Ensco and Rowan Join Forces and Now Operate 82 Offshore Rigs

New Company Will Be Based in London and Will Be a Leader in Offshore Drilling in Any Water Depth, According to the Company’s CEO, Carl Trowell.

Ensco and Rowan announced last Thursday (04/11) the merger of the companies, which will now be called EnscoRowan, and the shares will be traded on the New York Stock Exchange.
The UK courts have already approved the deal, the new company will be headquartered in London and will already have an enviable fleet of 82 rigs, consisting of 28 floaters and 54 jack-ups.

In the new shareholding structure, Ensco shareholders will hold 55% of the new company’s shares, and Rowan shareholders will hold 45%.
EnscoRowan will have a market value of approximately US$ 12 billion and the merger operation began being negotiated in the Offshore market in October of last year.

EnscoRowan in Brazil

Ensco 6002, which is chartered by Petrobras until December 2019, is the only rig from EnscoRowan operating in the Brazilian Offshore.
In the early 2000s, Ensco signed four contracts with Petrobras, and the Ensco 6002 is the only one still in effect.

Regarding Rowan, the company does not have contracts with the Brazilian oil company, but they have done business; in January of last year, the driller purchased jack-ups P-69 and P-60 from Petrobras.

The drilling market was recently stirred by another major merger; at the end of last year, Transocean acquired Ocean Rig, creating a new company with a fleet of 57 rigs.

Did you see that the oil company Dommo (formerly Ogx) had an exclusion request made by its partners Enauta (Formerly QGEP) and Barra Energia approved by CADE at the beginning of the year and is appealing to a Paris court to avoid leaving the Atlanta field? Click here to read the full article!