) has ordered yet another advanced-capability DP3 ultra-deepwater
drillship as part of its continuing speculative newbuild
contracting spree. The construction cost is estimated at $625
million, including commissioning, systems integration testing,
project management and tubular.
The newbuild - ENSCO DS-10 - represents the eighth Samsung DP3
drillship in the Ensco fleet. It is based on the Samsung GF 12000
hull design of the two existing newbuilds - DS-8 and DS-9. ENSCO
DS-10, which will be built at the Samsung Heavy Industries, Co.
Ltd. shipyard in South Korea, is expected to enhance the benefits
of Ensco's fleet standardization strategy.
The drillship is expected to be delivered in the third quarter
of 2015. The agreement consists of an option for another
drillship of the same design.
The latest unit will be capable of operating in water depth of
about 12,000 feet and drilling to a vertical depth of 40,000
feet. It will be initially equipped to function in a depth of
10,000 feet. The 755-feet long and 125-feet wide ENSCO DS-10 will
provide a 1,250-ton hoisting system with improved offline
ENSCO DS-10 will be outfitted with retractable thrusters,
increased safety and environmental features, advanced dynamic
positioning capabilities as well as enhanced drilling and
completion functionality, together with below-main-deck riser
storage, triple fluid systems and an offline conditioning
The drillship comprises a 15,000-psi subsea well control
system with seven rams and can hold a second BOP stack.
Currently, Ensco has four active DP3 drillships operating in the
U.S. Gulf of Mexico, Brazil and West Africa. Another three are
contracted into 2016 with the fourth contracted into 2018. ENSCO
DS-7, the fifth drillship, expected to be delivered towards the
end of the current year, is slated to work for
) in 2016.
Ensco carries a Zacks Rank #3 (Hold). However, Zacks Ranked #1
(Strong Buy) stocks -
Gulfmark Offshore, Inc.
) -appear attractive for the short term.
ENERPLUS CORP (ERF): Free Stock Analysis
ENSCO PLC (ESV): Free Stock Analysis Report
GULFMARK OFFSHR (GLF): Free Stock Analysis
TOTAL FINA SA (TOT): Free Stock Analysis
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