Houston based mostly Ensco and Rowan Companies collectively introduced at this time that the businesses have entered right into a definitive transaction settlement beneath which Rowan will mix with Ensco in an all-stock transaction. The definitive transaction settlement was unanimously accredited by every firm’s board of administrators. The Saudi Aramco companion to the ARO Drilling three way partnership has consented to the mix between Rowan and Ensco.
Creating a number one offshore rig fleet, with lots of the business’s highest specification belongings:
• The mixture will deliver collectively each firms’ complementary companies, creating a number one offshore driller by fleet measurement, geographic presence and buyer base, with 82 rigs1 spanning six continents and collectively serving greater than 35 clients, together with the biggest nationwide oil firms, worldwide majors and unbiased exploration and manufacturing firms.
• The mixed firm’s rig fleet of 28 floaters and 54 jack-ups can be among the many most technologically-advanced within the business, able to offering a variety of drilling companies to an expanded base of purchasers world wide, and can be ideally positioned to satisfy rising ranges of buyer demand for the highest-specification ultra-deepwater drillships and harsh atmosphere jack-ups.
• Within the fleet of 28 floating rigs (drillships and semisubmersibles) are 25 ultra-deepwater rigs able to drilling in water depths of larger than 7,500 ft, with a mean age of six years – establishing this fleet among the many youngest and most succesful within the business. The mixed fleet can even have the second-largest fleet of the highest-specification drillships2 within the business, with 11 of those seventh technology ultra-deepwater rigs.
• The 54-rig jack-up fleet will embrace 38 items which are outfitted with lots of the superior options requested by purchasers with shallow-water drilling applications, akin to elevated leg size, expanded cantilever attain and larger hoisting capability. Among the mixed firm’s jack-up fleet are seven ultra-harsh atmosphere items and 9 extra fashionable harsh atmosphere rigs.
Unparalleled geographic protection:
• The mixed firm would be the most geographically-diverse offshore driller with present operations and drilling contracts spanning six continents in almost each main deep- and shallow-water basin world wide together with the Gulf of Mexico, Brazil, West Africa, North Sea, Mediterranean, Middle East, Southeast Asia and Australia.
• Ensco shareholders will acquire publicity to the ARO Drilling three way partnership and ultra-harsh atmosphere jack-ups, together with a presence in Norway. Rowan shareholders acquire entry to Ensco’s robust relationships with massive deepwater clients and wider geographic footprint, which features a presence in Brazil, West Africa, Southeast Asia and Australia, together with a flexible semisubmersible fleet.
(Source: Ensco and Image: Rowan Companies/jackup Rowan Joe Douglas)
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