Dryships Acquires Remainder of Drilling Rig

Friday, July 17, 2009

DryShips Inc. (NASDAQ:DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling services, announced today that it has closed the acquisition of the remaining 25% of the total issued and outstanding capital stock of Primelead Shareholders Inc.

Primelead is now a wholly-owned subsidiary of the company. Primelead’s principal assets include two owned and operational ultra deepwater semisubmersible drilling rigs, the Eirik Raude and the Leiv Eiriksson, and four newbuilding drillship contracts for Hulls 1837, 1838, 1865 and 1866. Upon delivery of the newbuilding drillships, Primelead will possess one of the youngest and most sophisticated fleets of ultra deepwater drilling rigs and drillships in the industry. The newbuilding drillships have contractual delivery dates commencing in the fourth quarter of 2010 and ending in the third quarter of 2011. In addition to its drilling rig assets, Primelead owns Ocean Rig ASA which manages the commercial, operational and technical aspects of the six drilling rig assets.

(www.dryships.com)

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

EGAS Tenders for as many as 48 LNG Cargoes

Egypt's state-owned gas company EGAS has tendered to buy at least 48 cargoes of liquefied natural gas (LNG) for delivery in 2015/16, three traders said. A senior

Damen Shipyards Galati wins Dutch Romanian Award

Damen Shipyards Galati has been presented with the Dutch Romanian Business Award for its Corporate Social Responsibility plan, particularly the Group’s community investment initiatives.

Lowrance Renews Insight Genesis College Cup

Lowrance®, a world-leading brand in fishing electronics since 1957— announced today the renewal of its Insight Genesis™ College Cup. In its second year, the

 
 
Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1284 sec (8 req/sec)