Thursday, September 19, 2019

Ensco Plc News

Rowan Reliance Awarded Fieldwood Contract

© Bernt Christian Egeland / MarineTraffic.com

Offshore drilling contractor Rowan Companies plc announced Monday that its drillship Rowan Reliance has been awarded a contract in the U.S. Gulf of Mexico by Fieldwood Energy LLC.The contract is for a firm term of one year plus three 90-day options, and is expected to commence the first quarter of 2019. The R-Class ultra-deepwater Rowan Reliance is currently warm stacked offshore Louisiana in the U.S. Gulf of Mexico.Tom Burke, Rowan's president and CEO, said, "We are excited to continue our long-standing relationship with Fieldwood, a premier offshore operator…

Offshore Drillers Eye Recovery by 2020

© namning / Adobe Stock

Battered oil and gas drilling companies are finally seeing piecemeal signs that the prices they charge for offshore rigs are bottoming out with Brent crude selling for more than $80 a barrel and some are forecasting a full turn in the market by 2020.At the depths of a global slide that took oil below $27 a barrel in early 2016, daily rates for leasing the most sophisticated floating drilling rigs had fallen to just $180,000 from $500,000 a day, as producer returns from North Sea, Latin America and Canadian drilling evaporated.Transocean Ltd…

Ensco to Buy Rowan in $2.38 Bln Deal

©  Lukasz Z / Adobe Stock

Offshore driller Ensco Plc said on Monday it plans to buy smaller rival Rowan Cos Plc in an all-stock deal valued at $2.38 billion, as it looks to expand its fleet and benefit from a partnership with Saudi Aramco.This is Ensco's second deal since OPEC-led efforts boosted oil prices in the second half of 2016. Ensco bought rival Atwood Oceanics in a similar deal last year.Rowan shareholders will receive 2.215 Ensco shares for each share held.

Ensco Announces Cash Dividend

Ensco plc announced today that its Board of Directors has declared a regular quarterly cash dividend of US$0.01 per Class A ordinary share payable on March 16, 2018.  The ex-dividend date for this payment is expected to be March 2, 2018 with a record date of March 5, 2018.

Ensco Completes Acquisition of Atwood Oceanics

Photo: Ensco

Ensco plc announced today that Ensco shareholders voted to approve the allotment and issuance of Ensco Class A ordinary shares to shareholders of Atwood Oceanics in connection with the all-stock acquisition of Atwood at the Company’s general meeting of shareholders on 5 October 2017. The final results of the general meeting of shareholders held today indicate that 65% of the shares cast at the meeting voted in favor of this proposal. Carl Trowell, Ensco’s President and Chief Executive Officer, said, “We are extremely pleased that Ensco shareholders recognized the strategic and financial merits of our combination with Atwood.

Ensco to buy Atwood Oceanics

Offshore driller Ensco Plc said it would buy smaller rival Atwood Oceanics Inc in an all-stock deal valued at about $839 million.   Atwood shareholders will receive 1.6 Ensco shares for each Atwood share.   The deal, which values each Atwood share at $10.72, represents a premium of 32.6 percent to the company's Friday close.   Reporting by Yashaswini Swamynathan

Options Bulls Betting on U.S. Energy Rebound

File Image (CREDIT: AdobeStock / (c) GEAR STD)

Some U.S. equity options traders are betting that the recent rebound in the price of crude oil spells good news for the battered energy sector. The S&P energy index is still down about 9.9 percent this year, making it the second worst-performing sector among S&P's tracking indexes. That contrasts against the broad benchmark S&P 500 stock index, which is up 6.9 percent for the year. Recent trading in the options market, however, shows traders putting on bullish bets in both options on exchange traded funds exposed to the energy market and individual stocks.

Ensco to Present at Barclays CEO Energy-Power Conference

CEO and President Carl Trowell

Ensco (NYSE: ESV) announced today that CEO and President Carl Trowell will present at the Barclays CEO Energy-Power Conference in New York City on Wednesday, 7 September 2016, beginning at 10:25 AM EDT. Investor materials to be used during the conference will be available on Ensco’s website at www.enscoplc.com the morning of the event. A live webcast will be available at the time of the presentation in the "Investor Relations" event section of the Company's website www.enscoplc.com. A replay of the presentation will be available on our website approximately three hours after the conclusion of the live presentation and will be available for 30 days following the event.

Ensco Declares Cash Dividend

Ensco plc announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.01 per Class A ordinary share payable on June 17, 2016.   The ex-dividend date for this payment is expected to be June 2, 2016, with a record date of June 6, 2016.

Ensco plc Report Loss

RGB-1 Ensco 52 Courtesy Ensco plc

LONDON--(BUSINESS WIRE)-- Ensco plc (NYSE: ESV) today reported a loss of $10.64 per diluted share in fourth quarter 2015 compared to a loss of $14.89 per diluted share in fourth quarter 2014. The loss from discontinued operations in fourth quarter 2015 was $0.41 per share compared to a loss of $1.67 per share last year. The loss from continuing operations in fourth quarter 2015 was $10.23 per share compared to a loss of $13.22 per share a year ago. Excluding these items, adjusted earnings per share from continuing operations were $0.92 in fourth quarter 2015 compared to $1.68 a year ago, detailed in the attached reconciliation table.

