Search results for: rig

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  • 12 May 2015

    Ocean Rig UDW, an offshore drilling company owned by the Greek shipping magnate George Economou, has reported its first quarter net profit was $41.4 million. This means the company has returned to 1Q profit, as the same quarter in 2014, Ocean Rig UDW reported a net loss of $1.5 million. Revenues from drilling contracts increased […]

  • 20 September 2017

    Offshore drilling company Ocean Rig on Wednesday announced a reverse stock split of 1-for-9200 common shares. This means that shareholders will own one Ocean Rig share for every 9200 shares they currently own. Ocean Rig said the the reverse stock split will take effect as of 5:00 P.M., New York City time, on September 21, […]

  • 1 February 2016
    Exploration & Production

    Less than a fortnight has passed since Ocean Rig UDW Inc. an offshore driller run by the shipping magnate George Economou, lost a drillship contract with Eni, and now the company is facing another challenge. Ocean Rig on Monday said that it has received a notice of breach of material obligations from Premier Oil under the drilling contract […]

  • 15 April 2016

    Offshore driller Ocean Rig will move its corporate domicile from one offshore financial center to another – from the Marshal Islands to the Cayman Islands. The driller, run by the Greek shipping magnate George Economou, said that starting April 15, Ocean Rig’s common shares will start trading under new CUSIP number G66964100. “All shares of Ocean […]

  • 5 August 2018
    Exploration & Production

    The number of U.S. offshore rigs rose to 17 active units during this past week, according to the weekly rig count report issued on Friday by Baker Hughes.

  • 8 December 2015
    Exploration & Production

    George Economou, CEO of Ocean Rig UDW, a provider of ultra-deepwater drilling services, expects 2016 will be challenging, and it will be tough obtaining new contracts for drilling rigs. The driller has posted a net income of $138.4 million for the third quarter of 2015. This is a rise compared to the third quarter of 2014, […]

  • 28 July 2010

    North Rankin Platform

  • 4 May 2018
    Exploration & Production

    World’s largest offshore accommodation rig supplier Prosafe turned profitable in the first quarter of 2018, after posting a loss in the corresponding period of 2017.

  • 13 January 2017
    Exploration & Production

    The offshore rig market has been flooded with newbuilds over the past 10 years. Now oversupply is killing utilization and dayrates.