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Ensco plc – ‘11-KT’ for 6/28/94

As of: Friday, 12/31/93 · For: 6/28/94 · Accession #: 314808-94-32 · File #: 1-08097

  As Of                Filer                Filing    For·On·As Docs:Size

12/31/93  Ensco plc                         11-KT       6/28/94    1:28K

Annual-Transition Report of an Employee Stock Purchase, Savings or Similar Plan — Form 11-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 11-KT       Form 11-K                                             20     56K 

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    SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549     

FORM 11 - K     

ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE    
SECURITIES EXCHANGE ACT OF 1934     

For the fiscal year ended December 31, 1993     

Commission File Number 1-8097     

ENSCO Savings Plan    
(Full title of the plan)    

Energy Service Company, Inc.    
2700 Fountain Place     
1445 Ross Avenue    
Dallas, Texas 75202-2792    
(Name and address of principal executive office of issuer)    

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The  financial statements listed in  the accompanying table  of contents on     
page 3 are filed as part of this Form 11 - K.                                   

Pursuant to  the requirements of the  Securities Exchange Act of  1934, the     
Administrative Committee of the Plan has duly  caused this annual report to     
be signed on its behalf by the undersigned hereunto duly authorized.            

                      ENSCO Savings Plan

Date :  June 27, 1994                     [    /s/ Michael K. Wiley     ]       

                         By:  Michael K. Wiley
                                Plan Administrator

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ENSCO SAVINGS PLAN    
TABLE OF CONTENTS TO FINANCIAL STATEMENTS AND ADDITIONAL INFORMATION    

                                                            PAGE

Financial Statements:                                                           

Reports of Independent Accountants                                  1       

Statement of Net Assets Available for Plan Benefits at                      
December 31, 1993                                                 3     

Statement of Net Assets Available for Plan Benefits at                      
December 31, 1992                                                 5     

Statement of Changes in Net Assets Available for Plan                       
Benefits for the year ended December 31, 1993                     6     

Notes to Financial Statements                                       8       

Additional Information:                                                         

Schedule I  -  Schedule of Assets Held for Investment Purposes     13       

Schedule II -  Schedule of Reportable Transactions                 14       

Exhibits:                                                                       

Consent of Independent Accountants (Price Waterhouse)              16       

Consent of Independent Accountants (Deloitte & Touche)             17       

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REPORT OF INDEPENDENT ACCOUNTANTS     

To the Participants and Trustees of the                                         
ENSCO Savings Plan                                                              

In our opinion, the accompanying statement of net assets available for Plan     
benefits, and the related statement of  changes in net assets available for     
Plan  benefits present  fairly, in  all material  respects, the  net assets     
available  for benefits of the ENSCO  Savings Plan (the "Plan") at December     
31, 1993,  and the changes in its net assets available for benefits for the     
year  then   ended,  in  conformity  with   generally  accepted  accounting     
principles.   These  financial statements  are  the responsibility  of  the     
Plan's management; our  responsibility is  to express an  opinion on  these     
financial statements based  on our audit.  We conducted  our audit of these     
statements in  accordance with generally accepted  auditing standards which     
require that we plan  and perform the audit to  obtain reasonable assurance     
about whether the financial  statements are free of material  misstatement.     
An  audit  includes examining,  on a  test  basis, evidence  supporting the     
amounts  and  disclosures  in  the  financial  statements,  assessing   the     
accounting principles used  and significant estimates  made by  management,     
and  evaluating the overall  financial statement presentation.   We believe     
that our audit provides a reasonable basis for the opinion expressed above.     

As explained in Note 3 to the financial  statements, effective December 31,     
1993,  the Penrod Thrift Plan was merged  with the ENSCO Savings Plan.  The     
Penrod  Thrift Plan  net assets  available for  benefits are  appropriately     
included in the Plan's accompanying financial statements.                       

