Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, announced that it has commenced a cash tender offer for any and all of its currently outstanding 9.5% Senior Unsecured Callable Notes due 2016 on the terms and subject to the conditions set forth in the company's offer to purchase dated March 10, 2014.

The tender offer will expire at 12:01 a.m., New York City time, on April 7, 2014, unless extended or earlier terminated by the company. The company reserves the right to terminate, withdraw or amend the tender offer at any time subject to applicable law.