Diamond Offshore Drilling, Inc. provides contract drilling services to the energy industry worldwide. As of December 31, 2021, the company operated a fleet of 12 offshore drilling rigs, including four drillships and eight semisubmersible rigs. It serves independent oil and gas companies, and government-owned oil companies. The company was founded in 1953 and is headquartered in Houston, Texas.
IPO Year: 2022
Exchange: NYSE
Website: https://www.diamondoffshore.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/28/2023 | $20.00 | Overweight | CapitalOne |
| 9/5/2023 | $20.00 | Buy | BTIG Research |
SUGAR LAND, Texas, Aug. 30, 2024 /PRNewswire/ -- Noble Corporation plc ("Noble") (CSE:NOBLE, NYSE:NE) and Diamond Offshore Drilling, Inc. ("Diamond Offshore") (NYSE:DO) announced today the receipt of clearance from the Australia Competition & Consumer Commission, in relation to the pending transaction between Noble and Diamond Offshore, which is the final required regulatory approval for the transaction. The parties expect to close the transaction on Wednesday September 4th, 2024. About Noble Corporation plcNoble is a leading offshore drilling contractor for the oil and gas industry. The Company owns and operates one of the most modern, versatile, and technically advanced fleets in the of
$350 Million in Contract Awards in Q2; $89 Million in Contract Awards Post-Q2Q2 Adjusted EBITDA of $58 Million $8.7 Million in Performance Bonuses Earned during Q2 in Senegal Ocean GreatWhite Completes Repairs and Resumes OperationsHOUSTON, Aug. 6, 2024 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE:DO) today reported the following results for the second quarter of 2024: Three Months Ended Thousands of dollars, except per share data June 30, 2024 March 31, 2024 Total revenues $ 252,886 $ 274,610 Operating income 28,282 21,813 Net income 9,328 11,612 Income per diluted share 0.09 0.11 Adjusted operating income 33,428 31,813 Adjusted EBITDA (1) 58,020 64,163 Adjusted net income 12,189 2
SUGAR LAND, Texas, July 25, 2024 /PRNewswire/ -- Noble Corporation plc ("Noble") (CSE:NOBLE, NYSE:NE) and Diamond Offshore Drilling, Inc. ("Diamond") (NYSE:DO) announced today that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, in relation to the pending merger between Noble and Diamond, expired at 11:59 ET on July 24, 2024. Completion of the transaction is subject to the satisfaction of the remaining customary closing conditions, including approval by Diamond's stockholders and the receipt of informal clearance by the Australian Competition & Consumer Commission. A special meeting of Diamond stockholders to vote on the transaction is currently scheduled
HOUSTON, July 18, 2024 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE:DO) today announced that it has entered into a contract with BOE Exploration & Production LLC for the Ocean BlackRhino for work in the U.S. Gulf of Mexico. The Ocean BlackRhino was awarded a contract with a minimum duration of 180 days for a total value of approximately $89 million, excluding mobilization and any additional services. The contract also includes two additional option periods. Work under the new contract is expected to commence late in the first quarter or early second quarter of 2025. Bernie Wolford, Jr., President and Chief Executive Officer, commented, "This contract reflects the BlackRhino's except
HOUSTON, July 17, 2024 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE:DO) announced today that it will release its second quarter 2024 operating results on Tuesday, August 6, 2024 after the market closes. The company will not hold a conference call as a result of entering into the definitive merger agreement announced on June 10, 2024, providing for Diamond to be acquired by Noble Corporation plc, subject to shareholder and regulatory approvals and other customary closing conditions. ABOUT DIAMOND OFFSHOREDiamond Offshore is a leader in offshore drilling, providing innovation, thought leadership and contract drilling services to solve complex deepwater challenges around the globe. Ad
SUGAR LAND, Texas, June 10, 2024 /PRNewswire/ -- Noble Corporation plc ("Noble") (CSE:NOBLE) (NYSE:NE) and Diamond Offshore Drilling, Inc ("Diamond") (NYSE:DO) announced today that they have entered into a definitive merger agreement under which Noble will acquire Diamond in a stock plus cash transaction. As part of the transaction, Diamond shareholders will receive 0.2316 shares of Noble, plus cash consideration of $5.65 per share for each share of Diamond stock, representing an 11.4% premium to closing stock prices on June 7, 2024. Upon closing, Diamond shareholders will own approximately 14.5% of Noble's outstanding shares. Noble's President and Chief Executive Officer, Robert Eifler, sa
