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Shortly thereafter, Diamond M Corp. briefly changed its name to Diamond M-ODECO Drilling Inc. before becoming Diamond Offshore Drilling, Inc. in 1993. [5] In October 1995, the company once again became a public company via an initial public offering, listing on the New York Stock Exchange. [6] In April 1996, the company acquired Arethusa for ...
Exploration diamond drilling differs from other geological drilling (such as Reverse Circulation (RC) Drilling [3]) in that a solid core is extracted from depth, for examination on the surface. The key technology of the diamond drill is the actual diamond bit itself. [4] It is composed of industrial diamonds set into a soft metallic matrix.
The most common cutting element in use today is the polycrystalline diamond cutter (PDC), a sintered tungsten carbide cylinder with one flat surface coated with a synthetic diamond material. The cutters are arranged on the blades of the bit in a staggered pattern with the diamond coated cutter surface facing the direction of bit rotation to ...
The company was founded in 1900 by Chris Schramm. It originally manufactured portable air compressors, before switching to rotary drilling rigs in the 1950s.Dick Schramm, who began working for the family business as a manufacturing engineer in 1961, worked his way up the ranks to become President of the company in 1985. [6]
In 1903 the Wright Brothers had the company design special chains which they used to make their historic first airplane flight at Kitty Hawk. [6] In 1905 the company was then sold to Lucius Wainwright who had been managing the business. The company was renamed Diamond Chain & Manufacturing Company. Automobiles were becoming popular and the ...
[citation needed] The marquise can be cut into an oval diamond by any diamond cutter with a loss of 5 to 10% in total weight. [citation needed] For example, a 1.10-carat marquise shape would be a 1.00 oval cut diamond by rounding the sharp points and creating an oval which currently in the market has a much greater desirability and resale value ...
Precision Drilling Ltd. was founded in 1951. [4] In 1987, Precision Drilling was acquired by Cypress Drilling, led by president Hank Swartout, in a reverse takeover which left the company with a fleet of 19 rigs. [5] Swartout led the company through extensive growth until his retirement in 2007. [6]
In May 2013, the company sold Tender rigs T-15, T16 and the West Vencedor to Seadrill Partners LLC. [9] In June 2013, the company acquired a majority interest in Sevan Drilling. [10] In November 2014, the company suspended dividend payments as a result of a downturn in the industry. [11] In December 2017, the company filed bankruptcy. [12] [13 ...