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

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

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

February 22, 2017 6:00 PM EST

GRAND CAYMAN, CAYMAN ISLANDS -- (Marketwired) -- 02/22/17 -- 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 December 31, 2016.

Fourth Quarter 2016 Financial Highlights

For the fourth quarter of 2016, the Company reported a net loss of $3,711.6 million, or $45.08 basic and diluted loss per share. The fourth quarter 2016 results include an impairment loss of $3,751.2 million, or $45.56 per share, associated with the impairment of the book value of the Company's... More