ENSCO 8504 Ultra-Deepwater Semisubmersible Contracted with TOTAL in Brunei

Ensco plc ESV announced today that a subsidiary of the Company has entered into a drilling contract for ENSCO 8504 with TOTAL E&P Deep Offshore Borneo B.V. Delivery from the shipyard in Singapore is planned for the end of July 2011 and the contract commencement will follow sea trials and mobilization to Brunei. The initial contract term is for drilling three exploration wells for a minimum of 180 days with a base day rate of $423,500. TOTAL may extend the term by exercising up to four options. The first two options may be exercised to complete up to three additional wells at the same day rate. The third and fourth options may be exercised to complete up to six additional wells at an escalated day rate. The fee for rig mobilization from Singapore to Brunei is $3.5 million.
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