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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