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Offshore drillers bounce as Ensco updates fleet status

  • Ensco (ESV +0.9%) released its latest fleet status report yesterday, and it seems to be helping lift other offshore drillers, including Noble (NE +2.1%), Rowan (RDC +1.4%), Seadrill (SDRL +1%) and Atwood Oceanics (ATW +1%).
  • ESV's update was highlighted by new contracts within the jackup fleet, along with incremental upgrade and inspection related downtime across the fleet in H2 2014 and FY 2015, Johnson Rice analysts say; meanwhile, the floater fleet remained quiet on the contracting front with upcoming rig rollovers within the 8500 series remaining a key near-term focus.
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