Our  audit was  made for the  purpose of  forming an  opinion on  the basic     
financial statements taken as a whole.  The additional information included     
in Schedules I and II is  presented for purposes of additional analysis and     
is not  a required part of the basic financial statements but is additional     
information required by ERISA.   Such information has been subjected to the     
auditing  procedures applied in the audit of the basic financial statements     
and, in  our opinion, is fairly stated in all material respects in relation     
to the basic financial statements taken as a whole.                             

Price Waterhouse                                                                
Dallas, Texas                                                                   
June 24, 1994                                                                   

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REPORT OF INDEPENDENT ACCOUNTANTS     

ENSCO Savings Plan                                                              
Dallas, Texas                                                                   

We have  audited the statement of net assets available for plan benefits of     
ENSCO Savings Plan  (formerly Energy Service  Company, Inc. Profit  Sharing     
Plan)  as   of  December  31,  1992.    This  financial  statement  is  the     
responsibility  of the Plan's management.  Our responsibility is to express     
an opinion on this financial statement based on our audit.                      

We conducted  our  audit in  accordance  with generally  accepted  auditing     
standards.   Those standards require that we  plan and perform the audit to     
obtain  reasonable assurance  about  whether the  statement  of net  assets     
available for  plan benefits is  free of  material misstatement.   An audit     
includes  examining, on a test  basis, evidence supporting  the amounts and     
disclosures in the statement of net assets available for plan benefits.  An     
audit  also  includes   assessing  the  accounting   principles  used   and     
significant estimates made by management, as well as evaluating the overall     
financial statement presentation.   We  believe that our  audit provides  a     
reasonable basis for our opinion.                                               

In our opinion, such  financial statement presents fairly, in  all material     
respects, the  net assets available  for plan  benefits of the  Plan as  of     
December  31,  1992,  in  conformity  with  generally  accepted  accounting     
principles.                                                                     

Deloitte & Touche                                                               
Dallas, Texas                                                                   
June 25, 1993                                                                   

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                                        ENSCO SAVINGS PLAN

                                                        [Enlarge/Download Table]
                                   STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS           

                                                  AT DECEMBER 31, 1993                           



                                                           SUPPLEMENTAL FUND INFORMATION         

                                                    GUARANTEED   POOLED                 COMPANY  
                                                    INVESTMENT   EQUITY   INTERMEDIATE   STOCK   
 1993                                                  FUND       FUND     BOND FUND     FUND    
                                                                                                 

ASSETS:                                                                                          
  Cash and cash equivalents........................ $   17,027  $    149    $    747   $ 30,019  
  Receivables:                                                                                   
    Participant contributions......................     25,388    10,910      10,594      7,589  
    Employer contributions.........................    395,907    39,201      34,109     41,152  
    Accrued interest and dividends.................        124        67          63         83  
    Due from participating funds...................      9,002         -      11,976        257  
    Due from merged Penrod Thrift Plan.............          -         -           -          -  
  Investments, at fair value.......................    665,658   332,611     267,095    284,688  
      Total assets.................................  1,113,106   382,938     324,584    363,788  

LIABILITIES:                                                                                     
  Payable to participating funds...................          -    21,235           -          -  
      Total liabilities............................          -    21,235           -          -  

NET ASSETS AVAILABLE FOR PLAN BENEFITS............. $1,113,106  $361,703    $324,584   $363,788  

                       The accompanying notes are an integral part of these financial statements.


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                                                        [Enlarge/Download Table]

                                                   ENSCO SAVINGS PLAN                                                    

                                   STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS                                   

                                            AT DECEMBER 31, 1993  (CONTINUED)                                            



                                                                   SUPPLEMENTAL FUND INFORMATION                         
                                                      GUARANTEED    MONEY                JENNISON   JENNISON             
                                                       INTEREST     MARKET     PRIDEX     EQUITY    BALANCED             
 1993 (CONTINUED)                                        FUND       FUND        FUND       FUND       FUND       TOTAL   
                                                                                                                         

