Acquisition Details Ensco acquires all outstanding shares of Pride - 15.60 cash per share, plus - 0.4778 newly-issued Ensco shares Shareholder Value - 41.60 total value per share of Pride as of 4 Feb 11 - 21% premium to Prides…
Board and Executive Management Board to be expanded to ten members Board Members - Enscos eight directors, plus - Two Pride directors Dan Rabun, Chairman, President & CEO Jay Swent, Senior Vice President & CFO Leadership Team…
Create Worlds Second Largest Offshore Driller Complementary Fleets, Markets & Customers Wider range of enhanced drilling technologies - drillships, semisubmersibles, premium jackups Expand into strategic, high-growth markets…
Worlds Second Largest Offshore Rig Fleet RIG 138 ESV/PDE 74 NE 65 ESV 48 DO 45 SDRL 39 RDC 31 PDE 26 Source: ODS Petrodata 3 Feb 2011 Based on total competitive industry-wide semisubmersibles and drillships…
Wide Range of Advanced Drilling Technologies 7 13 7 47 ULTRA-DEEPWATER DYNAMICALLY POSITIONED MOORED PREMIUM DRILLSHIPS SEMISUBMERSIBLES SEMISUBMERSIBLES JACKUP RIGS 7 Note: Includes rigs under construction.
Second Youngest/Largest Deepwater Fleet (4,500+) Avg. Age of Fleet Fleet Size 25 44 Years RIG 19 ESV/PDE 21 15 NE 21 SDRL 17 7 DO 15 3 PDE 13 ESV 8 Source: ODS Petrodata 3 Feb 2011 Deepwater includes…
Youngest & Third Largest Ultra-Deepwater Fleet (7,500+) Avg. Age of Fleet Fleet Size Years 19 RIG 27 SDRL 16 12 ESV/PDE 13 NE 12 6 ESV 8 2 2 DO 8 PDE 5 Source: ODS Petrodata 3 Feb 2011 Ultra-deepwater…
Largest Active Premium Jackup Fleet Premium Jackups Active RIG 65 ESV/PDE 40 ESV/PDE 47 RIG 38 ESV 40 ESV 37 NE 39 NE 37 RDC 31 RDC 26 SDRL 21 SDRL 16 DO 10 DO 9 PDE 7 PDE 3 10 Source: ODS Petrodata 3 Feb…
Organic Growth from Newbuild Programs 13 Delivered 5 Under Construction 4 2 2 2 2 1 1 1 1 1 1 2004 2005 2006 2007 2008 2009 2010 2011 YTD 2011 2012 2013 Pride semisubmersibles Pride drillships Ensco premium…
Broader Geographic Reach - Minimal Overlap Europe & Mediterranean ESV PDE Total U.S. Gulf of Mexico Semi 1 1 ESV PDE Total Jackups 10 10 Ships 3 3 Semis 3 3 Middle East Jackups 9 2 11 West Africa ESV PDE Total ESV PDE Total…
Deepwater Drilling Opportunity Golden Triangle Emerging 14
Expand Customer Base Minimal Overlap Ensco Pride 16
Safe Operations 1.2 1.0 0.8 Ensco TRIR 0.6 Pride Industry 0.4 0.2 0.0 2005 2006 2007 2008 2009 2010 TRIR = total recordable incident rate. IADC industry stats are 3Q10 for U.S., S. America, Middle East, Asia…
Safety, Health & Environment A Shared Core Value Goal is a zero-incident workplace Executive management commitment and attention Dedicated SHE personnel corporate/region/rig Comprehensive training programs Quality control…
Revenue by Segment Ensco Pro forma 28% 2% 11% 44% 72% Pride 7% 5% 43% 26% Deepwater Jackups 62% Midwater Other 19 Source: Companies reported nine months 2010 revenue.
Capital Management Maintain Flexibility Continue 0.35 per share quarterly cash dividend Revenue backlog and projected cash flows support newbuild programs and pro forma debt Increase scale 16 billion enterprise value Enhance…
Required Approvals and Closing Hart-Scott Rodino Regulatory Other customary regulatory approvals Ensco and Pride shareholder votes Approvals/Closing Anticipated closing: second quarter 2011 23
Summary The Future of Offshore Drilling Create worlds second largest offshore driller Complementary rig fleets, geographic scope and customers Wider range of enhanced drilling technologies Accelerate growth in strategic,…
The Future of Offshore Drilling 25
Important Additional Information Regarding The Transaction Will Be Filed With The SEC In connection with the proposed transaction, Ensco will file a registration statement including a joint proxy statement/prospectus of Ensco and Pride…
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