Ensco Q2 2013 Contracted Revenue Backlog $11-biliion

Monday, July 29, 2013
Image courtesy of Ensco

Offshore drilling services provider Ensco on the crest of the wave according to their second quarter 2013 financial results.

  • Record Revenues Totaling $1.2 Billion

  • Operating Income Grew 12%

  • $11 Billion of Contracted Revenue Backlog

  • Ordered ENSCO DS-10 Ultra-Deepwater Drillship and ENSCO 110 Premium Jackup

  • Hosted Naming Ceremony for ENSCO DS-7 in South Korea

Chairman, President and Chief Executive Officer Dan Rabun stated, “We continue to see strong, broad-based customer demand given the steady pace of new discoveries that must be appraised and developed. Based on our positive outlook, we recently ordered our eighth Samsung DP3 drillship, ENSCO DS-10, and our seventh Keppel FELS B Class jackup, ENSCO 110.”

Mr. Rabun added, “These new assets reinforce our fleet standardization strategy that provides customers consistently high levels of operational excellence.”

Revenues grew 17% to a record $1.248 billion in second quarter 2013 from $1.071 billion a year ago. Operating income grew 12% to $452 million and earnings increased $20 million to a record $361 million. The addition of ENSCO 8506 and ENSCO DS-6 to the active fleet as well as a full quarter of operations for ENSCO 8505 drove these increases. The average day rate for the fleet increased $36,000 year to year to $228,000.

Contract drilling expense was $607 million, up from $494 million in second quarter 2012. This increase was primarily due to adding new floaters to the active fleet as well as a previously anticipated increase in labor costs.

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Royston Appoints New US Distributor

Diesel power engineering specialist Royston has appoint a new U.S.-based distributor, citing growing interest in its advanced Enginei marine fuel management and monitoring systems.

SSI Hires Holder for US Sales

SSI has hired CAD/CAM specialist Robert Holder as part of its sales force in the U.S. market.    According to SSI, the hiring is intended to meet the expanding

MacGregor Wins Orders for Pusnes Deck Machinery

MacGregor, part of Cargotec, announced it has secured orders for a series of Pusnes deck machinery packages for several shipowners. The Pusnes equipment has been


Ship Conversion: Offshore Survey Vessel to Become a Flotel

Dutch shipowner C-Bed has contracted Wärtsilä Ship Design to supply the design for rebuilding its Seismic Survey Vessel, the Viking II, for use as a hotel vessel

Deepwater Downturn: Bump in the Road or Long-Term Slowing of Growth?

IMA/World Energy Reports has just completed a comprehensiveassessment of the five year outlook for the deepwater sector.  The new report – the 19th annual floater

Tidal Energy from Deep and Slow Waters

Deep Green, an underwater kite construction from the Swedish company Minesto, is set to be deployed in 2017 at the Holyhead Deep site off the coast of Anglesey, Wales.


R-22 Phase-out Presents Dangers and Expense -WSS

The shipping industry is facing price, supply and safety risks in the run-up to the global ban on R-22 (chlorodifluoromethane or HCFC) refrigerant, warns Wilhelmsen Ships Service,

U.S. Ups Philippines Aid as South China Sea Turmoil Builds

The United States has raised its military aid to the Philippines this year to $79 million, the U.S. ambassador said on Wednesday, as tension rises in the region

Asia Fuel Oil-Cracks, Spreads Tight; Bunker Prices Climb

Asia's fuel oil crack for benchmark 180-centistroke rebounded to a discount of $6.79 a barrel on Wednesday, gaining as bunker prices firmed on the possibility of

Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1073 sec (9 req/sec)