• 2 days The Federal Reserve and Money...Aspects which are not widely known
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days Coincidence of EIA Report Delay? - "I had seen it delayed minutes, and a couple of times a few hours, but don’t recall something like this — do others?" asks Javier Blas
  • 20 hours European Parliament Members, Cristian Terhes et al, push back against Totalitarian Digital ID and Carbon Tyranny in Europe.
  • 4 days Demonising fossil fuels has caused major grid problem in Australia
  • 8 days "And this is perhaps the most dangerous kind of government there can be."
  • 3 days "...too many politicians believe things that aren’t true." says Robert Rapier
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 3 days Welcome to Technocracy - The New World Energy Order... "1000s Of Sydney Homes Plunged Into Darkness As Aussie 'Price Cap' Policy Sparks Energy Shortage"
  • 5 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 330 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 7 days ESG Topic - "German Police Raid Deutsche Bank, DWS Over Allegations Of Greenwashing" - ZeroHedge Bloomberg and others
Iranian Food Consumption Plummets As Prices Soar

Iranian Food Consumption Plummets As Prices Soar

Soaring prices are weighing on…

Natural Gas In The Limelight As Power Demand Soars

Natural Gas In The Limelight As Power Demand Soars

While oil markets remain very…

Why Chinese Imports Of U.S. LNG Collapsed

Why Chinese Imports Of U.S. LNG Collapsed

Chinese imports of LNG from…

Rystad Energy

Rystad Energy

Rystad Energy is an independent oil and gas consulting services and business intelligence data firm offering global databases, strategy consulting and research products. Rystad Energy’s…

More Info

Premium Content

This Merger Creates A New Oilfield Services Giant

Two of the leading offshore drilling contractors have agreed to merge creating an industry-leading drilling contractor capable of working across all water depths with a truly global footprint.

(Click to enlarge)

The combined fleet will be comprised of 82 units made up of 28 floaters and 54 jackups. Thirty-eight units out of the jackup fleet and 11 units of the floater fleet are high spec, giving the combined company one of the most capable fleets in the industry.

Through the merger with Rowan, Ensco will enter the harsh-environment Norwegian market where it had previously not had a footprint. This also creates the largest marketed, high-spec jackup drilling contractor in the Gulf of Mexico. The combined company will be very well positioned to benefit from the upturn in the offshore drilling sector.

Among the benefits of the merger is the large customer base the newly-combined company will have across majors, national oil companies and smaller independents. Many of the largest operators such as Saudi Aramco, BP, Chevron, ExxonMobil, and Shell as well as smaller operators like Cantium, GulfSlope, Fieldwood and Castex will now benefit from economies of scale and operational expertise across the globe.

(Click to enlarge)

The combined company’s balance sheet is estimated to have liquidity of approximately $3.9 billion, including $1.9 billion of cash and short-term investments providing financial flexibility. Total estimated revenue backlog for the combined entity is approximately $2.7 billion, excluding ARO Drilling’s backlog.

By Rystad Energy

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News