ASSETS:                                                                                                                  
  Cash and cash equivalents........................  $         -    $     -   $      -   $      -   $      -  $    47,942
  Receivables:                                                                                                           
    Participant contributions......................            -          -          -          -          -       54,481
    Employer contributions.........................            -          -          -          -          -      510,369
    Accrued interest and dividends.................            -          -          -          -          -          337
    Due from participating funds...................            -          -          -          -          -       21,235
    Due from merged Penrod Thrift Plan.............   13,498,683     19,745    454,469    797,976    943,135   15,714,008
  Investments, at fair value.......................            -          -          -          -          -    1,550,052
      Total assets.................................   13,498,683     19,745    454,469    797,976    943,135   17,898,424

LIABILITIES:                                                                                                             
  Payable to participating funds...................            -          -          -          -          -       21,235
      Total liabilities............................            -          -          -          -          -       21,235

NET ASSETS AVAILABLE FOR PLAN BENEFITS.............  $13,498,683    $19,745   $454,469   $797,976   $943,135  $17,877,189

                            The accompanying notes are an integral part of these financial statements.                   


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                                                        [Enlarge/Download Table]

                                                   ENSCO SAVINGS PLAN                                      

                                   STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS                     

                                                  AT DECEMBER 31, 1992                                     



                                                            SUPPLEMENTAL FUND INFORMATION                  

                                                    GUARANTEED   POOLED                 COMPANY            
                                                    INVESTMENT   EQUITY   INTERMEDIATE   STOCK             
 1992                                                  FUND       FUND     BOND FUND     FUND      TOTAL   
                                                                                                           
ASSETS:                                                                                                    
  Cash and cash equivalents........................                                                        
  Receivables:                                       $     66   $  8,349   $  2,869     $ 1,625  $   12,909
    Participant contributions......................                                                        
    Accrued interest and dividends.................    23,067     14,308     11,087       4,445      52,907
  Investments, at fair value.......................        48         50         44          24         166
                                                      875,160    454,487    278,085      67,518   1,675,250
NET ASSETS AVAILABLE FOR PLAN BENEFITS.............                                                        
                                                     $898,341   $477,194   $292,085     $73,612  $1,741,232

                       The accompanying notes are an integral part of these financial statements.          


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                                                        [Enlarge/Download Table]
                                                   ENSCO SAVINGS PLAN                                

                             STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS          

                                          FOR THE YEAR ENDED DECEMBER 31, 1993                       



                                                                 SUPPLEMENTAL FUND INFORMATION       

                                                        GUARANTEED    POOLED                  COMPANY
                                                        INVESTMENT    EQUITY    INTERMEDIATE   STOCK 
                                                           FUND        FUND      BOND FUND     FUND  
                                                                                                     
ADDITIONS TO NET ASSETS ATTRIBUTED TO:                                                               
  Interest and dividends............................    $      645   $    456     $    343   $    408
  Participant contributions:                                                                         
    Savings contributions...........................       272,277    157,182      135,071     72,419
    Rollover contributions..........................           439          -            -          -
  Employer contributions............................       395,907     39,201       34,109     94,525
  Net appreciation (depreciation) in fair value                                                      
    of investments..................................        52,534     (8,725)      23,093    155,953
  Interfund transfers...............................        29,945    (36,451)      (9,823)    16,329

      Total additions...............................       751,747    151,663      182,793    339,634

DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO:                                                            
  Distributions to participants.....................       536,982    267,154      150,294     49,458

      Total deductions..............................       536,982    267,154      150,294     49,458

NET ADDITIONS (DEDUCTIONS)..........................       214,765   (115,491)      32,499    290,176

NET ASSETS FROM MERGED PENROD THRIFT PLAN...........             -          -            -          -

NET ASSETS AVAILABLE FOR PLAN BENEFITS:                                                              
    Beginning of year...............................       898,341    477,194      292,085     73,612

    End of year.....................................    $1,113,106   $361,703     $324,584   $363,788

                       The accompanying notes are an integral part of these financial statements.    

