May 22, 2013, Nicosia, Cyprus. Ocean Rig UDW Inc.
(NASDAQ: ORIG), or Ocean Rig or the Company, an
international contractor of offshore deepwater
drilling services today announced its unaudited
financial and operating results for the first quarter
ended March 31, 2013.

First Quarter 2013 Financial Highlights

For the first quarter of 2013, the Company
reported a net income of $6.4 million, or $0.05 basic
and diluted earnings per share.


The Company reported Adjusted EBITDA of $104.7
million for the first quarter of 2013, as compared to
$50.7 million for the first quarter of 2012.(1)

Recent Events

- On February 28, 2013, the Company signed
definitive documentation for a $1.35 billion
syndicated secured term loan facility to partially
finance the construction costs of the newbuilding
drillships Ocean Rig Mylos, Ocean Rig Skyros and Ocean
Rig Athena, scheduled for delivery in August 2013,
October 2013 and November 2013, respectively. The
facility has a five-year term and a repayment...