DIAMOND OFFSHORE DRILLING, INC.
diamondoffshore.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed Aug 7, 2024. Its latest SEC filing is a SC 13G/A from Nov 12, 2024.
10-Q for Q2 FY2024, filed Aug 7, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Provides offshore contract drilling services to major and independent oil and gas companies and government-owned oil companies around the world.
10-K for FY2023, filed Feb 28, 2024
How Did They Make Money?
Oil and gas companies pay for offshore drilling rigs and crews by the day, with rates varying according to the work being done; contracts typically last for a well or a set period. The company may also receive fees for extra services and customer-requested supplies.
10-K for FY2023, filed Feb 28, 2024Our contracts to provide offshore drilling services vary in their terms and provisions. We typically obtain our contracts through a…View ↗
The duration of a dayrate drilling contract is generally tied to the time required to drill a single well or a group of wells, which we…View ↗
Our contracts with customers provide for an offshore drilling rig and drilling services on a dayrate contract basis. The integrated…View ↗
Dayrate Drilling Revenue. Our drilling contracts generally provide for payment on a dayrate basis, with higher rates for periods when the…View ↗
Revenues Related to Reimbursable Expenses. We generally receive reimbursements from our customers for the purchase of supplies, equipment…View ↗
$1.1B
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10-K for FY2023, filed Feb 28, 2024
$1.1B ↗
Who Were Their Customers?
The company typically wins drilling contracts through competitive bids, though some are awarded after direct negotiations.
10-K for FY2023, filed Feb 28, 2024Our contracts to provide offshore drilling services vary in their terms and provisions. We typically obtain our contracts through a…View ↗
10-K for FY2023, filed Feb 28, 2024
Successor Predecessor Year Ended Period from Period from December 31, April 24, 2021 through January 1, 2021 through 2023 (1) 2022 (1)…View ↗
Did Revenues Turn Into Profits?
No. It lost $44.7M in FY2023.
10-K for FY2023, filed Feb 28, 2024
$51.1MView ↗
10-K for FY2023, filed Feb 28, 2024
−$44.7MView ↗
10-K for FY2023, filed Feb 28, 2024
−$119.7MView ↗
How Were They Changing?
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Sep 4, 2024
Noble completed its acquisition of Diamond Offshore
Diamond shareholders received cash and Noble shares under the merger consideration.
Sources
8-K, filed Sep 4, 2024
Item 2.01 Completion of Acquisition or Disposition of Assets.View ↗
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Jun 10, 2024
Diamond agreed to be acquired by Noble
The merger agreement provided cash and Noble shares to Diamond shareholders, subject to closing conditions.
Sources
8-K, filed Jun 10, 2024
On June 9, 2024, Diamond Offshore Drilling, Inc., a Delaware corporation (“Diamond Offshore”), entered into an Agreement and Plan of Merger…View ↗
Held flat. Revenue was $1.1B in FY2023, about the same as the $980.6M of FY2019.
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