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                                                        [Enlarge/Download Table]
                                                   ENSCO SAVINGS PLAN                                             

                             STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS                       

                                    FOR THE YEAR ENDED DECEMBER 31, 1993  (CONTINUED)                             



                                                               SUPPLEMENTAL FUND INFORMATION                      

                                                    GUARANTEED    MONEY            JENNISON  JENNISON             
                                                     INTEREST     MARKET   PRIDEX   EQUITY   BALANCED             
                                                       FUND        FUND     FUND     FUND      FUND       TOTAL   
                                                                                                                  
ADDITIONS TO NET ASSETS ATTRIBUTED TO:                                                                            
  Interest and dividends............................$         -  $     -  $      - $      -  $      -  $     1,852
  Participant contributions:                                                                                      
    Savings contributions...........................          -        -         -        -         -      636,949
    Rollover contributions..........................          -        -         -        -         -          439
  Employer contributions............................          -        -         -        -         -      563,742
  Net appreciation (depreciation) in the fair value                                                               
    of investments..................................          -        -         -        -         -      222,855
  Interfund transfers...............................          -        -         -        -         -            -

      Total additions...............................          -        -         -        -         -    1,425,837

DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO:                                                                         
  Distributions to participants.....................          -        -         -        -         -    1,003,888

      Total deductions..............................          -        -         -        -         -    1,003,888

NET ADDITIONS (DEDUCTIONS)..........................          -        -         -        -         -      421,949

NET ASSETS FROM MERGED PENROD THRIFT PLAN........... 13,498,683   19,745   454,469  797,976   943,135   15,714,008

NET ASSETS AVAILABLE FOR PLAN BENEFITS:                                                                           
    Beginning of year...............................          -        -         -        -         -    1,741,232

    End of year.....................................$13,498,683  $19,745  $454,469 $797,976  $943,135  $17,877,189

                       The accompanying notes are an integral part of these financial statements.                 


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ENSCO SAVINGS PLAN    
NOTES TO FINANCIAL STATEMENTS     
FOR THE YEAR ENDED DECEMBER 31, 1993    

1.   PLAN ORGANIZATION AND DESCRIPTION                                          

The  Energy Service Company, Inc. Profit Sharing  Plan was renamed the
ENSCO  Savings Plan (collectively referred to as  "the Plan") in 1993.
The  following   description  of  the  Plan   provides  only   general
information.   Participants should refer to  the Plan agreement  for a
more complete  description of  the Plan's provisions.   The  Plan is a
defined contribution plan established by Energy Service  Company, Inc.
("the Company")  on May 15, 1991  to provide a  retirement benefit for
employees through a Company profit sharing contribution and to promote
and encourage employees to provide  additional security and income for
their retirement through a systematic savings program.   It is subject
to the  provisions of the Employee  Retirement Income Security  Act of
1974  ("ERISA").  Effective December 31, 1993,  the Penrod Thrift Plan
was merged into the Plan (see Note 3).                                

Employees  of the Company may participate in  the Plan upon completing
certain  service  requirements,  except those  employees  who  already
receive retirement benefits in connection with a collective bargaining
agreement and  certain nonresident employees.   Eligible employees may
elect to participate in the employee savings feature of the Plan after
completing a three-month period of service with the Company  ("Savings
Participants").  Eligible employees will automatically participate  in
the profit sharing feature of the Plan after completing a twelve-month
period  of service  with the  Company.   Eligible employees  under the
Penrod  Thrift Plan  immediately became  eligible employees  under the
Plan effective with the merger of the Penrod Thrift Plan into the Plan
(see Note 3).                                                         

Savings Participants  may elect to make  contributions to the  Plan by
salary reductions  ("Savings Contributions"),  which qualify  for  tax
deferment  under Section  401(k)  of the  Internal Revenue  Code ("the
Code").  Savings Contributions are generally limited to  the lesser of
10% of the Savings  Participant's compensation, or  the annual  dollar
limitation set forth  in Section  415(d) of the  Code ($8,994  for the
year ended December 31, 1993).   Within certain limits, as defined  in
the  Plan, Savings  Participants may  elect  to increase,  decrease or
suspend   their   Savings   Contributions  and   corresponding  salary
reductions.                                                           

