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Summary Financials: Year Ended Nine Months Ended December 31, 2011 September 30, 2012 ----------------- ------------------(Dollars in thousands)Total revenue $ $ 267,800Adjusted EBITDA 106,682Total assets 1,342,648 1,289,789Total debt, net of financing fees (519,731) (780,415)Shareholders equity (730,198) (452,558)Total cash and cash equivalents 41,669 66,200Capital expenditures (1) $ (20,065) $ (19,712)(1) Capital expenditures represent additions to fixed assets in addition to items expensed for the Leiv Eiriksson and Eirik Raude class survey amounting to $0 and $21.6 million, respectively.Adjusted EBITDA reconciliation: Three Months Ended Nine Months Ended(Dollars in thousands) September 30, September 30, ------------------- ------------------ 2011 2012 2011 2012 --------- -------- -------- --------Net income/ (loss) $ 36,833 (6,947) 99,746 87Add: Net interest expense 11,813 10,292 16,783 23,566Add: Depreciation and amortization 18,723 17,799 56,219 55,205Add: Income taxes 668 4,775 3,550 6,245Add: Class survey costs - 16,773 15,258 21,579 --------- -------- -------- --------Adjusted EBITDA $ 68,037 42,692 191,556 106,682 ========= ======== ======== ========
Conference Call and Webcast: November 15, 2012
As announced, the Company's management team will host a conference call, on Thursday, November 15, 2012 at 8:00 a.m. Eastern Standard Time to discuss the Company's financial results.
Conference Call Details
Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1(866) 819-7111 (from the US), 0(800) 953-0329 (from the UK) or +(44) (0) 1452 542 301 (from outside the US). Please quote "Ocean Rig"
A replay of the conference call will be available until November 22, 2012. The United States replay number is 1(866) 247-4222; from the UK 0(800) 953-1533; the standard international replay number is +(44) (0) 1452 550 000 and the access code required for the replay is: 55592075#.
A replay of the conference call will also be available on the Company's website at www.ocean-rig.com under the Investor Relations section.
Slides and audio webcast:
There will also be a simultaneous live webcast over the Internet, through the Ocean Rig UDW Inc. website www.ocean-rig.com. Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.
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 ultra-deepwater and harsh-environment segment of the offshore drilling industry. The company owns and operates 10 offshore ultra deepwater drilling units, comprising of 2 ultra deepwater semisubmersible drilling rigs and 8 ultra deepwater drillships, 3 of which remain to be delivered to the company during 2013 and 1 during 2015.
