Diamond scraps six offshore drilling rigs, adds five in year

Offshore staff

HOUSTON – Diamond Offshore has added three drillships and two deepwater semisubmersible drilling rigs in 2014. It plans to take delivery of another drillship and to order a harsh-environment semi this year.

For the full year 2014, Diamond Offshore reported net income of $387 million compared to net income of $549 million in 2013. Full year 2014 results included a $0.95 per share non-cash impairment charge related to the retirement and scrapping of the six mid-water semisubmersible rigs.

“In 2014, we took delivery of three newbuild drillships and two deepwater semis, and in the first quarters of 2015 and 2016, respectively, we expect to take delivery of our fourth newbuild drillship and a newbuild harsh environment semisubmersible. All of our newbuild units have attractive term contracts in place,” said Marc Edwards, president and CEO, in releasing the company’s annual report.

02/26/2015

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