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Diamond Offshore Drilling Inc.

Diamond Offshore Profit Beats

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a better-than-expected adjusted profit as the company cut costs and secured higher rates for its upgraded fleet.The company - owned 50.4 percent by hotel, energy and financial services conglomerate Loews Corp - also said it would pay a special quarterly cash dividend of 75 cents per share on top of its regular dividend of 13 cents.Chief Executive Marc Edwards, a former Halliburton Co executive who took over at Diamond in February, said the company's added capacity and upgraded fleet put it in a strong position to navigate through any downturn.Demand for contract drilling is softening as vessels ordered during boom times are delivered just as energy companies tighten spending on offshore exploration.Analysts expect only a modest recovery in demand in the second half of 2014, with rig utilization staying below 2013 levels.Utilization rates for Diamond Offshore's ultra-deepwater rigs fell to 66 p...

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  3. Diamond Offshore 4th-Quarter Net Falls 17% Amid Lower Day Rates

    Diamond Offshore Drilling Inc.'s (DO) fourth-quarter earnings fell 17% as lower day rates dampened improved utilization of ultradeep-water and midwater floaters.Resu...

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    Loews Corp.'s (L) third-quarter earnings rose 9.3% as profit surged at its CNA Financial Corp. (CNA) insurance unit, outweighing a large impairment charge related to...

  6. Diamond, Noble see deepwater rig demand strong for years

    Recent deals struck by Diamond Offshore Drilling Inc and Noble Corp paint a picture of a market in which deepwater oil rigs will be in high demand for years, while o...

  7. Diamond Offshore profit beats on lower costs

    Diamond Offshore Drilling Inc , one of the world's top-five offshore rig contractors, reported a better-than-expected profit on lower operating costs.Net profit fell...

  8. Diamond Offshore 3rd-Quarter Net Falls 31% on Lower Day Rates

    Diamond Offshore Drilling Inc.'s (DO) third-quarter earnings fell 31% as the contract driller's revenue decline continued amid lower day rates.Diamond Offshore, whic...

  9. Diamond Offshore profit falls on lower rig utilization rates

    Diamond Offshore Drilling Inc , one of the world's top-five offshore rig contractors, reported a 31 percent drop in quarterly profit as utilization rates fell.Diamon...

  10. Sembcorp Marine: Unit Gets US$135 Million Rig Order From Diamond Offshore

    Sembcorp Marine Ltd. (S51.SG) Wednesday said its unit has secured a contract worth US$135 million to build a rig for Diamond Offshore Drilling Inc. (DO).Jurong Shipy...

  11. Diamond Offshore Drilling's 2Q Results: Postgame Scorecard

    As revenue dropped, Diamond Offshore Drilling's (NYSE:DO) net income fell in the most recent quarter.Earnings and Revenue The company's EPS topped estimates and reve...

  12. Diamond Offshore Drilling 2Q Earnings Pregame Scorecard

    Diamond Offshore Drilling (NYSE:DO) has beaten analyst's estimates in each of the last five quarters and will try to do so again on Thursday, July 19, 2012.Expectati...

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