Ocean Rig UDW (ORIG) Considers Strategic Alternatives, Including Debt Restructuring

Ocean Rig UDW (NASDAQ: ORIG) reported Q4 EPS of ($45.08), versus ($1.26) reported last year. Revenue for the quarter came in at $355.4 million, versus $475.73 million reported last year.

The Company continues to explore and consider various strategic alternatives with its financial and legal advisors, which may include a possible restructuring of the Company's debt. The Company expects that any comprehensive deleveraging plan is likely to result in significant dilution to current shareholders and potential losses for other financial stakeholders. If a consensual solution cannot be reached among all stakeholders, the Company will consider all available options including implementation of a restructuring plan through schemes of arrangement or under Chapter 11.

For earnings history and earnings-related data on Ocean Rig UDW (ORIG) click here.

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