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Ensco plc sells two jackup rigs for $33 million


Published Feb 6, 2014
ENSCO 69

Ensco plc has sold its two remaining cold-stacked jackup rigs for $33 million. The net book value of the two rigs, ENSCO 69 and Wisconsin, both built in 1976, was approximately $9 million. The pre-tax gain on the sale is approximately $24 million, which will be included in first quarter 2014 operating results.

Executive Vice President and Chief Financial Officer Jay Swent said, 'This sale is part of Ensco's ongoing strategy of high-grading our fleet by divesting older, less-capable assets and reinvesting in advanced-technology rigs. We believe our orderly process of selling rigs has generated superior value for shareholders over time, and that this strategy keeps us at the forefront of industry technology with one of the newest and most capable fleets in the world.'

Tags: Ensco plc




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