Ocean Rig UDW Inc. , a global provider of offshore de epwater drilling services , announced the closing of the previously disclosed agreement with Dryships Inc. to settle the remaining outstanding balance of $80 million borrowed by Dryships under the Amended and Restated Exchangeab le Promiss ory Note dated June 4, 2015 between the Company and Dryships (the “Note”) . Definitive documentation including release letters has been executed, and Dryships has transferred 17,777,778 shares of Ocean Rig previously owned by Dryships to Ocean Rig as full p ayment of the outstanding balance under the Note . Following this transfer, Dryships’ direct ownership in Ocean Rig is 40.4 %.
About Ocean Rig UDW Inc.
Ocean Rig is an international offshore drilling contractor providing oilfield services for offshore oil and gas exploration, development and production drilling, and specializing in the ultradeepwater and harsh - environment segment of the offshore drilling industry. The Company owns and operates 13 offshore ultra deepwater drilling units, comprising of 2 ultr a deepwater semisubmersible drilling rigs and 11 ultra deepwater drillships , 1 of which is scheduled to be delivered to the Company during 2016 , 1 of which is sched uled to be delivered during 2018 and 1 of which is scheduled to be delivered during 2019.