Ensco Inks $480M Anadarko Deepwater Drilling Deal

Law360, New York (January 31, 2012, 3:25 PM EST) -- Drilling equipment supplier Ensco PLC has signed a contract worth more than $480 million to provide Texas-based Anadarko Petroleum Corp. with a deepwater drill, London-based Ensco announced Tuesday.

The terms for the 2 1/2-year contract are based on a day rate of $530,000, plus cost adjustments, Ensco said. The company said it will deliver its rig, model 8506, from a Singaporean shipyard later this year.

“We'll get the rig in November, and it'll operate in the Gulf of Mexico. We've had a very good relationship with...
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