Market Overview

EnscoRowan Awarded $180 Million by Arbitration Tribunal


Ensco Rowan plc (NYSE:ESV) ("EnscoRowan" or the "Company") today
announced that an arbitration tribunal has awarded the Company $180
million in damages in its proceedings against Samsung Heavy Industries,
a shipyard in South Korea ("SHI"). Further, the Company will be claiming
interest on this amount and costs incurred in connection with this

In April 2016, the Company initiated arbitration proceedings in London
against SHI for the losses incurred in connection with a drilling
services agreement for ENSCO DS-5 that was voided by a customer. In
January 2018, the arbitration tribunal issued an award on liability
fully in EnscoRowan's favor, and the arbitral hearing on damages took
place in the first quarter of 2019. SHI may apply to the English High
Court for leave to appeal this award within 28 days from date of award.
There can be no assurance when the Company will be paid all or any
portion of the damages awarded or any related interest or costs.

Ensco Rowan plc (NYSE:ESV) is the industry leader in offshore drilling
services across all water depths and geographies. Operating a
high-quality rig fleet of ultra-deepwater drillships, versatile
semisubmersibles and modern shallow-water jackups, EnscoRowan has
experience operating in nearly every major offshore basin. With an
unwavering commitment to safety and operational excellence, and a focus
on technology and innovation, EnscoRowan was rated first in total
customer satisfaction in the latest independent survey by EnergyPoint
Research - the ninth consecutive year that the Company has earned this
distinction. Ensco Rowan plc is an English limited company (England No.
7023598) with its corporate headquarters located at 6 Chesterfield
Gardens, London W1J 5BQ. To learn more, visit our website at

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