Ocean Rig Poseidon Extended off Angola, Additional Contract Awarded

ocean rig poseidon tanzania offshore drilling drillship deepwater

*+-Ocean Rig, the deep water drilling specialist reports today they have reached an agreement with ENI Angola S.p.A to extend the contract of the Ocean Rig Poseidon for a further year. This rig is now contracted into 2Q 2017, however it comes with an immediate change to its dayrate according to Ocean Rig, one that […]

Petrobras Extends Ultra Deepwater Ocean Rig Contracts


*+-Cyprus-based Ocean Rig UDW Inc said on Monday that it signed a $1.1 billion three-year contract with Brazil’s state-run oil company, Petroleo Brasileiro SA, to extend a lease on two ultra-deepwater drilling ships.

Eirik Raude Wins Drilling Contract Off Falkland Islands

eirik raude

*+-Ocean Rig, the NASDAQ-listed deepwater driller announced today the winning of a 6-well (minimum), $165 million drilling contract offshore the Falkland Islands with an undisclosed client. The rig is currently in South Africa under contract with Total. The company notes the 6-wells will take approximately 260 days to complete once started in Q1 2015. The Eirik Raude […]

Ocean Rig Orders Ninth Drillship from Samsung Heavy

Ocean Rig's Ocean Rig Mylos, a 7th generation drillship based on the SAIPEM 10000 design. Image credit: Ocean Rig

*+-International deepwater drilling contractor Ocean Rig UDW (NASDAQ: ORIG) on Tuesday announced that it has signed a contract to construct a ninth ultra deepwater drillship at Samsung Heavy Industries for approximately $600 million.

Ocean Rig Signs 6-Year Contract for New Skyros Drillship

Saipem 10K drillship

*+-Deepwater driller Ocean Rig UDW Inc. (NASDAQ: ORIG) has announced the signing of a Letter of Award for its ultra deepwater newbuild drillship Ocean Rig Skyros for a six year contract with an undisclosed energy company offshore West Africa. According to Ocean Rig, this contract adds $1.3 billion to their company’s current backlog. This contract […]

Ocean Rig’s Skyros Drillship Awarded Contract

Saipem 10K drillship

*+-Deepwater drilling contractor Ocean Rig UDW Inc. (NASDAQ: ORIG) announced today that it has received a 5-well contract for its ultra deepwater drillship Ocean Rig Skyros currently under construction at Samsung Heavy Industries.  The contract was signed with an undisclosed oil major and is for 5 wells or a minimum of 275 days of drilling […]

Ocean Rig Reports Strong Ultra-Deepwater Fundamentals


*+-Ocean Rig CEO George Economou commented in his Q1 2013 earnings report yesterday that the “outlook for the UDW (Ultra-Deepwater) drilling industry is very positive given the high level of demand we are continuing to witness, and the emergence of new drilling areas in East Africa and the Asia/Pacific region coming into focus.” The above […]

Ocean Rig’s Eirik Raude To Leave West Africa, Bound for Irish Waters

eirik raude

*+-Deepwater drilling contractor Ocean Rig UDW Inc. (NASDAQ: ORIG) has announced that its semi-submersible rig, the Eirik Raude, was chosen by an undisclosed oil major for a one-well drilling campaign off the coast of Ireland. The contract, worth upwards of $112 million, will commence in Q2 2013 and will last for approximately 6 months. The Eirik […]

Petrobras Cancels 5-Rig Contract with Ocean Rig


*+-SAO PAULO–Brazilian government-run oil company Petroleo Brasileiro SA (PBR, PETR4.BR) on Thursday said it has canceled plans to hire five drilling rigs from Norway’s Ocean Rig UDW Inc. (ORIG, OCRG.NO). Petrobras said it won’t need as many rigs as it had initially expected, because it won’t have to drill as many wells due to “higher productivity gained through the […]

Ocean Rig Continues to Be a Lifeline for Dryships

Ocean Rig was recently awarded two three-year contracts 
for its Ocean Rig Poseidon (pictured) and Ocean Rig Athena drilling rigs for drilling in Angola from two different major international oil companies.

*+-Athens, Greece-DryShips Inc. (NASDAQ: DRYS), an international shipper of dry bulk and petroleum cargos, and through its deepwater drilling subsidiary, Ocean Rig UDW Inc., today issued their financial and operating results for the third quarter ending September 30, 2012. Dryships reported a $51.3 million net loss for the quarter , or 13 cents per share, compared […]

Ocean Rig’s Eirik Raude Finds Employment Off Ireland

eirik raude ocean rig offshore drilling

*+-Ocean Rig UDW Inc. (NASDAQ:ORIG), a global drilling company that specializes exclusively in the deep water segment, announced today that it has received a Letter of Intent for one of its semi-submersible drilling rigs, “Eirik Raude”, from an undisclosed oil major. The Letter of Intent is for a one-well program, with an estimated duration of […]