At  the discretion of  its Board  of Directors,  the Company  may make
contributions  to the  Plan for  the  benefit of  Savings Participants
("Matching Contributions").  Matching Contributions may be made by the
Company in  the form of a  stated dollar  amount or in  the form of  a
matching percentage of Savings Contributions.  Matching Contributions,
which are made to the Company  Stock Fund, are allocated to individual
Savings  Participants  pro rata  based  on  their  respective  Savings
Contributions for the Plan year, limited to 6%  of their compensation,
as  defined.    Beginning July  1,  1993,  the Company  made  Matching
Contributions  equal  to  25% of  the  first  6% contributed  by  each
individual  participant  which  amounted  to  $64,000  for 1993.    No
matching contributions were made prior to 1993.                       

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At the discretion of its Board of Directors, the Company may also make
annual contributions  to  the Plan  for the  benefit  of all  eligible
employees ("Profit  Sharing  Contributions").   The Company  may  make
Profit Sharing Contributions in either cash or in the Company's common
stock.   Annual Profit Sharing Contributions are allocated to eligible
employees based on their  proportionate compensation.  At December 31,
1993, the  Plan has  a receivable  recorded from  the  Company in  the
amount of  $500,000 related to  the 1993  profit sharing  contribution
which was paid  in March 1994.   No profit sharing  contributions were
made in previous years.                                               

The  Plan  limits  the   sum  of  a   participant's  annual   Matching
Contribution and  Profit Sharing Contribution("Company Contributions")
to  the   lesser  of  $30,000  or   25%  of  the   Plan  participant's
compensation.  Under certain circumstances, Plan participants may make
contributions to  the  Plan in  the  form  of  rollover  contributions
("Rollover Contributions").                                           

All contributions to the Plan are paid into a trust fund maintained by
Texas Commerce Bank (formerly  Ameritrust Texas N. A.) ("the Trustee")
for  the  exclusive  benefit  of  the   Plan  participants  and  their
beneficiaries.   The Trustee maintains separate  accounts for  Savings
Contributions, Company Contributions and Rollover Contributions within
the trust fund for each participant, the balance of which reflects the
participant's respective  contributions, distributions,  earnings, and
any gains and  losses on investments.   Plan  participants direct  the
investment of their account balances to one or more of four investment
funds,  including the  Guaranteed Investment  Fund, the  Pooled Equity
Fund, the Intermediate  Bond Fund  and the  Company Stock  Fund.   The
Trustee also serves  as the investment  manager for  the Plan's  trust
fund and executes all investment transactions.                        

Effective  July 1,  1993, a  Plan participant's  Matching Contribution
account balance and Profit Sharing Contribution account  balance shall
become vested and nonforfeitable upon  the completion of service  with
the Company, as follows:                                              

COMPLETED YEARS OF SERVICE              VESTED PERCENTAGE   

Less than two years                           0 %     
Two years                                    20 %     
Three years                                  40 %     
Four years                                   60 %     
Five years                                   80 %     
Six or more years                           100 %     

In addition,  a Plan participant shall  become fully vested  in his or
her Matching  Contribution account balance and  Profit Sharing account
balance upon certain events, including death or  disability, attaining
the age of 60,  or a full or partial termination of the Plan.   A Plan
participant's  Savings  Contribution  account  balance   and  Rollover
Contribution account balance is fully vested at all times.            

Upon completion  of each Plan year  the nonvested portion  of Matching
Contribution account balances  and Profit Sharing Contribution account
balances of terminated Plan participants ("forfeitures") are forfeited
to  the  Plan  and  may  be  used to  reduce  the  amount  of Matching
Contributions and Profit  Sharing Contributions due or  administrative
expenses to be paid by the Company.                                   

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Distributions of a Plan participant's Savings Contribution account and
Rollover  Contribution   account   and  the   vested  portion   of   a
participant's  Matching   Contribution  account  and  Profit   Sharing
Contribution account are generally made within 60 days of the close of
the  Plan  year in  which  a  participant  attains the  age  of 65  or
termination of employment occurs.                                     

