Norway’s Ocean Rig and Friede Goldman Halter signed an agreement, ending a legal dispute over the building of two drilling rigs that was halted earlier this month. “Work on the rigs, which was suspended briefly by Friede Goldman, causing Ocean Rig to commence arbitration and other legal proceedings against Friede Goldman, resumed in full this morning,” it said in a statement to the Oslo Stock Exchange. “Both companies believe that this latest agreement ... reflects the strong interest of both companies in allocating resources as effectively as possible to complete the remaining work on the rigs,” it said. Friede Goldman, based in Gulfport, Miss., halted work on the outfitting of two semi-submersible drilling rigs for Ocean Rig, saying it had previously warned that it did not intend to complete the rigs without a new agreement between the parties. Ocean Rig subsequently began arbitration proceedings against it in London for the two Bingo 9000 rigs at Goldman’s Pascagoula yard in Mississippi. Under the agreement Ocean Rig will pay Goldman a contractually established rate for equipment, personnel and labor provided by Friede Goldman to cover the costs of completing the project, rather than a predetermined lump sum, it said.
DryShips Inc. (NASDAQ: DRYS), or the Company, 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, has announced it is offering 5,000,000 common shares of Ocean Rig that it owns in an underwritten public offering pursuant to Ocean Rig's effective shelf registration statement on Form F-3ASR filed with the Securities and Exchange
Ocean Rig UDW Inc. a global provider of off-shore contract drilling oil services, today announced the following: On November 18, 2014, Ocean Rig’s $120 million loan to its majority shareholder, DryShips Inc. (―DryShips‖), was approved by a special committee of Ocean Rig’s Board of Directors which received a fairness opinion from Global Hunter Securities, a division of Seaport Global Securities LLC, and the loan agreement was executed by both companies
DryShips Inc. global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., off-shore contract drilling oil services, today announced the following: * The Company has repurchased on the open market and cancelled $191,090,000 principal amount of its 5% convertible notes. No other repurchases are planned and therefore the outstanding principal balance of the 5% convertible notes due on
DryShips Inc. (NASDAQ: DRYS) announced its unaudited financial and operating results for the second quarter and six month period ended June 30, 2011. For the second quarter of 2011, the company reported a net loss of $114.1m, or $0.33 basic and diluted loss per share. Included in the second quarter 2011 results are infrequently occurring and non-cash items, totaling $131.5 million, or $0.37 per share which are described below
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
Ocean Rig announces that BP Exploration (Angola) Limited has exercised the 4th option well under the present contract in Angola for Leiv Eiriksson. This well, which will last for an estimated 50 days, will be drilled in a sequence with the previously announced third option under the contract, together estimated to employ the rig until early December 2003. Ocean Rig owns and operates two of the worlds largest and most modern drilling-rigs
DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes and off-shore contract drilling oil services, announced today that Ocean Rig UDW Inc., its majority owned subsidiary, has secured further backlog, as Borders & Southern plc have declared two optional wells under the existing drilling contract for the harsh environment drilling rig Leiv Eiriksson. The two optional wells have been assigned to Falkland Oil and Gas (FOGL) and
DryShips's (NASDAQ: DRYS) fully-owned subsidiary Ocean Rig UDW Inc. received a Letter of Award from a U.S. exploration company for a four well contract for exploration drilling offshore West Africa for a period of about 300 days, commencing in the first or second quarter of 2011. The contract value is approximately $135m. The contract is subject to final documentation. Mr. George Economou, Chairman and CEO of DryShips Inc. and interim CEO of Ocean
DryShips Inc. announced that July 21 was the last day of listing of the shares of Ocean Rig ASA on the Oslo Stock Exchange and that effective July 22nd Ocean Rig ASA will be delisted from the Oslo Exchange.
Several of Ocean Rig UDW Inc. subsidiaries have entered into an omnibus agreement with ENI Angola S.p.A 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.
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
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. Petrobras, as the Brazilian oil company is known, will get the ships
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
DryShips Inc. announced today that it intends to offer senior secured notes due 2017 (the “Notes”) pursuant to its effective shelf registration statement. The Company expects to use the net proceeds of the offering to refinance, in part
ABB, a global leader in power and automation technology, has secured an order to deliver total power solutions to Ocean Rig’s two seventh generation new integrated design mobile offshore drilling units (MODU) that is being built by Samsung Heavy Industries (SHI) at Goeje shipyard in
Ocean Rig UDW Inc. has chosen Kongsberg Maritime to supply an extensive offshore and navigation simulator package for a brand new training center. With a sophisticated integrated simulator suite, enabling specific operations and vessel team training, Ocean Rig’s new facility
DryShips Inc. reports cancellation of four newbuilding contracts with Jiangsu Rongsheng Heavy Industries DryShips Inc., an international provider of marine transportation services for drybulk and petroleum cargos, and through its majority owned subsidiary, Ocean Rig UDW Inc
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
Greece's DryShips, says that its wholly-owned subsidiary, Ocean Rig UDW, has signed definitive documentation, following the previously announced contract award for the 6-year contract for drilling operations offshore Angola for its ultra deepwater drillship the 'Ocean Rig Skyros'.
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
Greece's DryShips Inc. through its majority owned subsidiary, Ocean Rig UDW Inc., informs that it intends to offer $500 million in aggregate principal amount of senior notes due 2019 in a private offering within the United States to qualified institutional buyers pursuant to Rule 144A under the
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
Kongsberg Maritime has delivered its 50th HAIN (Hydro Acoustic aided Inertial Navigation) Reference System, to long-time HAIN user, Ocean Rig. HAIN significantly improves reference data accuracy and update rate sent to Dynamic Positioning (DP) systems to support safer
Greek-based drybulk & tankship owners DryShips and subsidiary offshore deepwater drilling service provider Ocean Rig announce unaudited financial and operating results for the fourth quarter, year ended 31, December 2013. DryShips Fourth Quarter 2013 Financial Highlights