well options, mid 250s.  Mob fee of $7.5 million to be amortized over primary contract term
ENSCO 121
 
KFELS Super A
400
 
Under construction
   
Singapore
 
4Q13
 
ENSCO 122
 
KFELS Super A
400
 
Under construction
   
Singapore
 
3Q14
 
 
 
Page 5 of 6

 
 
logo
Ensco plc
Fleet Status Report
17 May 2012
 
 
Rig   Design   Water
Depth'
  Customer/
Status
  Day Rate
$000′s US
  Location   Est. Avail /
Contract Change
Comments
                           
Other
                         
                           
Deepwater Drilling Management
                 
Kizomba
 
Deepwater TLP Drilling Rig
5000
 
ExxonMobil
 
Mid 80s
 
Angola
 
Apr. 15
Rate decreases Jun. 12 to Mar. 13, mid 40s for reduced crew, then resume mid 80s
                     
Thunderhorse
Deepwater Semisubmersible
6000
 
BP
 
Mid 80s
 
U.S. Gulf of Mexico
Jan. 13
Plus four 1-year priced options, plus cost adjustments
                     
Mad Dog
 
Deepwater Spar Drilling Rig
4500
 
BP
 
Low 60s
 
U.S. Gulf of Mexico
Jan. 15
Plus one 1-year priced option, plus cost adjustments
                           
Barge Rig
                         
ENSCO I
 
Barge Rig
     
Cold stacked 
 
Singapore 
 
 
Definitions and Disclaimers
 
Day Rate Definition. The day rates reflected in this Fleet Status Report are the operating day rates charged to customers, which may include estimated contractual adjustments for changes in operating costs and/or reimbursable cost adjustments for ongoing expenses such as crew, catering, insurance and taxes. The day rates, however, do not include certain types of non-recurring revenues such as lump sum mobilization payments, revenues earned during mobilizations, revenues associated with contract preparation and other non-recurring reimbursable items such as mobilizations and capital enhancements, and the impact of the fair market value adjustments to Pride’s drilling contracts in place on the 31 May 2011 acquisition date.  Routine and non-routine downtime may reduce the actual revenues recognized during the contract term.  Additionally, the Company occasionally negotiates special rates with customers as noted in the comments that reduce revenues recognized during the contract term.
 
Rig Names.  We are in the process of completing name changes on some of our rigs, some of which may not be completed for some time.  For the purpose of our Fleet Status Report, we are using the new names even when the name change has not been completed.  Below is a legend showing the name changes.
 
Legend of rig names changing
 
ENSCO DS-1
 
Pride Africa
 
ENSCO 6000
 
Pride South America
 
ENSCO 5002
 
Pride Sea Explorer
 
ENSCO 61
 
Pride Cabinda
ENSCO DS-2
 
Pride Angola
 
ENSCO 6001
 
Pride Carlos Walter
 
ENSCO 5003
 
Pride South Seas
 
ENSCO 91
 
Pride Montana
ENSCO DS-3
 
Deep Ocean Ascension
 
ENSCO 6002
 
Pride Brazil
 
ENSCO 5004
 
Pride Venezuela
 
Pride Hawaii
 
Pride Hawaii
ENSCO DS-4
 
Deep Ocean Clarion
 
ENSCO 6003
 
Pride Rio de Janeiro
 
ENSCO 5005
 
Pride South Atlantic
 
Pride Pennsylvania
 
Pride Pennsylvania
ENSCO DS-5
 
Deep Ocean Mendocino
 
ENSCO 6004
 
Pride Portland
 
ENSCO 5006
 
Pride North America
 
Pride Wisconsin
 
Pride Wisconsin
ENSCO DS-6
 
Deep Ocean Molokai
 
ENSCO 5000
 
Pride Mexico
 
ENSCO 58
 
Pride North Dakota
       
ENSCO DS-7
 
Deep Ocean Marquesas
 
ENSCO 5001
 
Pride South Pacific
 
ENSCO 59
 
Pride Tennesse
       
 
Forward Looking Statement. Statements contained in this Fleet Status Report that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include words or phrases such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,” “could,” “may,” “might,” “should,” “will” and similar words and specifically include statements involving future rig day rates; cost adjustments; utilization; estimated rig availability; contract duration, status, terms and other contract commitments; customers; rig enhancement projects; new rig commitments; the expected period of time and number of rigs that will be in a shipyard for repairs, maintenance, enhancement or construction; and scheduled delivery dates for new rigs. Such statements are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including governmental regulatory, legislative and permitting requirements affecting drilling operations; changes in worldwide rig supply and demand, competition and technology; future levels of offshore drilling activity; downtime and other risks associated with offshore rig operations, relocations, severe weather or hurricanes; possible cancellation or suspension of drilling contracts as a result of mechanical difficulties, performance or other reasons; risks inherent to shipyard rig construction, repair, maintenance or enhancement; actual contract commencement dates; environmental or other liabilities, risks or losses; our ability to attract and retain skilled personnel on commercially reasonable terms; governmental action, civil unrest and political and economic uncertainties; terrorism, piracy and military action; and the outcome of litigation, legal proceedings, investigations or other claims or contract disputes.  In addition to the numerous factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, which is available on the SEC’s website at www.sec.gov or on the Investor Relations section of our website at www.enscoplc.com.  Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward looking statements, except as required by law.
 
 
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