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Ocean RIG UDW Inc (ORIG.OQ)

ORIG.OQ on NASDAQ Stock Exchange Global Select Market

0.21USD
23 May 2017
Change (% chg)

$-0.01 (-3.31%)
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Latest Key Developments (Source: Significant Developments)

Ocean rig udw inc says launch of schemes of arrangement
Monday, 22 May 2017 06:25pm EDT 

May 22 (Reuters) - Ocean Rig Udw Inc :Ocean Rig UDW says launch of schemes of arrangement.Schemes of arrangement proceedings with respect to co, Drillships Financing Holding, Drillships Ocean Ventures, drill rigs holdings launched.Notifies DRH noteholders deadline for DRH early consent fee available to holders who accede to restructuring agreement is on May 29, 2017.Says schemes will affect only financial indebtedness of scheme companies and their co-borrower and guarantor affiliates.Trade creditors and vendors of scheme companies will continue to be paid in ordinary course of business and will not be affected by schemes.If schemes sanctioned, scheme cos will be substantially deleveraged through exchange of about $3.7 billion principal amount of debt.  Full Article

Ocean RIG UDW Inc agrees with DRH Group to "enhance" recoveries of holders of 6.5 pct senior secured notes due 2017
Thursday, 18 May 2017 09:00am EDT 

May 18 (Reuters) - Ocean RIG UDW Inc :Ocean RIG UDW Inc., announces enhanced Drillrig Holdings Inc ("DRH") scheme terms and agreement with an ad hoc group of noteholders of the 6.5 pct notes issued by DRH to sign up to the amended restructuring support agreement.Ocean RIG UDW Inc - reached agreement with DRH Group to "enhance" recoveries of holders of 6.5 pct senior secured notes due 2017 issued by DRH under DRH scheme.Ocean RIG UDW Inc - deadline for DRH early consent fee extended to 5pm NY time on May 31, 2017 and increased from $2.5 million to $3.0 million.Ocean RIG UDW - under modified scheme, amount of equity in reorganized UDW that will be distributed to holders of DRH notes will be increased from 2.6 pct to 3.6 pct.Ocean RIG UDW Inc - DRH early consent fee will be increased from $2.5 million to $3.0 million.Ocean RIG UDW Inc - terms of DRH scheme have also been modified to provide DRH cash option.Ocean RIG UDW - holders of DRH notes will be provided option to put their DRH scheme shares to members of DRH Group for cash equal to 90 pct of value of DRH scheme shares.  Full Article

Ocean Rig announces engagement of Fearnley's and Clarksons
Tuesday, 11 Apr 2017 04:47pm EDT 

Ocean Rig UDW Inc : Ocean Rig announces engagement of Fearnley's and Clarksons and extension of early consent deadline . Ocean Rig UDW - agreed to extend term of early consent deadline under restructuring agreement dated March 23, for holders of SSNS to accede to RSA . Ocean Rig UDW Inc - Drh early consent fee deadline has been extended from April 11, 2017 to April 21, 2017 .Ocean Rig UDW - in connection with engagement of SSN advisor, agreed to accede to RSA, receive pro rata portion of DRH early consent fee of $2.5 million.  Full Article

Ocean Rig announces over 75 pct support for restructuring agreement
Wednesday, 5 Apr 2017 09:00am EDT 

Ocean Rig Udw Inc - : Ocean Rig announces over 75% support for restructuring agreement from holders of the company's consolidated indebtedness .Ocean Rig -has sufficient support from supporting creditors in order to implement restructuring of co, dov and dfh as contemplated by terms of rsa.  Full Article

Ocean Rig UDW files Chapter 15 petition in bankruptcy court
Tuesday, 28 Mar 2017 07:30am EDT 

Ocean Rig Udw Inc : Files Chapter 15 petition in United States Bankruptcy court for Southern District of New York Further company coverage: [ORIG.O] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Ocean Rig Udw Inc. reports financial results for the third quarter 2016
Wednesday, 14 Dec 2016 04:05pm EST 

Ocean Rig Udw Inc : Fleet wide utilization for q3 of 2016 was 97.43% . Total backlog as of december 12, 2016 amounted to $1.8 billion . Ocean Rig Udw - continues to explore strategic alternatives with financial, legal advisors, may include possible restructuring under us bankruptcy laws . Ocean Rig Udw inc. Reports financial and operating results for the third quarter 2016 . Q3 earnings per share $0.47 . Q3 revenue $335 million versus I/B/E/S view $360.7 million .Q3 earnings per share view $0.56 -- Thomson Reuters I/B/E/S.  Full Article

Ocean Rig UDW Q2 earnings per share view $0.72
Thursday, 11 Aug 2016 04:05pm EDT 

Ocean Rig UDW Inc : Ocean Rig UDW Inc. Reports financial and operating results for the second quarter 2016 . Q2 revenue $452.6 million versus I/B/E/S view $376.5 million . Q2 earnings per share $1.83 .Q2 earnings per share view $0.72 -- Thomson Reuters I/B/E/S.  Full Article

Lundin Petroleum CEO says has signed deepwater rig Leiv Eiriksson at "well below $200,000 per day"
Wednesday, 11 May 2016 03:33am EDT 

: Lundin Petroleum CEO Alex Schneiter says has taken advantage of the current market situation and has signed Ocean Rig's deepwater rig Leiv Eiriksson at "well below $200,000 per day" Further company coverage: [LUPE.ST] [ORIG.O] (Reporting By Stine Jacobsen) ((olepetter.skonnord@thomsonreuters.com;)).  Full Article

Ocean Rig UDW Inc to acquire ultra deepwater drillship for $65 mln
Monday, 25 Apr 2016 09:00am EDT 

Ocean Rig UDW Inc:Ocean Rig UDW Inc announces acquisition of Ultra Deepwater Drillship.Purchase price of $65 million.Purchase price will be funded with available cash on hand.Says Drillship will be renamed Ocean Rig Paros upon its delivery to Ocean Rig.One of its subsidiaries has acquired "6th generation ultra deepwater drillship Cerrado, being sold through an auction".  Full Article

Ocean Rig UDW Inc suspends quarterly dividend
Thursday, 6 Aug 2015 04:02pm EDT 

Ocean Rig UDW Inc:Suspends quarterly dividend until market conditions improve.  Full Article

More From Around the Web

BRIEF-Ocean rig udw inc says launch of schemes of arrangement

* Schemes of arrangement proceedings with respect to co, Drillships Financing Holding, Drillships Ocean Ventures, drill rigs holdings launched