Profile: Diamond Offshore Drilling Inc (DO)

DO on New York Consolidated

10 Feb 2016
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Diamond Offshore Drilling, Inc., incorporated on April 12, 1989, is a company engaged in offshore drilling and providing contract drilling services to the energy industry. The Company has a fleet of 38 offshore drilling rigs, including 27 semisubmersibles, six jack-ups and five drillships. The Company's diverse fleet enables the Company to offer a range of services around the world in both the floater market (ultra-deepwater, deepwater and mid-water) and the non-floater, or jack-up, market. The Company's floater fleet (semisubmersibles and drillships) is of three types: ultra-deepwater, deepwater, and mid-water. Jack-up rigs are mobile, self-elevating drilling platforms equipped with legs that are lowered to the ocean floor. The Company's jack-ups are used for drilling in water depths from 20 feet to 350 feet. All of the Company's jack-up rigs are equipped with a cantilever system that enables the rig to extend its drilling package over the aft end of the rig.

The Company’s Ultra-Deepwater Semisubmersibles include Ocean Greatwhite, Ocean Valor, Ocean Courage, Ocean Monarch, Ocean Endeavor, Ocean Rover, Ocean Baroness, and Ocean Confidence. Its Ultra-Deepwater Drillships include Ocean BlackLion, Ocean BlackRhino, Ocean BlackHornet, Ocean BlackHawk and Ocean Clipper. The Company’s Deepwater Semisubmersibles include Ocean Apex, Ocean Onyx, Ocean Victory, Ocean America, Ocean Valiant, Ocean Star and Ocean Alliance. The Company’s Mid-Water Semisubmersibles include Ocean Worker, Ocean Patriot, Ocean General, Ocean Yorktown, Ocean Lexington, Ocean Saratoga, Ocean Guardian, Ocean Princess, Ocean Vanguard, Ocean Nomad and Ocean Ambassador.

The Company's contracts to provide offshore drilling services vary in terms and provisions. The Company typically obtains its contracts through a competitive bid process. The Company's drilling contracts generally provide for a basic fixed dayrate regardless of whether or not such drilling results in a productive well. Drilling contracts may also provide for reductions in rates during periods when the rig is being moved or when drilling operations are interrupted or restricted by equipment breakdowns, adverse weather conditions or other circumstances. Under dayrate contracts, the Company generally pays the operating expenses of the rig, including wages and the cost of incidental supplies. The Company provides offshore drilling services to oils and gas companies and government-owned oil companies.

The Company has six rigs contracted offshore Brazil and all four of newbuild drillships. The principal markets for the Company’s offshore contract drilling services are the following: South America, principally offshore Brazil, and Trinidad and Tobago; Australia and Southeast Asia, including Malaysia, Indonesia and Vietnam; the Middle East; Europe, principally in the United Kingdom, and Norway; East and West Africa; the Mediterranean, and the Gulf of Mexico, including the United States and Mexico.

Company Address

Diamond Offshore Drilling Inc

15415 Katy Fwy
HOUSTON   TX   77094-1816
P: +1713.4925300
F: +1302.6555049

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