Ensco picks up remaining interest in rig for $80M

Big contract driller Ensco International has purchased the remaining 75 percent interest in the Ensco 106 jack-up rig for $80 million, the company said Feb. 7.

Ensco 106, an enhanced Kfels MOD V (B) design, was constructed by Keppel Fels Ltd., a subsidiary which was Ensco’s 75 percent partner in the joint venture. Ensco said it paid a total of $108 million for Ensco 106 and took delivery of the rig Feb. 7

In mid-March, Ensco 106 is expected to begin a one year contract with exploration and production independent Apache in Australia at an average rate of about $97,000 per day, the company said.

With the addition of the Ensco 106 and the expected year-end 2005 delivery of a sister rig now under construction, Ensco 107, Ensco’s premium jack-up fleet will increase to 44 rigs, nine of which will be newly constructed ultra-high specification rigs, the company added.

—Ray Tyson