Rig: Ocean Rig Apollo

Name Ocean Rig Apollo
Owner Drillship Alonissos Owners Inc.
Manager Transocean
Rig Type Drillship
Sub Type Ultradeep Water
Jackup Type --
Max Water Depth (ft) 9840
Max Drill Depth (ft) 40000
Dimensions (ft) 748 x 132 x 62
Leg Length (ft) --
Competitive Yes

Current Location

Country Canary Islands (Spain)
Region North Africa

Drilling Equipment

Drawworks Type National Oilwell Varco SSGD-1250
Drawworks HP 6900
Mud Pumps Type National Oilwell Varco 14-P-220 Triplex
Top Drive National Oilwell Varco TDX-1250
Hookload Capacity (lbs) 2500000

Rig Construction Details

Rig Design Samsung
Rig Model S10000E
Year Built 2015
Country of Build South Korea
Yard Name Geoje (Koje) Shipyard
Group Yard Name Samsung Heavy Industries (SHI)

Rig Contract Details

Operating Status Cold Stacked
Operator --


15 Feb 2016

Termination of drilling contract

TOTAL E&P Congo on February 11, 2016 has given notification to terminate for convenience the long-term contract of the 7th generation ultra-deepwater drillship Ocean Rig Apollo. As per the contract Ocean Rig is entitled to a termination fee that varies from 50% to 95% of the operating daily rate that will be payable over the balance of the contract. The Ocean Rig Apollo will demobilize from Congo in due course and is available for alternative employment. In connection with the termination of the drilling contract of the Ocean Rig Apollo, the Company has notified the agent under the respective loan agreement and is currently in discussions with its lenders about the consequences of such termination.

15 Jan 2015

Ocean Rig announces full financing for Ocean Rig Apollo

Ocean Rig UDW Inc. (NASDAQ:ORIG) ( “Ocean Rig”), a global provider of offshore deepwater drilling services, announced today that it has received firm commitments from lenders for up to a USD475 million syndicated secured term loan to partially finance the construction costs of the Ocean Rig Apollo. The facility amount is for the lesser of USD475 million and 70% of the fair market value of the drillship. This facility has a five year term, and approximate 12 year repayment profile, and bears interest at LIBOR plus a margin. This financing is led by DNB and the lending syndicate consists of DVB Bank and potentially other commercial lenders as well as the Import-Export Bank of Korea (KEXIM).

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