Stay Connected

Ensco to acquire Pride in $7.3 billion deal

02/14/2011
Paula Dittrick Senior Staff Writer Ensco PLC agreed to buy Pride International Inc. for $7.3 billion, marking the biggest consolidation in the offshore drilling industry since Transocean Ltd. announced plans to acquire GlobalSantaFe Corp. in July 2007 (OGJ Online, July 23, 2007). The transaction would create the second-largest offshore driller worldwide with 74 rigs. The largest offshore drilling fleet belongs to Transocean, which has 136 rigs. After closing, Ensco will have 21 ultradeepwater and deepwater rigs. Analysts predicted consolidation among offshore drilling contractors, citing regulatory and market uncertainties since the April 2010 Macondo well blowout in the Gulf of...
read-story

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.

 

Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.