Ensco PLC (ESV) - NYSE
  • Jun. 12, 2015, 10:29 AM
    • The year-long oil price rout has depressed Pacific Drilling’s (PACD +4.9%) market value by nearly two-thirds, making it an attractive takeover target for operators looking to strengthen their presence in ultra-deepwater drilling, Bloomberg writes.
    • PACD already has garnered interest from larger rivals such as Ensco (ESV -1.2%), Transocean (RIG -2.8%) and Seadrill (SDRL -1.9%) in the last 12-18 months, with one of the approaches coming as recently as this year, according to the report.
    • PACD is not believed to be actively exploring a sale, but the shares are trading well below replacement value for the rigs that they own, Evercore analyst James West points out.
    | Jun. 12, 2015, 10:29 AM | 28 Comments
Company Description
Ensco Plc provides offshore drilling services to the petroleum industry. The company provides drilling services to major international, government-owned and independent oil and gas companies. It operates its business through the following segments: Floaters, Jackups and Others. The Floaters... More
Industry: Oil & Gas Drilling & Exploration
Country: United Kingdom