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Ocean Rig +11% as Lundin extends drillrig contract

Published 07/17/2017, 01:59 PM
© Reuters.  Ocean Rig +11% as Lundin extends drillrig contract
ORIG
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  • Ocean Rig UDW (ORIG +11.6%) is higher after Lundin Norway renews its contract for ORIG's Leiv Eriksson semi-submersible drilling rig through Sept. 30 with options to drill two more wells in the future.
  • If fully exercised, the options would extend the contract through early 2019 with a backlog of up to $85M.
  • Lundin was granted a drilling permit for another Alta appraisal well to be drilled with the Leiv Eiriksson rig.
  • Now read: Ocean Rig Was Up 90% On No News. Should We Be Surprised?


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