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES                                 

METHOD OF ACCOUNTING                                                  

The  Plan's financial statements are prepared on  the accrual basis of
accounting.                                                           

INVESTMENTS                                                           

The Plan's investments  are stated at  fair value and consist  of debt
and equity funds and common  stock of the Company.  The  fair value of
the  Company's common  stock is  determined  by quoted  market prices.
Fair  value of debt and equity funds are determined by the Trustee and
are  based on quoted market prices  of the securities in  the debt and
equity  funds.    Unrealized  appreciation  or  depreciation   of  the
individual investments is reflected in the asset balances.            

FEDERAL INCOME TAXES                                                  

Management believes that the Plan is qualified under Section 401(a) of
the Internal  Revenue  Code and  therefore the  trust  is exempt  from
taxation under  Section 501(a).  An  IRS determination letter  has not
been obtained at this time.  However, an IRS determination letter will
be  requested  in  the near  future.   Generally,  contributions  to a
qualified plan  are deductible by the  Company when made,  earnings of
the  trust are  tax exempt  and participants  are  not taxed  on their
benefits until withdrawn from the Plan.                               

CASH EQUIVALENTS                                                      

Cash  equivalents  include amounts  invested  in  highly  liquid  cash
management funds that are readily convertible to cash.                

RECLASSIFICATION                                                      

Certain prior year  amounts have been  reclassed to  conform with  the
current year presentation.                                            

3.   PLAN MERGER                                                                

In  August 1993, the Company completed the  step acquisition of Penrod
Holding Corporation  ("Holding").   Penrod  Drilling  Corporation  and
Penrod International Drilling Company, both of which  are wholly-owned
subsidiaries of Holding,  are the sponsoring  employers of  the Penrod
Thrift Plan.                                                          

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Effective December 31, 1993, the Company merged the Penrod Thrift Plan
with the Plan  and all prior  Penrod Thrift  Plan participants  became
Plan  participants.   At December  31, 1993, the  assets of  the prior
Penrod Thrift Plan were still  held by the previous record keeper  and
custodian,  Prudential Defined  Contribution Services,  in  either the
Guaranteed Interest  Account, the Temporary Investment  Account (Money
Market),  the Prudential  Index Stock  Account (PRIDEX),  the Jennison
Equity Account or the Jennison Balanced Account.  At the  direction of
the prior  Penrod Thrift  Plan participants,  all prior Penrod  Thrift
Plan participant account balances  will be transferred  from the prior
Penrod Thrift  Plan funds to  one or more of the  four Plan investment
funds.  Such transfers  are expected  to occur prior  to December  31,
1994.   The  prior Penrod  Thrift Plan  provided that  vesting in  the
sponsoring companies' contributions  plus actual earnings  thereon was
on the basis of 20% per year.   Prior Penrod Thrift Plan  participants
with greater  than three  years of service  at December  31, 1993 will
continue to vest  under the same  guidelines that were in  place under
the  prior Penrod  Thrift  Plan, whereas  participants with  less than
three  years  of  service  will  vest  in  the  sponsoring  companies'
contributions plus actual earnings thereon under the provisions of the
Plan.                                                                 

4.   INVESTMENTS                                                                

Investments at December 31, 1993 and 1992 are as follows:             

                                                SHARES    FAIR VALUE

At December 31, 1993:                                                 
Debt and equity funds:                                          
Retirement Trust Stock Fund of                              
       Texas Commerce Bank...................     2,129    $   332,611
Retirement Trust Managed Guaranteed                         
Investment Contract Fund of                             
         Society National Bank...............   615,552        665,658
Retirement Trust Intermediate Bond                          
       Fund of Texas Commerce Bank...........     2,017        267,095
                                                             1,265,364
Energy Service Company, Inc.                                    
     common stock............................    84,352        284,688
                                                           $ 1,550,052

