UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (Date of earliest event reported): August 13, 2010
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Ensco plc
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(Exact name of registrant as specified in its charter)
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England and Wales
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1-8097
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98-0635229
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(State or other jurisdiction of
incorporation)
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(Commission File Number)
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(I.R.S. Employer
Identification No.)
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6 Chesterfield Gardens
London, England W1J 5BQ
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(Address of Principal Executive Offices and Zip Code)
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Registrant's telephone number, including area code: 44 (0) 20 7659 4660
Not Applicable
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(Former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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The condensed consolidated statements of income and cash flows for the three-month periods ended March 31, 2010 and 2009, included in Part I, "Item 1. Financial Statements" of our First Quarter Form 10-Q (filed as Exhibit 99.1 hereto);
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Note 2, Note 8 and Note 10 to our condensed consolidated financial statements as of and for the three-month periods ended March 31, 2010 and 2009, included in Part I, "Item 1. Financial Statements" of our First Quarter Form 10-Q (filed as Exhibit 99.1 hereto); and
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The Results of Operations and Liquidity and Capital Resources Sections, included in Part I, "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations" of our First Quarter Form 10-Q (filed as Exhibit 99.2 hereto).
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changes in U.S. or non-U.S. laws, including tax laws, that could effectively reduce or eliminate the benefits we expect to achieve from our December 2009 redomestication or regulatory or legislative activity that would impact U.S. Gulf of Mexico operations, potentially resulting in a force majeure situation,
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an inability to realize expected benefits from the redomestication,
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costs related to the redomestication and ancillary matters, which could be greater than expected,
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industry conditions and competition, including changes in rig supply and demand or new technology,
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risks associated with the global economy and its impact on capital markets and liquidity,
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prices of oil and natural gas and their impact upon future levels of drilling activity and expenditures,
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further declines in drilling activity, which may cause us to idle or stack additional rigs,
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excess rig availability or supply resulting from delivery of newbuild drilling rigs,
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concentration of our rig fleet in premium jackups,
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concentration of our active ultra-deepwater semisubmersible drilling rigs in the U.S. Gulf of Mexico,
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cyclical nature of the industry,
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worldwide expenditures for oil and natural gas drilling,
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the ultimate resolution of the ENSCO 69 situation in general and the pending litigation, potential return of the rig or package policy political risk insurance recovery in particular,
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changes in the timing of revenue recognition resulting from the deferral of certain revenues for mobilization of our drilling rigs, time waiting on weather or time in shipyards, which are recognized over the contract term upon commencement of drilling operations,
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operational risks, including excessive unplanned downtime due to rig or equipment failure, damage or repair in general and hazards created by severe storms and hurricanes in particular, |
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changes in the dates our rigs will enter a shipyard, be delivered, return to service or enter service,
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risks inherent to shipyard rig construction, repair or enhancement, including risks associated with concentration of our ENSCO 8500 Series® rig construction contracts in a single shipyard in Singapore, unexpected delays in equipment delivery and engineering or design issues following shipyard delivery,
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changes in the dates new contracts actually commence,
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renegotiation, nullification, cancellation or breach of contracts or letters of intent with customers or other parties, including failure to negotiate definitive contracts following announcements or receipt of letters of intent,
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risks associated with offshore rig operations or rig relocations,
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inability to collect receivables,
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availability of transport vessels to relocate rigs,
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environmental or other liabilities, risks or losses, whether related to hurricane damage, losses or liabilities (including wreckage or debris removal) in the Gulf of Mexico or otherwise, that may arise in the future which are not covered by insurance or indemnity in whole or in part,
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limited availability or high cost of insurance coverage for certain perils such as hurricanes in the Gulf of Mexico or associated removal of wreckage or debris,
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self-imposed or regulatory limitations on drilling locations in the Gulf of Mexico during hurricane season,
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impact of current and future government laws and regulation affecting the oil and gas industry in general and our operations in particular, including taxation, as well as repeal or modification of same,
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our ability to attract and retain skilled personnel,
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governmental action and political and economic uncertainties, which may result in expropriation, nationalization, confiscation or deprivation of our assets or create a force majeure situation,
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terrorism or military action impacting our operations, assets or financial performance,
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outcome of litigation, legal proceedings, investigations or insurance or other claims,
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adverse changes in foreign currency exchange rates, including their impact on the fair value measurement of our derivative instruments,
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potential long-lived asset or goodwill impairments,
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potential reduction in fair value of our auction rate securities and the ultimate resolution of our pending arbitration proceedings.
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Exhibit No.
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Description
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15.1
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Letter Regarding Unaudited Interim Information.
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99.1 |
Updated Part I, "Item 1. Financial Statements" of our Quarterly Report on Form 10-Q for the period ended March 31, 2010.
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99.2 |
Updated Part I, "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations" of our Quarterly Report on Form 10-Q for the period ended March 31, 2010.
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101.INS
101.SCH
101.CAL
101.DEF
101.LAB
101.PRE
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XBRL Instance Document
XBRL Taxonomy Extension Schema
XBRL Taxonomy Extension Calculation Linkbase
XBRL Taxonomy Extension Definition Linkbase
XBRL Taxonomy Extension Label Linkbase
XBRL Taxonomy Extension Presentation Linkbase
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Ensco plc
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Date: August 13, 2010
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/s/ DAVID A. ARMOUR
David A. Armour
Vice President - Finance
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/s/ DOUGLAS J. MANKO
Douglas J. Manko
Controller and Assistant Secretary
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Exhibit No.
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Description
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15.1 |
Letter Regarding Unaudited Interim Information.
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99.1 | Updated Part I, "Item 1. Financial Statements" of our Quarterly Report on Form 10-Q for the period ended March 31, 2010. | |
99.2 |
Updated Part I, "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations" of our Quarterly Report on Form 10-Q for the period ended March 31, 2010.
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101.INS
101.SCH
101.CAL
101.DEF
101.LAB
101.PRE
|
XBRL Instance Document
XBRL Taxonomy Extension Schema
XBRL Taxonomy Extension Calculation Linkbase
XBRL Taxonomy Extension Definition Linkbase
XBRL Taxonomy Extension Label Linkbase
XBRL Taxonomy Extension Presentation Linkbase
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7
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