HOUSTON, May 15, 2024 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE:DO) today announced that it has executed a two-year contract extension with Anadarko Petroleum Corporation, a wholly-owned subsidiary of Occidental, in the U.S. Gulf of Mexico for the Ocean BlackHawk, commencing in November 2024 in direct continuation of the rig's current contract. This contract extension represents approximately $350 million dollars of additional backlog, excluding any managed pressure drilling services, and replaces the one-year priced option that was agreed in May 2023. Anadarko retains three one-year unpriced options. Bernie Wolford, Jr., President and Chief Executive Officer, commented, "This ex
Secured $731 million in contract awards year to date, including $713 million in Q1Total backlog was $1.9 billion as of April 1, 2024Ocean GreatWhite repairs progressing well; expected back on location in the first half of JuneSecured marketing rights for 3 high-specification 7th generation drillshipsHOUSTON, May 7, 2024 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE:DO) today reported the following results for the first quarter of 2024: Three Months Ended Thousands of dollars, except per share data March 31, 2024 December 31, 2023 Total revenues $ 274,610 $ 297,637 Operating income 21,813 44,915 Net income (loss) 11,612 (145,702) Income (loss) per diluted share 0.11 (1.42) Adjusted op
HOUSTON, April 17, 2024 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE:DO) announced today that it will release its first quarter 2024 operating results on Tuesday, May 7, 2024 after the market closes. The Company has scheduled a conference call and webcast for Wednesday, May 8, 2024 at 8:00 a.m. CDT to discuss the Company's results of operations. ABOUT DIAMOND OFFSHOREDiamond Offshore is a leader in offshore drilling, providing innovation, thought leadership and contract drilling services to solve complex deepwater challenges around the globe. Additional information and access to the Company's SEC filings are available at http://www.diamondoffshore.com/. Contact:Kevin BordoskySenior
HOUSTON, March 3, 2024 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE:DO) today announced that it has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the Ocean BlackHornet, commencing in February 2025 in direct continuation of the rig's current contract. This contract extension represents approximately $350 million dollars of additional backlog. Bernie Wolford, Jr., President and Chief Executive Officer, commented, "This contract deepens our relationship with a key client in the U.S. Gulf of Mexico and is a testament to the
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CapitalOne initiated coverage of Diamond Offshore with a rating of Overweight and set a new price target of $20.00
BTIG Research initiated coverage of Diamond Offshore with a rating of Buy and set a new price target of $20.00
The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, but the index remained in the “Neutral” zone on Monday. U.S. stocks settled higher on Monday, with the S&P 500 closing at fresh record level. All the three major indices recorded gains last week, with the Dow Jones index gaining 0.29% and the S&P 500 rising around 1.32% during the week. Investors are awaiting the Federal Reserve's interest-rate decision and consumer price index, due on Wednesday. Diamond Offshore Drilling, Inc. (NYSE:DO) shares jumped around 11% on Monday after the company disclosed that it signed a definitive agreement to be acquired by Noble Corporation plc (NYSE:NE) in a s
U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite edging lower on Monday. The Dow traded up 0.11% to 38,842.27 while the NASDAQ fell 0.04% to 17,125.62. The S&P 500 also rose, gaining, 0.04% to 5,349.38. Check This Out: Wall Street’s Most Accurate Analysts Weigh In On 3 Energy Stocks With Over 7% Dividend Yields Leading and Lagging SectorsUtilities shares climbed by 1.4% on Monday. In trading on Monday, financial shares fell by 0.3%. Top Headline Diamond Offshore Drilling, Inc. (NYSE:DO) disclosed that it signed a definitive agreement to be acquired by Noble Corporation plc (NYSE:NE) in a stock-plus-cash transaction. Equities Trading UP
Shares of Skye Bioscience, Inc. (NASDAQ:SKYE) fell sharply during Monday's session after the company announced its SBI-100 Ophthalmic Emulsion Phase 2a trial did not achieve target product profile and has discontinued the program. Skye Bioscience shares tumbled 18.9% to $8.87 on Monday. Here are some other stocks moving in today’s mid-day session. Gainers Big Tree Cloud Holdings Limited (NASDAQ:DSY) shares jumped 123% to $4.3001 following the completion of the company’s business combination with Plutonian Acquisition Corp. and amid continued volatility following its Nasdaq debut last week. KWESST Micro Systems Inc. (NASDAQ:KWE) gained 79.8% to $0.7082 after the company was aw