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At December 31, 1992:                                                 
Debt and equity funds:                                          
Retirement Trust Stock Fund of                              
       Society National Bank.................     3,713    $   454,487
Retirement Trust Managed Guaranteed                         
Investment Contract Fund of                             
         Society National Bank...............   866,581        875,160
Retirement Trust Intermediate Bond                          
       Fund of Society National Bank.........     2,270        278,085

                                                             1,607,732
Energy Service Company, Inc.                                    
     common stock............................    60,016         67,518

                                                           $ 1,675,250

5.   ADMINISTRATIVE FEES                                                        

The  Plan has  no  employees  and  all  costs  of  administrative  and
management services  required to administer the  Plan are paid  for by
the  Company.   In addition,  investment service  fees charged  by the
Trustee in 1993 of $25,245 were paid by the Company.                  

6.   WITHDRAWALS                                                                

Net assets available for plan  benefits at December 31, 1993 and  1992
included $260,245 and $346,508, respectively, for participants who are
no longer employed by the Company.                                    

7.   EXCESS CONTRIBUTIONS                                                       

Net  assets available for plan benefits at  December 31, 1992 includes
$72,930 of  amounts refunded from  the Plan in 1993  to certain highly
compensated  employees   due  to  contributions  which   exceeded  the
discrimination limits  under  Internal Revenue  Code  ("IRC")  Section
401(k).   The Company has not  yet determined the  excess contribution
amount  for 1993 as  the formal  excess contribution test has  not yet
been performed.  Management  has performed a  preliminary estimate  of
the 1993 excess contribution amount and has determined,  based on this
estimate,  that the amount will  not be  material.  The  actual excess
contribution  amount, if any, will be refunded  no later than December
31,  1994 which is within the remedial  correction period as specified
under IRC Section 401(m)(6)(A).                                       

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                                                        [Enlarge/Download Table]
                                                        ENSCO SAVINGS PLAN                             Additional Information
                                                                                                                   Schedule I
                              ITEM 27A (FORM 5500) - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES                         

                                                       AT DECEMBER 31, 1993                                                  



     IDENTITY OF ISSUE OR                       DESCRIPTION OF INVESTMENT                               CURRENT              
        PARTY INVOLVED                          TYPE OF ISSUE                 SHARES           COST       VALUE              
                                                                                                                             

Interest bearing cash:                                                                                                       
      Texas Commerce Bank           EB Money Market Fund of Texas                                                            
                                    Commerce Bank                             46,762       $   46,762  $    46,762           

Common/collective trusts:                                                                                                    
      Texas Commerce Bank           EB Managed Guaranteed Investment                                                         
                                    Contract Fund of Society National                                                        
                                    Bank                                     615,552          627,884      665,658           

      Texas Commerce Bank           EB Growth Equity Fund of TCB               2,129          333,295      332,611           

      Texas Commerce Bank           EB Intermediate Fixed Income Fund                                                        
                                    of TCB                                     2,017          248,869      267,095           

                                                                                            1,210,048    1,265,364           
Employer securities:                                                                                                         
     *Energy Service Company,       Energy Service Company, Inc.                                                             
      Inc.                          Common Stock                              84,352          131,490      284,688           

                                                                                           $1,388,300  $ 1,596,814           
*  Party-in interest                                                                                                         


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                                                        [Enlarge/Download Table]
                                                        ENSCO SAVINGS PLAN                                Additional Information
                                                                                                                     Schedule II
                           ITEM 27D (FORM 5500) - SCHEDULE OF REPORTABLE TRANSACTIONS (IN THE AGGREGATE)                        

                                                   YEAR ENDED DECEMBER 31, 1993                                                 



                                                                                   MARKET                                       
                                                                                  VALUE ON       NET                            
     IDENTITY OF PARTY         DESCRIPTIONS      PURCHASE   SELLING     COST OF  TRANSACTION    GAIN                            
         INVOLVED             OF TRANSACTION      PRICE      PRICE       ASSET      DATE       (LOSS)                           
                                                                                                                                

