Ensco divests ENSCO 57 jackup rig

Ensco, an offshore contract drilling company, has announced that a subsidiary of the company has sold ENSCO 57, an F&G L-780 MOD II-C design jackup drilling rig. The sale price was approximately $47 million.

ENSCO 57 was built in the early 1980s. As of March 31, 2010, the net book value for ENSCO 57 was approximately $30 million. The rig will be reclassified as discontinued operations on Ensco’s financial statements as of second quarter 2010, the company said.

Jay Swent, CFO of Ensco, said: “The sale of ENSCO 57, along with two other jackup rigs earlier this year, is part of our long-established strategy of high-grading our fleet by investing in newer equipment and divesting selected assets.”

A service of YellowBrix, Inc.

 

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