Dryships Increased Backlog for Ocean Rig UDW

Press Release
Thursday, May 19, 2011

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 provide an additional contract duration of approximately 90 days. The total contract value is now USD 126 million.

Mr. George Economou, Chairman and CEO of Ocean Rig UDW Inc., commented:
“We are pleased to announce the option declaration for the Leiv Eiriksson with Borders & Southern plc. The previously announced rig swap on this contract is a win-win solution for the customer and the Company as demonstrated by the declaration of the options. We continue to work on enhancing the backlog for Ocean Rig.”

 

Source: Dryship inc.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

Subsea 7 Announces PLSV Swap off Brazil

Subsea 7 S.A. said it has reached an agreement with Petrobras to substitute a pipelay support vessel (PLSV) working off Brazil.   The agreement will see the Subsea-7-owned

FPSOs Sit Unprecedentedly Idle

While the oil and gas markets are starting to come to life, nearing the $50 per barrel mark, the future fate of floating production remains a mystery   The 20

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.0813 sec (12 req/sec)