Exclusive: Ocean Rig dismisses media writings

Following press speculation that George Economou, CEO of Ocean Rig UDW, an offshore drilling contractor, is looking to swap a drillship order for a couple of tankers, Offshore Energy Today has managed to get a response from the company.

According to media writings, due to the falling oil prices putting pressure on drilling contractors, Economou has decided to exchange an order for a drillship due for delivery in 2017, for no less than eight tankers.

However, in a response to Offshore Energy Today, an Ocean Rig spokesperson said: “Unfortunately I do not have much to say since there is no truth to these rumors.”

The response is in line with a statement we obtained from a Cowen analyst yesterday who said that the drilling contractor was not looking to swap any drillships for tankers.

Ocean Rig UDW owns and operates 13 offshore drilling rigs, eleven of which are ultra deepwater drillships, and two semi-submersible rigs. The company has four more drillships on order at the Samsung Heavy Industry yard in South Korea.

The spokesperson has also confirmed that the drillships will be delivered according to the previously announced schedule; so one in 2015, one in 2016 and the last two in 2017.

The first of the four, the Ocean Rig Apollo, would be delivered “in the next few weeks.,” the spokesperson said in an e-mail sent to Offshore Energy Today.

Offshore Energy Today Staff

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