Diamond Offshore Drilling, Inc. is an American deepwater drilling contractor, based in Houston, Texas, that provides drilling services to the energy industry.
The company has a fleet of 45 offshore drilling rigs, of which 33 are semisubmersibles.
It focuses on providing services in the floater market (ultra-deepwater, deepwater and mid-water) and the non-floater market.
Diamond Offshore Drilling’s mission is “to exceed customer expectations and continually set the standard of excellence as we assist our customers in their worldwide efforts to discover and produce offshore petroleum resources.”
Diamond Offshore was incorporated in Delaware in 1989 and went public on the New York Stock Exchange (NYSE) in October 1995 under the stock ticker symbol ‘DO’.
Diamond Offshore’s predecessor companies were ODECO, Zapata Corporation, and Diamond M Drilling Co.
Overview
- Chairman: James S. Tisch
- CEO: Lawrence R. Dickerson
- CFO: Gary T. Krenek
- Type: Public
- Industry: Diamond/Oil/Gas Drilling
- Publicly listed on the New York Stock Exchange (NYSE)
- NYSE stock ticker symbol: DO
- S&P 500 Component
- Revenue: $2.920 billion USD (2013)
- Net income: $548 million USD (2013)
- Diluted earnings per share: $3.95 USD (2013)
- Employees: 5,500 (2013)
- Corporate headquarters: 15415 Katy Freeway, Houston, Texas 77094, USA
- Corporate contact number: (281) 492-5300
- Investor relations contact number: (281) 492-5370
- Investor relations email: [email protected]
- Website: http://www.diamondoffshore.com/
| Operating data (in $ thousands) | 2013 | 2012 |
| Contract drilling revenue | $2,843,584 | $2,936,066 |
| Revenues related to reimbursable expenses | $76,837 | $50,442 |
| Net revenue | $2,920,421 | $2,986,508 |
| Contract drilling expense, excluding depreciation | $1,572,525 | $1,537,224 |
| Depreciation | $388,092 | $392,913 |
| Total operating expenses | $2,118,815 | $2,024,130 |
| Operating income | $801,606 | $962,378 |
| Income before income tax expense | $774,240 | $918,081 |
| Income tax expense | $(225,554) | $(197,604) |
| Net income | $548,686 | $720,477 |
| Comprehensive income | $546,540 | $727,615 |
| Balance sheet data (in $ thousands) | ||
| Total assets | $8,391,434 | $7,235,286 |
| Total liabilities | $3,754,176 | $2,658,892 |
| Total stockholders’ equity | $4,637,258 | $4,576,394 |
| Cash flow data (in $ thousands) | ||
| Net cash provided by operating activities | $1,065,988 | $1,311,269 |
| Net cash used in investing activities | $(1,552,075) | $(815,718) |
| Net cash used in financing activities | $497,666 | $(493,884) |
| Cash and cash equivalents at end of period | $347,011 | $335,432 |
| Common share data (in $) | ||
| Basic earnings (loss) per common share | $3.95 | $5.18 |
| Diluted earnings (loss) per common share | $3.95 | $5.18 |
Source: “Diamond Offshore 2013 Annual Report”