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Contract driller Diamond Offshore has filed for bankruptcy with debts of $2.6 billion, as the energy industry is hammered by crashing oil prices. Court documents seen Monday show Houston-based ...
Anyone researching Diamond Offshore Drilling, Inc. (NYSE:DO) might want to consider the historical volatility of the...
Diamond Offshore Drilling, Inc. is an offshore drilling contractor. The company is headquartered in Katy, Texas, United States, and has major offices in Australia, Brazil, Mexico, Scotland, Singapore, and Norway. [1] It operates 15 drilling rigs including 11 semi-submersible platforms and 4 drillships. [1]
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After noticing the stability of submersible rigs when they were only partially submerged for relocation and the success of Shell's conversion of the Blue Water rig, Laborde designed and constructed the first purpose-built V-shaped semi-submersible drilling rig, Ocean Driller, delivered in 1963.
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In 1989, the company acquired Diamond M Drilling. The subsidiary acquired ODECO in 1992, adding 39 oil rigs. A year later, the combined businesses were renamed Diamond Offshore. The operating subsidiary, which went public in 1995, provides contract drilling services to the energy industry globally. [7]
Margins matter. The more Diamond Offshore Drilling (NYS: DO) keeps of each buck it earns in revenue, the more money it has to invest in growth, fund new strategic plans, or (gasp!) distribute to ...