ESV News and Press, Ensco plc Class A

Quick Take Borr Drilling ( BORR ) has filed to raise gross proceeds of $50 million from a U.S. IPO, according to an F-1/A registration statement . The firm operates as a global offshore shallow-water, or water with depths of up to 400 feet, drilling contractor for the oil & gas indust...

Source: MarineTraffic Picture: Semi-submersible Ensco 8503 Introduction Ensco Rowan ( ESV ) and Transocean ( RIG ) are the two most significant offshore drillers in the world and represent the safest bet in this challenged sector. However, I decided a while back to liquidate my ESV long ...

Ensco Rowan ( ESV ) has recently published its July 2019 fleet status report. This report contains many developments, so let's look at the changes. Floaters Drillship Rowan Relentless (DS-18) got a one-well contract in the U.S. Gulf of Mexico. The rig will drill for EnVen from Octobe...

Helmerich & Payne (NYSE: HP ) fell to six-month lows in today's trade as CEO John Lindsay warned of more pain ahead in the downtrodden oilfield services industry. More news on: Helmerich & Payne, Inc., Patterson-UTI Energy, Inc., Superior Energy Services, Inc., Energy stocks...

Ensco Rowan (ESV) to be renamed Valaris (VAL) announced a successful tender offer of its Senior Notes last week. Due to an abundance of participation by Senior Note holders in the tender offer, management chose to increase the tendered amount from $600.0 million to $724.1 million at a weighted...

Ensco Rowan plc (NYSE:ESV) (“EnscoRowan” or the “Company”) announced today the results to date of its previously announced cash tender offers (collectively, the “Tender Offers,” and each offer to purchase a series of notes individually, a “Tend...

It has become something of a tradition for me to discuss the dayrate and utilization trends in the offshore drilling industry on a regular basis. This is because these are two of the most important macroeconomic factors affecting the companies in the offshore drilling industry. Fortunately, le...

Due to improvements in industry health since Ensco Rowan’s significant impairment charges in 2014 and 2015, I believe the book value of its fleet is conservative and likely below the value of the ongoing enterprise. The P/Book ratio of 0.66x at the time of writing creates enormous upsid...

Back at the end of June, we have discussed floater fundamentals - the numbers showed that the market was taking a pause after the upside seen in the beginning of this year. Recently, an interesting data point emerged - Petrobras ( PBR ) contracted Constellation's drillship Laguna Star for a ...

Ensco Rowan ( ESV ) has been frequently in the news recently. The beginning of June was marked by a strange proposal by the company’s shareholder Luminus Management which proposed borrowing $2.5 billion to pay them as a special dividend to shareholders. Closer to the end of June, real...