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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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