Ensco’s prospects look bright as the bagged new orders despite the ongoing commodity price volatility earlier in the year. These include contracts for ENSCO 8504 in Indonesia along with two five-year contracts for drilling management services in the U.S. Gulf of Mexico. Ensco has also been selling/stacking older rigs as well as investing in high-specification rigs in order to improve the quality of its fleet. However, the company’s recent results have been affected by lower crude pricing and reduced drilling activity. Additionally, the outlook for floater demand in the future looks duller than ever with depressed oil prices. As crude remains weak, top energy companies are expected to cut spending (particularly on the costly upstream projects) due to lower profit margins. This, in turn, means less work for contract drillers like Ensco.