Diamond signs LOIs for four rigs

Diamond Offshore Drilling has received Letters of Intent (LOIs) for four semisubmersible rigs that could earn the company nearly $900 million and provide six and a half rig years of work.

Offshore staff

HOUSTON -- Diamond Offshore Drilling has received Letters of Intent (LOIs) for four semisubmersible rigs that could earn the company nearly $900 million and provide six and a half rig years of work.

The LOIs include:
- Ocean Ambassador - three years, plus an un-priced option, beginning in June 2009. Maximum total revenue is $285 million
- Ocean Star - 18 months beginning in November 2008. Maximum total revenue is $285 million
- Ocean America - one year beginning in July 2009. Maximum total revenue is $190 million
- Ocean Victory - one year minimum term beginning in May 2009. Maximum total revenue is $197 million.

07/24/2008

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