Ocean Rig
| Company type | Public |
|---|---|
| Industry | Offshore drilling |
| Founded | 1996 |
| Fate | Acquired by Transocean in 2018 |
| Products | Semi-submersible drilling rigs, ultra deepwater drillships |
| Owner | DryShips (majority ownership) |
Ocean Rig UDW Inc. operated semi-submersible drilling rigs and ultra deepwater drillships, with headquarters in Athens. In 2018, the company became part of Transocean through acquisition.
The firm’s fleet consisted of two semi-submersible rigs and four ultra deepwater drillships. Majority ownership was held by DryShips, a company under the control of George Economou.
History
Founded in 1996 under the name Ocean Rig ASA, the business was publicly traded on the Oslo Stock Exchange between 1997 and 2008.
In 2010, DryShips spun off its shares, leading to a listing on the NASDAQ stock exchange.
The drillship Leiv Eirikson fulfilled contracts in the Black Sea during 2011 for clients such as Petrobras and TPAO, before relocating to Arctic operations for Cairn Energy.
Ocean Rig sought bankruptcy protection in the United States in March 2017 and successfully completed its restructuring process by September that same year.
Pankaj Khanna assumed the role of President & CEO starting January 1, 2018.
Later that year, in December 2018, Transocean finalized the acquisition of Ocean Rig.
External links
- 2010 initial public offerings
- Companies formerly listed on the Nasdaq
- Companies formerly listed on the Oslo Stock Exchange
- Defunct energy companies of Norway
- 2018 mergers and acquisitions
- Transocean
- Non-renewable resource companies established in 1996
- Non-renewable resource companies disestablished in 2018
- Energy companies disestablished in 2018
- 1996 establishments in Norway
- Companies that have filed for bankruptcy in the United States
- Corporate spin-offs