Corruption Charges Ends Petrobras Contract with Ensco

Rig contractor Ensco Plc said Petrobras has declared void a contract for a drillship leased to the Brazilian oil producer. Petroleo Brasileiro SA, or Petrobras, chartered the DS-5 in 2008, when it was owned by Pride International, a company bought by Ensco in 2011. Petrobras said in a notice on Monday that Pride had knowledge that the rig's shipbuilder made "improper payments" to a marketing consultant who then shared the money with former employees of Petrobras. (http://1.usa.gov/1JX89dj) Ensco has denied allegations of corruption in Brazil. Reporting by Amrutha Gayathri

Lowe Named Ensco's Next COO

Carey Lowe has been named chief operating officer of offshore drilling services provider Ensco plc. He is based in London and succeeds Mark Burns, who is retiring from the company. Lowe has held various executive management positions at Ensco since joining Ensco in 2008. His experience includes operations, engineering, safety and strategy.   Lowe will leading Ensco's global operations teams as well as its technical group, SHE and strategy, said CEO Carl Trowell.

Baksht Succeeds Swent as Ensco CFO

Ensco plc has named Jon Baksht the company’s new chief financial officer based in London, succeeding Jay Swent, who will retire at year end.   Baksht was most recently vice president - finance after joining Ensco as vice president - treasurer. His professional career includes experience in investment banking and consulting. Baksht has an MBA from the Kellogg School of Management at Northwestern University and a BS in electrical engineering from the University of Texas.   Supply chain and information services will continue to report to Swent in the near term until a new reporting structure is announced.

Samson Bankruptcy Spotlights Offshore Rig Situation

The most significant bankruptcy of the current oil downturn has shone a spotlight on what is perhaps the most oversupplied corner of the energy world: the market for offshore rig services. Samson Resources Corp, an independent oil producer bought just four years ago for $7.2 billion, said in its late Wednesday filing for creditor protection that a 60 percent crude price slide had upended its business. In the offshore space, restructurings and asset sales are widely seen as likely and some chief executive officers are now openly talking about acquisitions.

Major Board Changes at Golar LNG

Chairman, Sir Frank Chapman

Pursuant to today's Notice of AGM, Shareholders are advised to note certain changes to the proposed Board. Chairman, Sir Frank Chapman, has decided not to stand for re-election at the forthcoming AGM, to release the two days a week he currently commits to Golar to focus on other interests. In addition Board member Kate Blankenship has decided not to stand for re-election due to other professional commitments. Both members have contributed significantly to the rapid expansion which currently takes place in Golar. Of special importance has been Sir Frank's deep understanding of the LNG market and his strategic thinking…

Brazil Prosecutors: Charges Pending over Ensco Drillship Lease

Brazilian prosecutors plan to file criminal charges stemming from the lease of an Ensco Plc offshore oil-drilling ship to Brazil's state-run oil company Petrobras "in due course," they said. The plan to prosecute over the Ensco-Petrobras charter was mentioned in a Thursday statement presenting corruption charges stemming from the 2009 lease of another drillship, Vantage Drilling's Titanium Explorer Rig. In the Vantage case, prosecutors formally charged six people, including Petrobras' former international-unit chief Jorge Zelada. Petroleo Brasileiro SA…

Former Petrobras Executive Arrested (Update)

Former Petrobras Director Jorge Zelada Photo Petrobras

Brazilian police arrested Jorge Zelada, former director of Petrobras'  international division, as part of an ongoing investigation into bribery and corruption at the state-run oil producer, prosecutors said on Thursday, July 2nd. Zelada is suspected of money-laundering, appropriating public funds, corruption, tax evasion and contract fraud. He was taken into custody early Thursday as part of the graft probe that has already ensnared dozens of Brazil's top executives. Prosecutor Carlos Fernando dos Santos Lima said Zelada, who led the international division from 2008 to 2012…

Ensco plc Announces Cash Dividend

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Ensco plcannounced today that its Board of Directors has declared a regular quarterly cash dividend of US$0.15 per Class A ordinary share payable on 19 June 2015. The ex-dividend date for this payment is expected to be 4 June 2015, with a record date of 8 June 2015. Ensco announced at its annual general meeting of shareholders on 18 May 2015 that the vast majority of shares cast were voted “For” all proposals in its 1 April 2015 proxy statement. Ensco uses its website to disclose material and non-material information to investors, customers, employees and others interested in the Company. To receive regular updates on Ensco news or SEC filings

Ensco Appoints Rowsey as Non Executive Chairman

Paul_Rowsey

Ensco plc announced today that Paul Rowsey has been named Non-Executive Chairman of the Board following Dan Rabun’s planned retirement on 18 May 2015 concurrent with the annual general meeting of shareholders. Mr. Rowsey has been a member of Ensco’s Board of Directors since 2000. He most recently served as Lead Director and remains Chairman of the Nominating and Governance Committee. Mr. Rowsey said, “I am honored to have been selected by the Board to serve in my new role as Non-Executive Chairman. Mr. Rabun served as Chairman following his retirement as President and CEO in 2014.

ENSCO 110, ENSCO 104 Contracted for UAE & M.E.

ENSCO  104

Ensco plc has entered into a three-year contract with NDC for a new premium jackup, ENSCO 110. This newbuild rig is scheduled to commence operations later this month offshore United Arab Emirates at a rate of approximately $114,000 per day. NDC has also contracted ENSCO 104 for a three-year term at a day rate of $114,000. The rig is mobilizing to the Middle East from the Asia Pacific region and is scheduled to commence its new contract in late-June 2015. Chief Executive Officer Carl Trowell commented, “We are pleased to extend our relationship with NDC.