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April 20, 2005
Hurricane-Damaged Jackup Rig ENSCO 64 Declared a Constructive Total Loss
ENSCO International Incorporated announced that the Company's jackup drilling rig which was severely damaged by Hurricane Ivan in September 2004, ENSCO 64, has been declared a constructive total loss for insurance purposes. The Company expects to receive the $65 million insurance proceeds within the next two weeks, and plans to recognize an after tax gain of approximately $8 million related to this insurance settlement during the second quarter of 2005.
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Posted on April 20, 2005 10:14 PM by Hurric18.
Filed in Hurricane! under hurricane ivan.
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