U.S. stocks traded mixed midway through trading, with the Dow Jones index falling around 0.1% on Monday. The Dow traded down 0.06% to 38,774.90 while the NASDAQ rose 0.28% to 17,180.62. The S&P 500 also rose, gaining, 0.11% to 5,352.67. Check This Out: Wall Street’s Most Accurate Analysts Weigh In On 3 Energy Stocks With Over 7% Dividend Yields Leading and Lagging SectorsEnergy shares climbed by 1.3% on Monday. In trading on Monday, financial shares fell by 0.6%. Top Headline Diamond Offshore Drilling, Inc. (NYSE:DO) disclosed that it signed a definitive agreement to be acquired by Noble Corporation plc (NYSE:NE) in a stock-plus-cash transaction. Equities Trading UP
U.S. stocks were mixed, with the Dow Jones index falling around 0.2% on Monday. Shares of ICC Holdings, Inc. (NASDAQ:ICCH) rose sharply during Monday's session. Mutual Capital Group announced plans to acquire ICC Holdings, Inc. for $23.50 per share in a $73.8 million transaction. ICC Holdings shares jumped 43% to $22.03 on Monday. Here are some other big stocks recording gains in today’s session. QXO, Inc. (NASDAQ:QXO) climbed 28.6% to $283.00. Opera Limited (NASDAQ:OPRA) shares gained 22% to $16.83. Ivanhoe Electric Inc. (NYSE:IE) rose 18% to $10.74. iLearningEngines, Inc. (NASDAQ:AILE) surged 17.5% to $5.58. Cactus, Inc. (NYSE:WHD) surged 13.6% to $53.19. SEA
Diamond Offshore Drilling, Inc. (NYSE:DO) shares are trading higher after the company disclosed that it signed a definitive agreement to be acquired by Noble Corporation plc (NYSE:NE) in a stock-plus-cash transaction. The implied cash and stock consideration for Diamond shareholders is $15.52 per share, reflecting an 11.4% premium over Diamond’s closing share price on June 7, 2024. As per the deal, Diamond shareholders will receive 0.2316 shares of Noble plus $5.65 in cash for each Diamond share. The transaction expected to close by the first quarter of 2025, subject to customary closing conditions. Once the deal is completed, Diamond shareholders will hold approximately 14.5% of
Key Transaction Terms Under the terms of the merger agreement, Diamond shareholders will receive 0.2316 Noble shares and $5.65 per share in cash for each Diamond share (representing $600 million total cash paid to Diamond shareholders on a fully-diluted basis). Following the close of the transaction, Diamond shareholders will own approximately 14.5% of Noble's shares on a fully-diluted basis. The implied cash and stock consideration to be received by Diamond shareholders is $15.52 per share, representing a premium of 11.4% to Diamond's closing share price on June 7, 2024. Noble intends to fund the cash portion of the transaction through new debt financing, which Noble has secured throug
This contract extension represents approximately $350 million dollars of additional backlog, excluding any managed pressure drilling services, and replaces the one-year priced option that was agreed in May 2023. Anadarko retains three one-year unpriced options.
Barclays analyst Eddie Kim maintains Diamond Offshore Drilling (NYSE:DO) with a Overweight and raises the price target from $21 to $22.
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SUGAR LAND, Texas, Aug. 30, 2024 /PRNewswire/ -- Noble Corporation plc ("Noble") (CSE:NOBLE, NYSE:NE) and Diamond Offshore Drilling, Inc. ("Diamond Offshore") (NYSE:DO) announced today the receipt of clearance from the Australia Competition & Consumer Commission, in relation to the pending transaction between Noble and Diamond Offshore, which is the final required regulatory approval for the transaction. The parties expect to close the transaction on Wednesday September 4th, 2024. About Noble Corporation plcNoble is a leading offshore drilling contractor for the oil and gas industry. The Company owns and operates one of the most modern, versatile, and technically advanced fleets in the of
$350 Million in Contract Awards in Q2; $89 Million in Contract Awards Post-Q2Q2 Adjusted EBITDA of $58 Million $8.7 Million in Performance Bonuses Earned during Q2 in Senegal Ocean GreatWhite Completes Repairs and Resumes OperationsHOUSTON, Aug. 6, 2024 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE:DO) today reported the following results for the second quarter of 2024: Three Months Ended Thousands of dollars, except per share data June 30, 2024 March 31, 2024 Total revenues $ 252,886 $ 274,610 Operating income 28,282 21,813 Net income 9,328 11,612 Income per diluted share 0.09 0.11 Adjusted operating income 33,428 31,813 Adjusted EBITDA (1) 58,020 64,163 Adjusted net income 12,189 2
