Ensco's Management Shares Its Vision for the Future of the Offshore Industry

And admit that the waters
Around you have grown
And accept it that soon
You'll be drenched to the bone.
If your time to you
Is worth savin'
Then you better start swimmin'
Or you'll sink like a stone
For the times they are a-changin'.

Whenever offshore rig companies release their earnings lately, these Bob Dylan lyrics come to mind. The industry is in a massive state of flux, and those that have tried to hang on to their old business models haven't admitted that their customers have moved on to newer, more capable rigs. 

One of the companies that has learned to swim with the changing tide is Ensco (NYSE: ESV). The company was able to preserve capital during the downturn and was able to pounce on some attractive assets. Today, though, the company foresees another major change in the way it needs to do business, and management is jockeying to adapt to this new reality. Here are a few quotes from Ensco CEO Carl Trowell that highlight what he and his management team are planning to do in the coming years to make offshore drilling a more vibrant industry. 

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Source: Fool.com