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Ocean Rig UDW Announces Letter of Intent for the Eirik Raude For $112M


Ocean Rig UDW Inc. (NASDAQ: ORIG) today announced that it has received a Letter of Intent for one of its semi-submersible drilling rigs, "Eirik Raude," from an oil major. The Letter of Intent is for a one-well program, with an estimated duration of up to 6 months, for drilling offshore Ireland, with an estimated backlog of approximately $112 million, including mobilization and demobilization. The rig is scheduled to commence this contract in the first quarter of 2013, in direct continuation from its previous contract in West Africa.

Posted-In: News Asset Sales


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