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Ocean Rig UDW signs contract for the Eirik Raude

Ocean Rig UDW announced that it has signed definitive documentation, following the previously announced Letter of Intent, for one of its semi-submersible drilling rigs, the Eirik Raude, with an oil major. The drilling contract is for a one-well program, with an estimated duration of up to 6 months, for drilling offshore Ireland, with an estimated backlog of approximately $112M, including mobilization and demobilization. The rig is scheduled to commence this contract in Q2, in direct continuation from its previous contract in West Africa.