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    ENSCO 7500 semi out of action

    News // March 15, 2002
    ENSCO International has announced that the ENSCO 7500, an ultra-deepwaterSemi-submersible rig owned and operated by a wholly owned subsidiary, willincur approximately 30 days downtime during the first quarter of 2002 forsteel repair work on the hull.

    The ENSCO 7500 will mobilize to a Gulf Coast shipyard where the repairs will be completed, whereupon the rig is expected to return to work for TotalFinaElf under an assignment of a long-term drilling contract with Burlington Resources.

    It is anticipated that the rig downtime and the estimated cost of the repairs will reduce earnings per share for the first quarter of 2002 by approximately $.03. The company says it still expects first quarter earnings per share to be in the range of $.05 to $.10, in line with previous guidance.

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