Ocean Rig lines up customer trio

Three contracts: Ocean Rig said conditional agreements will boost balance sheets

Ocean Rig said it lined up $2.2 billion in conditional future contracts in the second quarter but still dipped into the red on costs including unfavourable interest rate swaps.

The Cyprus-based driller on Thursday posted a net loss of $2.8 million in the three months to June. That compared to a $17.6 million loss in the same period a year ago.

"We have repeatedly stated our belief in the strength of the ultra deepwater market fundamentals and finally we can report the signing of letters of intent with three major oil companies for three of our drillships, including two of our newbuildings," chief executive George Economou said in a statement.

"Assuming these contracts materialise, our total backlog will nearly double from $2.6…

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