A report of visual inspection from a fixed-wing aircraft has indicated ENSCO 64 is floating approximately 40 miles south of its drilling location. Company personnel will be deployed to assess the extent of damage and determine appropriate remedial action to secure the rig as soon as practicable. The rig is insured for $65 million. Unless the rig is declared a total loss, ENSCO anticipates the cost of repairs will be recoverable in excess of policy deductibles which are limited to $5.5 million.
The Company also has received a preliminary report from a third-party of damage to the helideck on one of the Company's platform rigs, ENSCO 25, which was adjacent to the path of the storm. The Company has commenced inspection and re-boarding operations of its Gulf of Mexico rig fleet and is unaware of any further damage at this time.
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