• 4 minutes 5 Tweets That Change The World?
  • 7 minutes Trump Tariffs NOT China's Biggest concern. Chinese Shadow Banking Bigger. What is Shadow Banking You Ask ?
  • 11 minutes Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 15 minutes Glory to Hong Kong
  • 6 hours Trump will capitulate on the trade war
  • 11 hours China's Blueprint For Global Power
  • 3 hours The power of propaganda has no boundaries: Which country has larger territory US od China
  • 6 hours Support Held. Back in UGAZ
  • 10 hours Any difference btw Hunter Biden on BOD of Ukraine Company vs. Qatar bailout of Kushner Real Estate 666 Fifth Ave ?
  • 13 hours PETROLEUM for humanity 
  • 1 hour Iranian Oil Tanker struck by missiles off Jeddah
  • 4 hours Crazy Stories From Round The World
  • 11 hours ISIS Prisoners Escape Syria Camp After Turkish Shelling. Woohoo!
  • 14 hours How The US Quietly Lost The 1st Amendment
  • 15 hours Leftists crying to make oil patch illegal friendly: 'Broken system' starves U.S. oil boom of immigrant workers: CONGRESS DO YOUR JOBS INSTEAD OF PANDERING!
  • 7 hours China 2019 - Orwell was 35 years out
  • 10 hours Total SA In Expansion: $600 million For India's Adani Gas
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




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play