Ensco confirmed plans to shed close to 80 jobs after its $850million takeover of Atwood Oceanics.
Ensco said today that it had agreed an extension on a credit facility to support the company once it takes over rival drilling contractor Atwood Oceanics.
The struggling offshore energy sector may have finally bottomed out, analysts said, with Ensco leading the rebound by winning several new West African drilling contracts.
UK driller Ensco has been awarded three drillship contracts offshore west Africa.
The bid to set up the world's largest jack-up rig operator took another step forward yesterday.
Ensco said it will buy Houston’s Atwood Oceanics for about $850 million in a pairing of struggling deepwater drillers.
UK offshore driller Ensco has entered in to an agreement to merge with US firm Atwood Oceanics, in a deal which will see them become the world’s largest jack-up operator.
A North Sea operator will soon start plugging and abandoning (P&A) wells on the Beatrice oil field as it prepares a wider decommissioning programme.
Ensco has won several new drilling contracts for its jack-up rigs.
Lamprell has said it expects its full-year revenue to be slightly below analysts' estimates after being hit by a deduction of $25million from its final payment made by Ensco caused by late delivery of a rig.
Ensco said it has sold a number of drilling rigs for scrap value.
Offshore drilling firm Seadrill rose the most in more than seven years as investors covered short bets after the company’s main owner, billionaire John Fredriksen, freed up $510 million in cash, fueling speculation of a bailout.
Ensco said it has ended a contract with Petrobras for a drillship over allegations of corruption. The rig contractor said the Brazilian company had chartered the DS-5 in 2008, when it was owned by Pride International.
Ensco will reduce its onshore support jobs by a further 14% in a bid to streamline costs amid the continued decline in oil price. The offshore driller previously said earlier this year it had halved its onshore workforce by 50%.