Diamond Offshore marketing three third-party drillships for deepwater assignments

May 9, 2024
Diamond Offshore has secured marketing rights for three 7th generation drillships, the company revealed in its latest results statement.

Offshore staff

HOUSTON — Diamond Offshore has secured marketing rights for three 7th generation drillships, the company revealed in its latest results statement.

The agreement with the owner of the West Dorado and West Draco involves marketing both for work in offshore Brazil and elsewhere in Latin America, West Africa, Malaysia and Indonesia.

In addition, Diamond will market the drillship Tidal Action (ex-West Libra) on behalf of its owner in the US Gulf of Mexico (GoM).

During first-quarter 2024, Diamond netted $713 million in new work, including two-year contract extensions for the Ocean BlackLion and Ocean BlackHornet in the US GoM and further P&A work for the Ocean Patriot for Serica Energy in the UK North Sea, currently underway. 

Post-quarter-end, the company signed a one-well, 30-day contract for the Ocean BlackRhino which should start later this year following the rig’s special periodical survey and a managed pressure drilling upgrade.

The Ocean Patriot completed its campaign for Repsol before transferring to Serica. The Ocean GreatWhite, having safely recovered the LMRP from the seabed, arrived in the Kishorn port in western Scotland in mid-March for repairs.

It should be back at the well location during the first half of June.

Diamond President and CEO Bernie Wolford, Jr. said, “The demand landscape remains compelling for our business. The high-specification deepwater rig supply-demand balance continues to tighten, which is resulting in strong contracting conditions that have already begun to benefit our fleet.

“The average contract day rate across our fleet will notably increase as we transition to our recently awarded contracts."

05.09.2024

Courtesy SBM Offshore / GustoMSC via aukevisser.nl
Courtesy Valeura Energy Inc. Corporate Overview May 2024