Key Developments: Ocean Rig UDW Inc (ORIG.OQ)

ORIG.OQ on NASDAQ Stock Exchange Global Select Market

9.46USD
26 Dec 2014
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$-0.08 (-0.84%)
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Latest Key Developments (Source: Significant Developments)

Ocean Rig UDW Inc announces signing of loan agreement with DryShips
Tuesday, 18 Nov 2014 04:02pm EST 

Ocean Rig UDW Inc:Says $120 million loan to its majority shareholder DryShips Inc. was approved by a special committee of Board of Directors.Loan is for a period of 18 months, is unsecured and bears interest at LIBOR plus an average of about 10 pct for the first year and 12 pct for the following six months.On Nov. 18, 2014, as required by the DryShips ABN AMRO facility, Ocean Rig filed a prospectus supplement covering up to 78,301,755 of its common shares held by DryShips or its pledgees.  Full Article

Ocean Rig UDW Inc declares quarterly cash dividend
Monday, 20 Oct 2014 09:34am EDT 

Ocean Rig UDW Inc:Company has declared its third consecutive quarterly cash dividend with respect to the quarter ended Sept. 30, 2014, of $0.19 per common share.Says to shareholders of record as of Oct. 31.Payable on or about Nov. 11.  Full Article

Ocean Rig UDW Inc lends up to $120 mln to subsidiary; updates on deals
Monday, 20 Oct 2014 09:29am EDT 

Ocean Rig UDW Inc:Says has agreed to lend its parent company, Dryships Inc., up to $120 million of immediate liquidity through a short-term unsecured loan.Says proceeds will be used, if needed, to repay Dryship's 5 pct convertible notes maturing in Dec. 1.Says has been awarded extensions of contracts for drillships Ocean Rig Corcovado and Ocean Rig Mykonos by Petroleo Brasileiro.Says signed amendment with Total E&P Angola to extend exercise option date to extend term of contract for two one-year periods.  Full Article

Ocean Rig UDW Inc announces filing of registration statement for Ocean Rig Partners LP
Tuesday, 14 Oct 2014 06:30pm EDT 

Ocean Rig UDW Inc:Says That its wholly owned subsidiary, Ocean Rig Partners LP filed a Registration Statement on Form F-1 with the Securities and Exchange Commission for the initial public offering of its common units representing limited partner interests.Barclays, BofA Merrill Lynch, Credit Suisse, Deutsche Bank Securities, UBS Investment Bank and Raymond James will act as joint book-running managers for the proposed offering.  Full Article

Ocean Rig declares quarterly dividend of $0.19 per common share
Monday, 21 Jul 2014 09:01am EDT 

Ocean Rig UDW Inc:Declares quarterly cash dividend with respect to the quarter ended June 30 of $0.19 per common share.Record date Aug. 1.Dividend payment date Aug. 11.  Full Article

Ocean Rig UDW subsidiaries enter into $1.3 billion term loan facility and withdraw proposed offering of senior secured notes
Friday, 18 Jul 2014 04:03pm EDT 

Ocean Rig UDW Inc:Says due to favorable loan market conditions Drillships Ocean Ventures Inc. and Drillships Ventures Projects Inc are to increase the amount of their proposed senior secured term loan to $1.3 billion.Says the subsidiaries will not proceed with their proposed senior secured notes offering.Says had previously announced that Drillships Ocean Ventures Inc. and Drillships Ventures Projects Inc. intended to consummate a new $800.0 million senior secured term loan and to concurrently offer $500.0 million in aggregate principal amount of senior secured notes due 2022.Intends to use the net proceeds from the senior secured term loan, if completed, together with cash on hand, to repay all of the outstanding amounts under its $1.35 billion senior secured term loan facility.  Full Article

Ocean Rig UDW Inc announces $500 mln senior secured notes due 2022 proposed offering by subsidiaries
Tuesday, 8 Jul 2014 08:01am EDT 

Ocean Rig UDW Inc:Says its wholly owned subsidiaries, Drillships Ocean Ventures Inc and Drillships Ventures Projects Inc, intend to offer, subject to market and other conditions, $500.0 million in aggregate principal amount of senior secured notes due 2022.The offer would be a private offering within the United States to qualified institutional buyers, and to certain other persons outside of the United States in reliance on Regulation S under the Securities Act.  Full Article

Ocean Rig UDW Inc announces signing of contract for the ocean rig skyros
Thursday, 5 Jun 2014 04:02pm EDT 

Ocean Rig UDW Inc:Signs 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, with Total E&P Angola Block 32.  Full Article

Ocean Rig UDW Inc announces drilling contract for Eirik Raude
Wednesday, 4 Jun 2014 08:30am EDT 

Ocean Rig UDW Inc:Signs drilling contract for one of its semi-submersible drilling rigs, Eirik Raude.The contract is for a minimum six-well program, with an estimated duration of about 260 days, for drilling offshore the Falkland Islands.Estimated backlog about $165 million.The rig is scheduled to commence this contract in Q1 2015.  Full Article

Ocean Rig UDW Inc announces first common stock dividend
Thursday, 8 May 2014 04:02pm EDT 

Ocean Rig UDW Inc:Declared a quarterly cash of $0.19 per common share, to shareholders on record as of May 20 and payable on or about May 30.  Full Article

BRIEF-Ocean Rig announces signing of loan agreement with Dryships

* Says $120 million loan to its majority shareholder DryShips Inc. was approved by a special committee of Board of Directors

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