Ensco (ESV -3.9%) says all of its 10 rigs in Brazil have term contracts with no early...

|About: Ensco PLC (ESV)|By:, SA News Editor

Ensco (ESV -3.9%) says all of its 10 rigs in Brazil have term contracts with no early termination or termination for convenience provisions, refuting rumors that weighed on shares during the day. A recent contract signed with Petrobras (PBR) for one rig is contracted through April 2014; ESV is in advanced negotiations for multi-year contracts on its next two rigs coming up for renewal in Brazil.