ENSCO Unable to Locate One Jackup After Ike's Passage

Ensco has completed a preliminary visual inspection of its Gulf of Mexico rig fleet in the path of Hurricane Ike. All but one of the Company's jackup rigs in the hurricane's path have been located and no damage is reported on those rigs. Eight of Ensco's 13 Gulf of Mexico jackup rigs have been re-manned. The Company's deepwater semisubmersible rig, ENSCO 7500, has returned to its drilling location and is preparing to resume operations.

The rig that is not accounted for is ENSCO 74, a MLT Super 116-C that had been located in approximately 230 feet of water 92 miles from shore in South Marsh Island Block 149. Aerial reconnaissance and a boat dispatched to the location failed to locate the rig. All personnel had been safely evacuated from the rig ahead of the storm. The rig is insured for $100 million and the Company has a $50 million per occurrence retention for Gulf of Mexico windstorm damage losses with an aggregate annual limit of $155 million. Updates on the status of ENSCO 74 will be provided as and when new information is available.



Read more on the aftermath of Hurricane Ike in Rigzone's Special Coverage After the Storm.

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