Ocean Rig UDW Inc.
ORIG
NASDAQ27.78
USD
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Ocean Rig UDW Inc.
ORIG
(NASDAQ)
Recent
price
27.78
P/E
ratio
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div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Ocean Rig UDW Inc. (NASDAQ: ORIG) operates as an international offshore drilling contractor providing floating offshore drilling services to major exploration and production companies worldwide. The company owns and operates ultra-deepwater drilling rigs, including semi-submersibles and drillships, capable of operating in water depths exceeding 8,000 feet and drilling wells up to 40,000 feet deep; its fleet includes specialized vessels such as the Ocean Rig Corcovado, Ocean Rig Deepsea Delta, and others equipped with advanced dynamic positioning systems and high-pressure/high-temperature drilling capabilities. Ocean Rig focuses on harsh-environment and deepwater segments of the offshore drilling industry, serving oil majors and independent operators in target markets across the Atlantic Margin, Gulf of Mexico, Brazil, West Africa, and the Mediterranean Sea. Founded in 2007 and headquartered in Hamilton, Bermuda, the company has historically expanded through rig acquisitions and long-term contracts, with no major subsidiaries or parent relationships publicly noted in recent disclosures. In recent developments within the last two years, Ocean Rig UDW Inc. has undergone significant operational restructuring amid industry challenges, including fleet reactivation efforts and contract pursuits in recovering offshore markets; the company emerged from Chapter 11 bankruptcy protection in 2018 under new ownership, but as of 2024-2025, it reports no major new acquisitions, funding rounds, or partnerships, instead prioritizing cost efficiencies and potential rig upgrades to capitalize on rising day rates. No recent name changes, product launches, or strategic expansions beyond core drilling services have been announced.