Tuesday, September 4, 2018
Maritime News

Transocean to Acquire Ocean Rig in $2.9 Billion Deal

By Will Wade and Simon Casey (Bloomberg) — Transocean Ltd., the world’s largest offshore drilling company, agreed to buy a smaller rival in a $2.9 billion deal, with rates for...

September 4, 2018
Total Views: 19

Tuesday, April 24, 2018

Ocean Rig Postpones Delivery of Newbuild Drillship Ocean Rig Santorini at Samsung Heavy

Offshore driller Ocean Rig has announced it has reached a deal with South Korean shipbuilder Samsung Heavy Industries to postpone the delivery of the newbuild drillship Ocean Rig Santorini by...

April 24, 2018
Total Views: 15

Thursday, November 16, 2017

Highland’s Ocean Rig Bet: Fail in Caymans? Try Marshall Islands

By Tiffany Kary (Bloomberg) — A battle of so-called bankruptcy tourists is erupting in New York court. On Thursday, New York bankruptcy Judge Martin Glenn holds a hearing in the...

November 16, 2017
Total Views: 53

Tuesday, March 28, 2017

Deepwater Driller Ocean Rig Files for U.S. Bankruptcy Protection

March 28 (Reuters) – Ocean RIG UDW Inc, a Cyprus-based rig contractor, filed for Chapter 15 bankruptcy protection in a U.S. court amid a deep and prolonged downturn in the...

March 28, 2017
Total Views: 23

Friday, August 12, 2016
Ocean rig olympia total drillship

Ocean Rig Sounds Bankruptcy Alarm, Causing Stock to Tank

Ocean Rig shares crashed nearly 60% Friday after the deepwater drilling contractor announced that it could wind up filing for bankruptcy amid ‘extremely negative’ market conditions that are only expected...

August 12, 2016
Total Views: 27

Monday, April 25, 2016
Cerrado Sertão drillship
Maritime News

Ocean Rig Pays Just $65 Million for Ultra Deepwater Drillship at Auction

In what could be considered the deal of the century, international offshore drilling contractor Ocean Rig has purchased an advanced ultra deepwater drillship at auction for just $65 million in...

April 25, 2016
Total Views: 65

Wednesday, February 17, 2016

Ocean Rig Has Two More Drilling Rig Contracts Cancelled

Deepwater drilling contractor Ocean Rig UDW has announced two drilling contracts held with two separate clients have been terminated, with CEO George Economou calling the early terminations ‘regrettable’ and describing industry...

February 17, 2016
Total Views: 3

Thursday, January 21, 2016
Ocean rig olympia total drillship
Maritime News

Eni Terminates Contract for Ultra Deepwater Drillship ‘Ocean Rig Olympia

Italian oil company Eni has terminated its contract for the ultra deepwater drillship Ocean Rig Olympia due to collapsing oil prices.  The early termination was announced Thursday by offshore drilling...

January 21, 2016
Total Views: 7

Thursday, October 29, 2015
Maritime News

How One Lone Oil Rig Embodies the Brazil Boom That Never Was

  By Sabrina Valle and Peter Millard (Bloomberg) — Oil majors had big plans for Brazil, but you can’t tell by looking at the country’s offshore drilling these days. After...

October 29, 2015
Total Views: 13

Thursday, September 10, 2015
Maritime News

DryShips Sells 17 Vessels for Huge Loss

  Athens-based dry bulk shipping company DryShips, Inc. announced Monday agreements to sell 17 vessels and says its remaining fleet is now held for sale, which will lead to impairment...

September 10, 2015
Total Views: 2

Monday, May 18, 2015
Maritime News

Ocean Rig Drillships Secure Work Offshore Angola

NASDAQ-listed deepwater driller Ocean Rig says it has secured contracts with ENI for two of its ultra-deepwater drillships for work offshore Angola.

May 18, 2015
Total Views: 9

Thursday, January 8, 2015
ocean rig poseidon tanzania offshore drilling drillship deepwater

Ocean Rig Poseidon Extended off Angola, Additional Contract Awarded

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...

January 8, 2015
Total Views: 5

Monday, October 20, 2014

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.

October 20, 2014
Total Views: 11

Wednesday, June 4, 2014
eirik raude

Eirik Raude Wins Drilling Contract Off Falkland Islands

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...

June 4, 2014
Total Views: 12

Tuesday, September 3, 2013

Ocean Rig Orders Ninth Drillship from Samsung Heavy

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.

September 3, 2013
Total Views: 49

Tuesday, July 23, 2013
Saipem 10K drillship

Ocean Rig Signs 6-Year Contract for New Skyros 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...

July 23, 2013
Total Views: 15

Monday, June 17, 2013
Saipem 10K drillship

Ocean Rig’s Skyros Drillship Awarded Contract

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...

June 17, 2013
Total Views: 9

Thursday, May 23, 2013

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...

May 23, 2013
Total Views: 3

Tuesday, January 15, 2013
eirik raude

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

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...

January 15, 2013
Total Views: 16

Thursday, November 29, 2012

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...

November 29, 2012
Total Views: 2