$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. The facility amount is for the lesser of $475 million and 70% of the fair market value of the drillship. This facility has a 5 year term, and approximate 12 year repayment profile, and
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 the contract for the drillship Ocean Rig Poseidon for a further one year until the second quarter of 2017. As part of the contract extension for the Ocean Rig Poseidon, Ocean Rig has
DryShips Reports 3Q 2014 Results
DryShips Inc. an international provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., or Ocean Rig, of offshore deepwater drilling services, today announced its unaudited financial and operating results for the third quarter ended September 30, 2014. Third Quarter 2014 Financial Highlights For the third quarter of 2014, the Company reported net income of $16.7 million, or $0.04 basic and diluted earnings per share. Included in the third quarter 2014 results are: - Non-cash write offs and
Ocean Rig Prices Its US$500-Million Note Offering
Offshore deepwater drilling services provider Ocean Rig informs that the pricing of its previously announced offering has been priced at 100% of par, with a stated interest rate of 7.250%. The Notes are being sold in a private offering within the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain other persons outside of the United States in reliance on Regulation S under the Securities Act. The sale of the Notes is expected to be consummated on March 26, 2014, subject to customary
Ocean Rig Takes Delivery of Newbuild Drillship
Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, announced that it took delivery of its 228- x 42-meter newbuilding drillship, the Ocean Rig Skyros, on Friday, December 20, 2013. The seventh-generation deepwater drillship, built at Samsung Heavy Industries Shipyard in South Korea, is currently mobilizing to offshore Angola to commence drilling operations with Total. The rig features a helicopter deck, is Dynamic Positioned (DP Class 3) and has dual activity capabilities and design for drilling operations in water depths from 500-3,650 meters. ocean-rig
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. Recent highlights reported by Ocean Rig Achieved 98.4% average fleet wide operating performance for the third quarter of 2013. On
Ocean Rig Updates on Financing, Newbuildings & Contracts
Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, has announced the following: $1.35 billion Bank Facility The Company announced that it has signed a supplemental agreement to amend certain provisions in its $1.35b Senior Secured Facility dated February 28, 2013. George Economou, Chairman and Chief Executive Officer of the Company commented: “We are pleased that our syndicate of commercial banks and export credit agencies agreed to our request to amend certain provisions in their facility. These amendments will harmonize our restricted payment provisions and
Ocean Rig Awarded Well Drilling Contract
Ocean Rig UDW Inc, a global provider of offshore deepwater drilling services, announced that it has received a Letter of Award for its ultra deepwater drillship “Ocean Rig Skyros,” from a major oil company. The Letter of Award is for five wells or a minimum of 275 days contract for drilling offshore West Africa, with an estimated backlog of approximately 190 million. The Letter of Award is subject to completion of definitive documentation and receipt of regulatory approvals. The contract is expected to commence upon delivery of the drillship from the shipyard, in October 2013. As a
Ocean Rig Charter Out 'Erik Raude'
Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, signs contract with an oil major for the semi-submersible drilling rig 'Erik Raude'. The drilling contract is for a one-well program, with an estimated duration of up to 6 months, for drilling offshore Ireland, with an estimated backlog of approximately US$112 million, including mobilization and demobilization. The rig is scheduled to commence this contract in the second quarter of 2013, in direct continuation from its previous contract in West Africa. Ocean Rig Ocean Rig is an international offshore drilling
February 2024
