ENSCO International Finalizes Contract

Thursday, October 04, 2007
Dallas, Texas-based ENSCO International Inc. reported one of its subsidiaries has entered into a definitive drilling contract for the ENSCO 8502, an ultra-deepwater semisubmersible rig, with Nexen Petroleum USA Inc. The contract calls for a minimum two-year primary in the Gulf, which can be extended to a three- or four-year term. The aggregate day rate revenue for the two-year term is expected to be $340m. The drilling rig is the company’s third of four ultra-deepwater semisubmersibles in the ENSCO 8500 Series under construction and will join the company’s 7500 rig, which was delivered in 2000.

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