• 6 minutes Can the World Survive without Saudi Oil?
  • 10 minutes Saudis Threaten Retaliation If Sanctions are Imposed
  • 15 minutes Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 1 hour U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 2 hours WTI @ $75.75, headed for $64 - 67
  • 47 mins Saudis Pull Hyperloop Funding As Branson Temporarily Cuts Ties With The Kingdom
  • 1 hour U.S. - Saudi Arabia: President Trump Says Saudi Arabia's King Wouldn't Survive "Two Weeks" Without U.S. Backing
  • 13 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 44 mins EU to Splash Billions on Battery Factories
  • 13 hours UN Report Suggests USD $240 Per Gallon Gasoline Tax to Fight Global Warming
  • 39 mins Iranian Sanctions - What Are The Facts?
  • 13 hours China Thirsty for Canadian Crude
  • 45 mins Superhumans
  • 15 hours Threat: Iran warns U.S, Israel to expect a 'devastating' revenge
  • 14 hours Shell, partners approve huge $31 billion LNG Canada project. How long till Canadian Federal government Environmentalates it into the ground?
  • 15 hours Two Koreas: U.N. Command Wrap Up First Talks On Disarming Border
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

Trending Discussions

This Merger Creates A New Oilfield Services Giant

offshore rig

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:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News