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Ensco’s Third-Quarter Cost Guidance

Sue Goodridge
Ensco’s Third-Quarter Cost Guidance

Ensco’s (ESV) drilling expenses were $344 million in the second quarter—up from $291 million in the second quarter of 2017. The company’s drilling expenses rose mainly due to $47 million in costs associated with 11 Atwood Oceanics (ATW) rigs, the addition of ENSCO DS-10 into the active fleet, and $5 million in integration-related costs. Ensco expects its drilling expenses to decrease in the third quarter to $330 million.