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DIAMOND OFFSHORE DRILLING (DO) Stocks

ABOUT DIAMOND OFFSHORE DRILLING

📊 Diamond Offshore Drilling, Inc. is an offshore drilling company. Its portfolio offers drilling services to energy markets world-wide. Diamond Offshore has 16 offshore drilling rigs which includes 4 dynamically positioned drill ships and 12 semi submersibles. 

📊 It is a leader in its field and well-known for quality and precision operations.

📊 Diamond Offshore Drilling, Inc. has more than 2 500 employees and is headquartered in Houston, Texas.

HISTORY OF DIAMOND OFFSHORE DRILLING

  • In 1953 Alden J. Laborde founds Ocean Drilling and Exploration Co. in New Orleans.
  • In 1954 it designs one of the first submersible drilling rigs. In 1964 Don McMahon buys a failed onshore drilling company and names it Diamond M Drilling Co. In 1970 Ocean Drilling and Exploration Co. becomes a public company and expands into offshore markets.
  • It now drill on land and offshore. In the early 1990’s Diamond buys all of Ocean Drilling and Exploration’s outstanding stock from a subsidiary of Murphy Oil for a price of $ 372 million. It adds 39 rigs, including 14 jack-ups, 2 submersibles, 19 semi-submersibles, 1 drillship and 3 platform units, to its portfolio.
  • In 1993 the company changes its name to Diamond Offshore Drilling, Inc.
  • The company buys Arethusa (Offshore) Ltd. in 1996, adding 3 jack-up rigs and 8 semi-submersibles to its portfolio. The same year DI Industries, Inc. purchases the company’s land business, Diamond M Onshore. By 2013 Diamond Offshore Drilling owns 32 semi-submersibles, 4 dynamically positioned drill ships and 13 jack-up rigs.

VISION & VALUES OF DIAMOND OFFSHORE DRILLING

  • Diamond Offshore Drilling, Inc.’s goal is to deliver solutions to challenging deep-water operations. The company’s vision is to provide the world with safe and reliable energy while operating responsibly. It takes ownership of its responsibilities, takes a challenge head-on and go above and beyond for its customers and shareholders.
  • Wise investments are made and excellent operational performance is accomplished. These investments are made in its fleet, as well as talented team members and employee training. Diamond Offshore has a strong balance sheet that provide financial strength and offer positive earnings to its shareholders.
  • Diamond Offshore Drilling, Inc. is committed to the health and safety of its employees, environment and communities. It follows a Health, Safety and the Environment program that forms part of the company’s decision making. These programs ensure the safety of its employees and protects natural resources and communities.

MARKET PERFORMANCE OF DIAMOND OFFSHORE DRILLING

  • Diamond Offshore Drilling, Inc. trades on the New York Stock Exchange under the NYSE stock symbol “DO”.
  • Data analysis for the company’s quarterly period ending June 30, 2019 reports total revenues of $ 216,706 thousand. Total assets are $ 5,977,236 thousand and total operating expenses are $ 328,206 thousand. Cash and cash equivalents are $ 147,509 thousand.
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