Ensco's Board Authorizes $500MM Stock Purchase

The Board of Directors of Ensco International Inc. has authorized the purchase of an additional $500 million of Ensco common stock. The authorization was granted as the Company has nearly completed the previous $1 billion share repurchase authorizations, by which the Company has purchased 16.5 million shares at a total cost of $937.6 million, or an average price of $56.79 per share.

Ongoing repurchases generally will be made in the open market or in privately negotiated transactions, subject to regulatory considerations and market conditions, and will be funded from Ensco's available cash.