Ensco PLC was formed as a Texas corporation in 1975. It is a offshore contract drilling company. The Company owns and operates an offshore drilling rig fleet of 74 rigs, including six rigs under construction, spanning the strategic, high-growth markets around the globe. Its rig fleet includes ten drillships, 13 dynamically positioned semisubmersible rigs, six moored semisubmersible rigs and 45 jackup rigs. Its customers include national and international oil companies, in addition to many independent operators. The markets in which it operates include the U.S. Gulf of Mexico, Mexico, Brazil, the Mediterranean, the North Sea, the Middle East, West Africa, Australia and Southeast Asia. The Company's business consists of three operating segments: Floaters, which includes drillships and semisubmersible rigs, Jackups and Other, which consists of management services on rigs owned by third-parties. Its two reportable segments, Floaters and Jackups, provide one service, contract drilling. The Company also maintains insurance for personal injuries, damage to or loss of equipment and other insurance coverage for various business risks. Its insurance program also provides coverage for physical damage to, including total loss or constructive total loss of, its rigs, generally excluding damage arising from a named windstorm in the U.S. Gulf of Mexico. It provides its contract drilling services to international, government-owned and independent oil and gas companies. The Company's operations are subject to laws and regulations controlling the discharge of materials into the environment, pollution, contamination and hazardous waste disposal or otherwise relating to the protection of the environment.
Benzinga is a fast-growing, dynamic and innovative financial media outlet that empowers investors with high-quality, unique content.