ENSCO International Incorporated on its Record Second Quarter 2008 Results

ENSCO International Incorporated on its Record Second Quarter 2008 Results

International Incorporated has recently reported to the press that the company’s net income increased by 17% in the quarter ended June 30, 2008, to a record $296.7 million ($2.07 per diluted share) on revenues of $637.1 million, as compared to net income of $254.4 million ($1.72 per diluted share) on revenues of $548.6 million for the quarter ended June 30, 2007.

For the six months ended June 30, 2008, net income increased to $568.7 million ($3.97 per diluted share) on revenues of $1,217.4 million, as compared to net income of $486.7 million ($3.26 per diluted share) on revenues of $1,062.7 million for the six months ended June 30, 2007.

The average day rate for ENSCO’s 44-rig jackup fleet for the quarter ended June 30, 2008, increased to $148,200, as compared to $142,900 in the prior year quarter. Utilization of the Company’s jackup fleet was 95% in the second quarter of 2008 compared to 93% in the second quarter of 2007. The average day rate for the Company’s deepwater rig, ENSCO 7500, increased by 83% in the second quarter of 2008, to $365,500, and utilization of the rig increased slightly to 98% from 97% in the prior year quarter.

Contact:

ENSCO International Incorporated
Richard LeBlanc, 214-397-3011

Source: ENSCO International Incorporated

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