Ocean Rig Extends BP's Option Rights for the Leiv Eiriksson

Ocean Rig has extended BP's option to exercise the two optional wells under the 2 + 2 well contract in Angola.

Ocean Rig has granted an extension for BP to exercise the two optional wells until October 31st at the original day rate. If only one optional well is exercised during October, the second optional well is extended to November 15th at a day rate 8.5% higher than the original day rate.

The contract had a start date of Octobe 1st and a net combined value of approximately US $59 million.