Ocean Rig UDW Inc. Reports Financial and Operating Results for the Third Quarter 2018
OCEAN RIG UDW (ORIG)
US:NASDAQ Investor Relations:
ocean-rig.irwebpage.com/ir.html
Company Research
Source: GlobeNewswire
GRAND CAYMAN, Cayman Islands, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Ocean Rig UDW Inc. (NASDAQ:ORIG), (“Ocean Rig” or the “Company”), an international contractor of offshore deepwater drilling services, today announced its unaudited financial and operating results for the quarter ended September 30, 2018. Third Quarter 2018 Financial Highlights • For the third quarter of 2018, the Company reported net loss of $31.5 million, or $0.34 basic and diluted loss per share. Included in the net loss for the third quarter 2018 results are: Costs of $4.7 million, or $0.05 per share, associated mainly with the Ocean Rig Skyros statutory periodic survey, which are included in operating expenses.Excluding the above costs, the Company would have reported net loss of $26.8 million, or $0.29 per share. • The Company reported Adjusted EBITDA(1) of $7.0 million for the third quarter of 2018. • The Company’s rigs that are operating under drilling contracts achieved a revenue efficiency of 99.8% for t
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