Ocean Rig UDW Inc. (NASDAQ:ORIG), (Ocean Rig), an international contractor of offshore deepwater drilling services, Monday announced that it has signed a new drilling contract with Tullow Namibia Ltd., for a one-well drilling program plus options for drilling offshore West Africa.

Ocean Rig UDW Inc. announces new drilling contract for the Ocean Rig Poseidon
Caption: Drillship Ocean Rig Poseidon - Image courtesy of Ocean Rig

The contract is expected to commence in the third quarter of 2018 and to be performed by the Ocean Rig Poseidon.

Mr. Pankaj Khanna, President and Chief Executive Officer of the Company, commented: “We are pleased to announce additional work for the Ocean Rig Poseidon. The rig is currently transiting to Walvis Bay, where it will remain in “ready-to-drill” state and continue to be actively marketed for employment.”

Source: Ocean Rig