Ensco invested a record total of US $1.8 Bn in Capital Expenditure in 2012, with $1.3 Bn of that (72%) going on new construction projects, while also reporting a revenue rise of 12% to $1.086 Bn for the fourth quarter of 2012 compared to a year earlier.
Chief Financial Officer Jay Swent said that the investments, coupled with $1.9 Bn of remaining contractual commitments for rigs being constructed through 2014, would propel the future growth of the company. Floater sector revenues for Ensco, which includes all its semisubmersible and drillship units, were $672m in Q4 2012, up 10% from $610m a year ago.
A full quarter of operations for the ENSCO DS-5 drillship, the contract startup of the newbuild ENSCO 8505 semisub, and an increase in average dayrates and utilisation contributed to the growth, it said. The average dayrate increased to $368,000 from $342,000 in Q4 2011. Utilisation improved 3% to 83%.
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