Diamond Offshore signs GoM floater contract

Offshore staff

Diamond Offshore Drilling, Inc. has signed a term contract for one year, plus option, on the 4th generation rigOcean America for work in the Gulf of Mexico. The contract will begin in November 2005 and provide maximum total revenue of $84 million.

"The addition of this contract to the seven signed and pending contracts we announced earlier this week further augments our stream of future revenue and cash flow into 2006, while the relatively short term of the contract will afford continuing participation in future market movement," Larry Dickerson, president and COO, says.

6/01/05