 EB Money Market Fund       Purchase of shares  $666,347                          $666,347                                      
 of Texas Commerce Bank     Sales of shares                $664,101    $664,101    664,101    $     -                           

 EB Managed Guaranteed      Purchase of shares   129,612                           129,612                                      
 Investment Contract Fund   Sales of shares                 391,650     376,888    391,650     14,762                           
 of Society National Bank                                                                                                       

 EB Growth Equity Fund of   Purchase of shares    96,182                            96,182                                      
 Texas Commerce Bank        Sales of shares                 209,333     217,373    209,333     (8,040)                          

 EB Intermediate Fixed      Purchase of shares    52,983                            52,983                                      
 Income Fund of Texas       Sales of shares                  87,066      82,199     87,066      4,867                           
 Commerce Bank                                                                                                                  

 *Energy Service Company,   Purchase of shares    65,996                            65,996                                      
  Inc. common stock         Sales of shares                   4,779       2,024      4,779      2,755                           

* Party-in interest                                                                                                             

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                                                        [Enlarge/Download Table]
                                                        ENSCO SAVINGS PLAN                                  Additional Information
                                                                                                                       Schedule II
                         ITEM 27D (FORM 5500) - SCHEDULE OF REPORTABLE TRANSACTIONS (SINGLE TRANSACTIONS)                         

                                                   YEAR ENDED DECEMBER 31, 1993                                                   


                                                                                    MARKET VALUE       NET                        
                                             DESCRIPTION      SELLING     COST     ON TRANSACTION     GAIN                        
       IDENTITY OF PARTY INVOLVED           OF TRANSACTION     PRICE    OF ASSET        DATE         (LOSS)                       
                                                                                                                                  
EB Managed Guaranteed Investment           Sale of shares     $169,743  $165,863      $169,743      $ 3,880                       
   Contract Fund of Society National Bank                                                                                         

EB Managed Guaranteed Investment                                                                                                  
   Contract Fund of Society National Bank  Sale of shares      136,268   128,470       136,268        7,798                       

EB Growth Equity Fund of Texas Commerce                                                                                           
   Bank                                    Sale of shares      164,851   171,578       164,851       (6,727)                      


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CONSENT OF INDEPENDENT ACCOUNTANTS    

We hereby consent  to the  incorporation by reference  in the  Registration     
Statement on Form S-8 (No. 33-40282) of Energy Service Company, Inc. of our     
report dated June  24, 1994 appearing  on page 1  in this Annual Report  on     
Form 11-K of the ENSCO Savings Plan.                                            

PRICE WATERHOUSE                                                                

Dallas, Texas                                                                   
June 27, 1994                                                                   

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CONSENT OF INDEPENDENT ACCOUNTANTS    

We  consent to the incorporation by reference in Registration Statement No.     
33-40282 of  Energy Service Company, Inc.  on Form S-8 of  our report dated     
June  25, 1993,  appearing in  this  Annual Report  on Form  11-K of  ENSCO     
Savings Plan for the year ended December 31, 1993.                              

Deloitte & Touche                                                               
Dallas, Texas                                                                   
June 27, 1994                                                                   

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Dates Referenced Herein and Documents Incorporated by Reference

		Referenced-On Page
This ‘11-KT’ Filing	Date	First	Last	Other Filings

	12/31/94	14	15	10-K, 11-K
For Period End:	6/28/94
	6/27/94	2	20
	6/24/94	4	19
Filed on:	12/31/93	1	20
	7/1/93	11	12
	6/25/93	5	20
	12/31/92	5	15
				List all Filings

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Filing Submission 0000314808-94-000032 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Ensco plc – ‘11-KT’ for 6/28/94

As of: Friday, 12/31/93 · For: 6/28/94 · Accession #: 314808-94-32 · File #: 1-08097

Annual-Transition Report of an Employee Stock Purchase, Savings or Similar Plan — Form 11-KFiling Table of Contents

Dates Referenced Herein and Documents Incorporated by Reference

Annual-Transition Report of an Employee Stock Purchase, Savings or Similar Plan — Form 11-K
Filing Table of Contents