Ensco plc Sells Two Jackup Rigs for $33 Million

  Ensco plc Sells Two Jackup Rigs for $33 Million

     Sale of Remaining Cold-Stacked Jackups Part of High-Grading Strategy

Business Wire

LONDON -- February 4, 2014

Ensco plc (NYSE: ESV) has sold its two remaining cold-stacked jackup rigs for
$33 million. The net book value of the two rigs, ENSCO 69 and Wisconsin, both
built in 1976, was approximately $9 million. The pre-tax gain on the sale is
approximately $24 million, which will be included in first quarter 2014
operating results.

Executive Vice President and Chief Financial Officer Jay Swent said, “This
sale is part of Ensco’s ongoing strategy of high-grading our fleet by
divesting older, less-capable assets and reinvesting in advanced-technology
rigs. We believe our orderly process of selling rigs has generated superior
value for shareholders over time, and that this strategy keeps us at the
forefront of industry technology with one of the newest and most capable
fleets in the world.”

During the past four years, Ensco has sold 13 rigs and proceeds have been
reinvested in the fleet. Over the same period, Ensco has taken delivery of 12
high-performance rigs, including five Samsung DP3 ultra-deepwater drillships,
five ENSCO 8500 Series^® ultra-deepwater semisubmersibles and two ENSCO 120
Series ultra-premium harsh environment jackups. In addition, Ensco has six
rigs under construction – three ultra-deepwater drillships and three premium
jackups – that reinforce the Company’s commitment to standardization.

Ensco plc (NYSE: ESV) brings energy to the world as a global provider of
offshore drilling services to the petroleum industry. For more than 25 years,
the company has focused on operating safely and going beyond customer
expectations. Ensco is ranked first in total customer satisfaction with top
honors in 10 of 16 categories in the latest annual survey by EnergyPoint
Research. Operating one of the newest ultra-deepwater rig fleets and the
largest premium jackup fleet, Ensco has a major presence in the most strategic
offshore basins across six continents. In terms of dividend yield, Ensco is
among the top dividend payers of S&P 500 companies. Ensco plc is an English
limited company (England No. 7023598) with its registered office and corporate
headquarters located at 6 Chesterfield Gardens, London W1J 5BQ. To learn more,
visit our website at www.enscoplc.com.

Contact:

Ensco plc
Sean O’Neill, 713-430-4607
Vice President - Investor Relations and Communications
Nick Georgas, 713-430-4490
Manager - Investor Relations
 
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