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|52-week range||416.50 - 474.00|
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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.
Ensco’s (ESV) drilling expenses were $325 million in the first quarter—up from $278 million in the first quarter of 2017. The drilling costs are lower from $334 million in the previous quarter due to lower scheduled repairs and reactivation costs. Excluding integration-related costs, the total contract drilling expense was better than the guidance of ~$320 million.