Ocean Rig Acquires an Ultra Deepwater Drillship for $65M

Ocean Rig UDW Inc., a global deepwater drilling contractor, reported Monday that one of its subsidiaries has acquired the 6th generation ultra deepwater drillship Cerrado in an auction for $65 million, with the purchase to be funded with available cash on hand.

The drillship, which will be renamed the Ocean Rig Paros (UDW drillship) upon its delivery to Ocean Rig, was built at Samsung Heavy Industries in 2011 to similar design specifications as the firm’s existing 6th generation drillships built at Samsung. The drillship acquisition is expected to close upon completion of the judicial auction procedure.

Another Ocean Rig subsidiary has acted as the manager of the drillship for its previous owners.



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