Diamond Offshore Drilling Inc
(NYSE: DO)
68.53
+0.32
+0.47%
+0.32
+0.47%
MORE ON DO
COMPANY INFORMATION
| Exchange: | New York Stock Exchange |
| Stock: | Diamond Offshore Drilling, Inc. |
| Industry: | Oil & Gas Drilling |
| Employees: | 5,300 |
DESCRIPTION
| Diamond Offshore Drilling, Inc. was incorporated in Delaware in 1989. It is a global offshore oil and gas drilling contractor with a current fleet of 49 offshore rigs consisting of 32 semisubmersibles, 13 jack-ups and four drillships. Semisubmersible rigs consist of an upper working and living deck resting on vertical columns connected to lower hull members. Drillships, which are typically self-propelled, are positioned over a drillsite through the use of either an anchoring system or a dynamic positioning system similar to those used on certain semisubmersible rigs. The Company long-term strategy has been to economically upgrade its fleet to meet customer demand for advanced, efficient, high-tech rigs, particularly deepwater semisubmersibles, in order to maximize the utilization of, and dayrates earned by, the rigs in its fleet. It provides offshore drilling services to a customer base that includes major and independent oil and gas companies and government-owned oil companies. It principally markets its services in North America through its Houston, Texas office. It markets its services in other geographic locations principally from its office in The Hague, The Netherlands with support from its regional offices in Aberdeen, Scotland and Perth, Australia. It provides technical and administrative support functions from its Houston office. The offshore contract drilling industry is highly competitive with numerous industry participants, none of which at the present time has a dominant market share. The offshore contract drilling industry is influenced by a number of factors, including global economies and demand for oil and natural gas, current and anticipated prices of oil and natural gas, expenditures by oil and gas companies for exploration and development of oil and natural gas and the availability of drilling rigs. The Company’s operations are subject to numerous international, U.S., state and local laws and regulations that relate directly or indirectly to its operations, including regulations controlling the discharge of materials into the environment, requiring removal and clean-up under some circumstances, or otherwise relating to the protection of the environment, and may include laws or regulations pertaining to climate change, carbon emissions or energy use. |
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