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Is Ensco’s 2Q15 Backlog in Line with Its Peers’ Backlogs?

Ensco's 2Q15 Earnings: Key Highlights from a Tough Industry

(Continued from Prior Part)

Capital expenditure

Ensco (ESV) deferred its delivery and large-milestone payment for drillship DS-10 by 18 months to 1Q17. This move significantly reduced the company’s 2015 capital expenditure to approximately $1.7 billion. Ensco’s capital expenditure is expected to reduce further in the coming years as no new rig purchases are planned. The company anticipates its total capital expenditure to be around $750 million in 2016 and 2017.

Ensco’s backlog

On its record, Ensco has a...


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