NEW YORK, NY / ACCESSWIRE / October 10, 2017 / Traders News Source, a leading independent equity research and corporate access firm focused on small and mid-cap public companies is issuing a comprehensive report with no obligation on Ensco PLC, (NYSE: ESV) a company that operates through three segments: Floaters, Jackups, and Other. The company owns and operates an offshore drilling rig fleet in the Middle East, Africa, and the Asia Pacific. It also offers management services on rigs owned by third-parties. The company serves government-owned and independent oil and gas companies. Ensco plc was founded in 1975 and is headquartered in London, the United Kingdom.
On October 6th, ESV announced the completion of its acquisition of Atwood Oceanics, Inc. Under the terms of the merger agreement, Atwood shareholders are entitled to receive 1.60 Ensco Class A ordinary shares for each share of Atwood common stock they own. Ensco and Atwood shareholders will own approximately 69% and 31%, respectively, of the outstanding shares of the combined company. Regarding the completion of the transaction, Atwood common stock has ceased trading on the New York Stock Exchange.
What synergies were created with the Atwood acquisition, and analyst's review here READ MORE.
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The past few days or so have been quite eventful for Ensco, and the stock of the company has gained significant strength. The improving sentiments in the offshore drilling sector are led by the positivity of oil producers.
Ensco has used timely acquisitions to grow into one of the leading offshore drilling companies, and the addition of Atwood is another major milestone in its progression. By acquiring Atwood at a pivotal time in the market cycle, Ensco purchased very high-quality assets at compelling prices as values for the highest-specification assets are at a critical inflection point.
Additionally, these high-specification assets should further ESV's ability to meet increasing customer demand and strengthen its competitive position.
Read about the impact of oil prices on ESV and, get a financial review here READ MORE
Copy and paste to your browser may be required to view the report - http://tradersnewssource.com/ensco-plc/
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