CONTRACT TERMINATED FOR OCEAN RIG ATHENA

Ocean Rig UDW advised that the company reached an agreement with ConocoPhillips to terminate the contract of the Ocean Rig Athena. As part of the agreement, ConocoPhillips will pay a termination fee. The Ocean Rig Athena is presently en-route to its final lay-up location in Greece where the unit will be cold stacked. The drillship stated operations for ConocoPhillips offshore Angola at a dayrate believed to be up to $752,000, one of the highest ever seen. Later on the rig worked for Cairn Energy offshore Senegal. Ocean Rig Athena was delivered in 2014 by Samsung Heavy Industries in Geoje, South Korea. The Saipem 10000E UDW drillship is capable to drill in water depths up to 12,000ft. (Source: Ocean Rig UDW – Image: Cairn Energy)