Ocean Rig UDW Inc. Announces Agreement to Postpone Delivery of Newbuilding Drillship Ocean Rig Crete
OCEAN RIG UDW (ORIG)
US:NASDAQ Investor Relations:
ocean-rig.irwebpage.com/ir.html
Company Research
Source: GlobeNewswire
GRAND CAYMAN, Cayman Islands, June 29, 2018 (GLOBE NEWSWIRE) -- Ocean Rig UDW Inc. (NASDAQ:ORIG), (“Ocean Rig” or the “Company”), an international contractor of offshore deepwater drilling services, today announced that its subsidiary that is party to the shipbuilding contract for the construction of its 8th generation enhanced integrated design newbuilding drillship, the Ocean Rig Crete, reached an agreement with Samsung Heavy Industries (“SHI”) to postpone the delivery of the Ocean Rig Crete to September 2020. Under the agreement reached with SHI the expected delivery date will be September 30, 2020 but may be brought forward at the option of the Company. As part of the agreement, the Company will make a $22.25 million payment to the yard within July 2018 against the remaining yard installments. Mr. Pankaj Khanna, President and Chief Executive Officer of the Company, commented: “We are pleased to have reached an agreement to postpone the delivery of the Ocean Rig Crete to Septe
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