Ensco Rowan Form World’s Biggest Offshore Driller

Ensco and Rowan announced April 11 that they have completed a merger that will create the world’s largest offshore drilling company by fleet size.

The formation of Ensco Rowan comes after shareholders of the two companies and regulators gave the go ahead. Legacy Ensco and Rowan shareholders own approximately 55% and 45%, respectively, of the shares of the merged company. The pair said in 2018 as the plan was announced that the merged entity would have an enterprise value of $12bn.

Headquartered in London and with corporate offices in Houston, Ensco Rowan is also present in Angola, Brazil, Norway, Scotland, and the UAE. The world’s largest offshore fleet features 16 drillships, 12 semisubmersibles, 54 jackups and 2 deepwater managed units.

“I look forward to executing on the significant long-term growth opportunities we believe we can capture from our combined strengths as the offshore sector recovers,” said CEO Tom Burke.

“Our increased scale, diversification and financial strength will provide significant advantages … establishing a stronger company capable of thriving throughout the market cycles,” added executive chairman Carl Trowell.