Ocean Rig UDW (ORIG) Posts Solid Q1 Results

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Go back to Ocean Rig UDW (ORIG) Posts Solid Q1 Results

Ocean Rig UDW Inc. Reports Financial and Operating Results for the First Quarter 2016

May 19, 2016 4:05 PM EDT

NICOSIA, CYPRUS -- (Marketwired) -- 05/19/16 -- Ocean Rig UDW Inc. (NASDAQ: ORIG), or 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 March 31, 2016.

First Quarter 2016 Financial Highlights

For the first quarter of 2016, the Company reported a net income of $288.0 million, or $2.07 basic and diluted earnings per share. Included in the first quarter 2016 results are: Non-cash gains associated with the purchase of the 7.25% Senior Unsecured Notes due 2019 and the 6.5% Senior Secured Notes due 2017... More