Pankaj Khanna Appointed As CEO of Ocean Rig
Pankaj Khanna has been appointed as President and Chief Executive Officer of Ocean Rig UDW, a global provider of offshore deepwater drilling services, effective January 1, 2018. Khanna is 47 years old with 29 years of varied experience in the maritime & offshore industry. He last served as Chief Executive Officer of Pioneer Marine Inc, a drybulk company that he founded in 2013. Prior to…
Lundin Extends Contract for Ocean Rig
Ocean Rig UDW, contractor of offshore deepwater drilling services, has announced that Lundin Norway AS, has declared their third option to extend the existing contract of the Leiv Eiriksson. In addition, Ocean Rig has granted Lundin 2 additional options to drill further wells in the future. As a result of these developments, the rig now has firm employment until at least the end of September of 2017 and should Lundin exercise its additional seven one-well options…
Ocean Rig Redomiciles to Cayman Islands
Ocean Rig UDW Inc. (NASDAQ:ORIG) (“Ocean Rig” or the “Company”), a global provider of offshore deepwater drilling services, has moved its corporate domicile from the Republic of the Marshall Islands to the Cayman Islands. Effective April 15, 2016, Ocean Rig’s common shares will commence trading under new CUSIP number G66964100. All shares of Ocean Rig will automatically convert by operation of law into shares of the same class of the redomiciled Ocean Rig on a one-for-one basis.
Ocean Rig UDW Announces Closing
DryShips Inc. a global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore deepwater drilling services, announced today that Ocean Rig closed the previously announced offering of 28,571,428 shares of its common stock par value $0.01 per share, at a price of $7.00 per share. As part of the offering…
$475 mi Committed Financing for Ocean Rig Apollo
DryShips Inc. a global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore deepwater drilling services, today announced that Ocean Rig has received firm commitments from lenders for up to a $475 million syndicated secured term loan to partially finance the construction costs of the Ocean Rig Apollo.
Dryships Inks Deal with ENI
DryShips Inc. a global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc. (“Ocean Rig”), of offshore deepwater drilling services, today announced that certain of Ocean Rig’s subsidiaries have entered into an Omnibus Agreement with ENI Angola S.p.pursuant to which ENI has exercised its option to extend…
Ocean Rig Partners Files for IPO
DryShips Inc. through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore deepwater drilling services, today announced that Ocean Rig’s wholly-owned subsidiary, Ocean Rig Partners LP filed a Registration Statement on Form F-1 with the Securities and Exchange Commission (the “SEC”) for the initial public offering of its common units representing limited partner interests. A registration…
$ 1.3 bln Term Loan Facility for Subsidiaries of Ocean Rig UDW Inc.
DryShips Inc. a global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore deepwater drilling services, today announced that due to favorable loan market conditions, Ocean Rig’s wholly owned subsidiaries, Drillships Ocean Ventures Inc. and Drillships Ventures Projects Inc., intend to increase…
Ocean Rig Commences Tender Offer
Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, announced that it has commenced a cash tender offer for any and all of its currently outstanding 9.5% Senior Unsecured Callable Notes due 2016 on the terms and subject to the conditions set forth in the company's offer to purchase dated March 10, 2014. The tender offer will expire at 12:01 a.m., New York City time, on April 7, 2014, unless extended or earlier terminated by the company.
Ocean Rig in the Red Q3 2013 But Increase Drilling Revenues
International contractor of offshore deepwater drilling services, Ocean Rig, announce its unaudited financial and operating results for the third quarter ended September 30, 2013, reporting a net loss of $21.5 million, or $0.16 basic and diluted loss per share. However, Revenues from drilling contracts increased by $42.8 million to $328.5 million for the three-month period ended September 30, 2013, as compared to $285.7 million for the same period in 2012.
