Dryships Inc. Announces Signing of Two Drilling Contracts for the Ocean Rig Corcovado and the Leiv Eiriksson
ATHENS, GREECE - January 4, 2011 - DryShips Inc. (NASDAQ:DRYS) (the
"Company" or "DryShips"), a global provider of marine transportation services for
drybulk cargoes and off-shore contract drilling oil services, announced today that its
subsidiary Ocean Rig UDW Inc. has entered into firm contracts with Cairn Energy PLC
for the “Leiv Eiriksson” and the “Ocean Rig Corcovado” for a period of approximately 6
months each.
The total contract value including mobilization for the “Leiv Eiriksson” is approximately
USD 95 million. The mobilization period will start in direct continuation from the agreed
release date from Petrobras.
The total contract value including mobilization and winterization of the “Ocean Rig
Corcovado” is approximately USD 142 million.
George Economou, Chairman and Chief Executive Officer of DryShips commented:
“We are pleased to announce the signing of two new contracts with Cairn Energy for the
OceanRig Corcovado and the Leiv Eiriksson. We were able to offer the customer a
package solution due to the highly specialized nature of our semi-submersibles and also
the state of the art drillships. Following the signing of these contracts we are only left
with one open drillship, the Ocean Rig Mykonos, that delivers in the fourth quarter of
2011. We are working to secure employment for the Mykonos and also to further
increase the contract backlog. Demand for our units has improved significantly and we
hope to announce further contracts in the near future.”
About DryShips
DryShips's common stock is listed on the NASDAQ Global Select Market where it trades under the symbol "DRYS."
Visit the Company's website at www.dryships.com.
DryShips Inc.