Ensco and Rowan merging creates world’s biggest offshore drilling company

Ensco and Rowan merging creates world’s biggest offshore drilling company

The offshore drilling companies Ensco and Rowan are merging. Combined fleet totes 82 offshore rigs all over the world with 28 floating rigs and 54 jack-ups. Rowan CEO will serve as the chief executive of the new company. The estimated value of the combined company is $12.0 billion. The merger is expected to create $150 million in annual cost savings through synergies and standardizations. Tom Burke is the President and Chief Executive Officer of the combined company, while Ensco’s President and CEO Carl Trowell, will serve as Executive Chairman of the combined company.