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Ocean Rig UDW Inc Announces Letter of Award for Five Well Drilling Contract

Monday, 17 Jun 2013 08:01am EDT 

Ocean Rig UDW Inc announced that the Company has received a Letter of Award for its ultra deepwater drillship, Ocean Rig Skyros, from an oil company. The Letter of Award is for five wells or a minimum of 275 days contract for drilling offshore West Africa, with an estimated backlog of approximately 190 million. The Letter of Award is subject to completion of definitive documentation and receipt of regulatory approvals. The contract is expected to commence upon delivery of the drillship from the shipyard, in October 2013. As a result of this LOA, as of June 17, 2013, the Company's total contracted backlog (including LOAs) stands at approximately USD 5.0 billion.