ENSCO International
Encyclopedia
Multinational corporation
A multi national corporation or enterprise , is a corporation or an enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation...
oil
Petroleum
Petroleum or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface. Petroleum is recovered mostly through oil drilling...
and gas
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
services company headquartered in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
. It is the world's second-largest offshore oil and gas well drilling
Well drilling
Well drilling is the process of drilling a hole in the ground for the extraction of a natural resource such as ground water, natural gas, or petroleum...
company, and has 49 offshore jack-ups, seven drillships and 20 semi-submersible
Semi-submersible
A semi-submersible is a specialised marine vessel with good stability and seakeeping characteristics. The semi-submersible vessel design is commonly used in a number of specific offshore roles such as for offshore drilling rigs, safety vessels, oil production platforms and heavy lift cranes.The...
drilling rig
Drilling rig
A drilling rig is a machine which creates holes or shafts in the ground. Drilling rigs can be massive structures housing equipment used to drill water wells, oil wells, or natural gas extraction wells, or they can be small enough to be moved manually by one person...
s servicing domestic US, international, and scientific drilling
Scientific drilling
Scientific drilling is a way to probe down into the Earth, allowing scientists and students to obtain samples of sediments, crust, and upper mantle. In addition to rock samples, drilling technology allows humans to obtain samples of connate fluids and of the subsurface biosphere, mostly microbial...
markets.
With over 7,000 employees, and annual revenue
Revenue
In business, revenue is income that a company receives from its normal business activities, usually from the sale of goods and services to customers. In many countries, such as the United Kingdom, revenue is referred to as turnover....
in the $2.3 billion range, the Company is publicly traded on the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
under the symbol ESV.
In 2009 Ensco announced that it would move its headquarters to London and become a UK-registered company. It stated that it did not plan to move "a large number" of employees to London and that the COO of the company would remain based in Dallas.
In February 2011, Ensco agreed to acquire its rival Pride International
Pride International
Pride International, Inc. was an offshore oil drilling company headquartered in Houston, Texas, the United States. With over 7000 employees, Pride provided contract drilling and related services to oil and gas companies worldwide. It had positioned its fleet to operate offshore with more than 50...
for $7.3 billion. The acquisition provided Ensco access to the lucrative Brazil and West African markets, as well as greatly diversified its asset base from being largely jack-up rigs into the drillship and semi-submersible rigs as well.