NICOSIA: In 3Q15, Ocean Rig’s (ORIG) revenue was $437 million. It was just 1% higher than $433 million in the previous quarter. The company experienced fewer operating days in the third quarter as compared to the corresponding period last year. This negatively impacted the revenue by 15% in 3Q15 as compared to 3Q14.
Ocean Rig’s revenue depends on two ultra-deepwater drilling rigs and eight drillships. The company doesn’t operate any jack-ups in contrast to other offshore drillers (IYE)(XLE) like Seadrill (SDRL), Ensco (ESV), Rowan Companies (RDC), and Diamond Offshore (DO).
