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The stock ENSCO PLC (NYSE:ESV) closed at $4.25 losing 2.30% in yesterday’s trading session. Noble Energy, Inc (NYSE:NBL) has contracted the company’s ESV ultra-deepwater drillship, ENSCO DS-7 to complete four production wells at the Leviathan field development in the Mediterranean Sea. Asides from that, Ensco will also be entrusted with the drilling of some two more wells.

Recently, the CEO of ENSCO stated, “As contracting activity continues to increase, customers are demonstrating a clear preference for established offshore drillers such as Ensco with operational track records, financial strength, superior technology and broad geographic reach.”

Fleet upgradation has always been at the center-stage of the company’s business operations. Value creation to the various shareholders has always been one of the top most priorities for the company.

The oil and gas industry greatly depends on Ensco as its main supplier of offshore contract drilling services. As per the recent fleet status, the provider has eight drillships, 39 jackup rigs and 13 semisubmersible rigs. The current operations and drilling contracts of Ensco span across about six continents in almost every enormous offshore basin globally. It is one of the most geographically diverse offshore drilling companies worldwide.

In the last three months, Ensco’s shares lost about 41.9% and that was a significant underperformance considering the 29.2% decline of the industry it belongs to. In the preceding quarter, Range Resources forwarded a positive earnings shocker of 250.00%.This provider beat estimates in three of the trailing four quarters and there have been a 94.22% negative earnings accompanying surprise.

In the quarter ending September 2016, Braskem unveiled a positive earnings surprise of 107.79%.TransCanada on its part delivered a 12.00% earnings surprise in the preceding quarter. It was clear to see that it surpassed estimates in the trailing four quarters that came with 4.06% average positive earnings surprise.

Business dynamics are inevitable and from time they have continued to compel the various companies around the world to shift their perspectives regarding business operations. A spokesperson working with ENSCO revealed that the company had plans underway to help it counter the numerous challenges it had been facing recently.

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Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg, Equities.com, Hacked.com, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.

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