Ensco Sells ENSCO 57 Jackup
Ensco announced that a subsidiary of the Company has sold ENSCO 57, a F&G L-780 MOD II-C design jackup drilling rig built in the early 1980s. The sale price was approximately $47 million. 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.
Chief Financial Officer Jay Swent commented, "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. Ensco continues to have the second largest fleet of premium jackup rigs in the world."