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Ensco profit rises on increased offshore drilling rates
October 23, 2013 / 11:03 PM / 4 years ago

Ensco profit rises on increased offshore drilling rates

Oct 23 (Reuters) - Offshore drilling contractor Ensco Plc reported on Wednesday a 10 percent rise in quarterly profit as rig rates increased, even as utilization of its most-valuable drillers declined from the year before.

Third-quarter net profit climbed to $379 million, or $1.62 per share, from $344 million, or $1.48 per share, a year ago. Revenue rose 13 percent to $1.27 billion.

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