SUGAR LAND, Texas, July 25, 2024 /PRNewswire/ -- Noble Corporation plc ("Noble") (CSE:NOBLE, NYSE:NE) and Diamond Offshore Drilling, Inc. ("Diamond") (NYSE:DO) announced today that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, in relation to the pending merger between Noble and Diamond, expired at 11:59 ET on July 24, 2024. Completion of the transaction is subject to the satisfaction of the remaining customary closing conditions, including approval by Diamond's stockholders and the receipt of informal clearance by the Australian Competition & Consumer Commission. A special meeting of Diamond stockholders to vote on the transaction is currently scheduled
HOUSTON, July 17, 2024 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE:DO) announced today that it will release its second quarter 2024 operating results on Tuesday, August 6, 2024 after the market closes. The company will not hold a conference call as a result of entering into the definitive merger agreement announced on June 10, 2024, providing for Diamond to be acquired by Noble Corporation plc, subject to shareholder and regulatory approvals and other customary closing conditions. ABOUT DIAMOND OFFSHOREDiamond Offshore is a leader in offshore drilling, providing innovation, thought leadership and contract drilling services to solve complex deepwater challenges around the globe. Ad
SUGAR LAND, Texas, June 10, 2024 /PRNewswire/ -- Noble Corporation plc ("Noble") (CSE:NOBLE) (NYSE:NE) and Diamond Offshore Drilling, Inc ("Diamond") (NYSE:DO) announced today that they have entered into a definitive merger agreement under which Noble will acquire Diamond in a stock plus cash transaction. As part of the transaction, Diamond shareholders will receive 0.2316 shares of Noble, plus cash consideration of $5.65 per share for each share of Diamond stock, representing an 11.4% premium to closing stock prices on June 7, 2024. Upon closing, Diamond shareholders will own approximately 14.5% of Noble's outstanding shares. Noble's President and Chief Executive Officer, Robert Eifler, sa
Secured $731 million in contract awards year to date, including $713 million in Q1Total backlog was $1.9 billion as of April 1, 2024Ocean GreatWhite repairs progressing well; expected back on location in the first half of JuneSecured marketing rights for 3 high-specification 7th generation drillshipsHOUSTON, May 7, 2024 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE:DO) today reported the following results for the first quarter of 2024: Three Months Ended Thousands of dollars, except per share data March 31, 2024 December 31, 2023 Total revenues $ 274,610 $ 297,637 Operating income 21,813 44,915 Net income (loss) 11,612 (145,702) Income (loss) per diluted share 0.11 (1.42) Adjusted op
HOUSTON, April 17, 2024 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE:DO) announced today that it will release its first quarter 2024 operating results on Tuesday, May 7, 2024 after the market closes. The Company has scheduled a conference call and webcast for Wednesday, May 8, 2024 at 8:00 a.m. CDT to discuss the Company's results of operations. ABOUT DIAMOND OFFSHOREDiamond Offshore is a leader in offshore drilling, providing innovation, thought leadership and contract drilling services to solve complex deepwater challenges around the globe. Additional information and access to the Company's SEC filings are available at http://www.diamondoffshore.com/. Contact:Kevin BordoskySenior
$362 Million in Contract Awards Year to Date 2024$245 Million in Total Backlog Added in Q4Rig Performance Bonus Earned in SenegalOcean BlackHawk and Ocean Courage Commenced New Contracts in Q4HOUSTON, Feb. 27, 2024 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE:DO) today reported the following results for the fourth quarter of 2023: Three Months Ended Thousands of dollars, except per share data December 31, 2023 September 30, 2023 Total revenues $ 297,637 $ 244,958 Operating income 44,915 863 Adjusted EBITDA 72,340 27,693 Net loss (145,702) (145,016) Adjusted net loss (145,702) (138,792) Loss per diluted share $ (1.42) $ (1.42) Adjusted loss per diluted share $ (1.42) $ (1.36) Bernie
HOUSTON, Feb. 6, 2024 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE:DO) announced today that it will release its fourth quarter 2023 operating results on Tuesday, February 27, 2024 after the market closes. The Company has scheduled a conference call and webcast for Wednesday, February 28, 2024 at 8:00 a.m. CDT to discuss the Company's results of operations. ABOUT DIAMOND OFFSHOREDiamond Offshore is a leader in offshore drilling, providing innovation, thought leadership and contract drilling services to solve complex deepwater challenges around the globe. Additional information and access to the Company's SEC filings are available at http://www.diamondoffshore.com/. Contact:Kevin Bor
Backlog of $229 Million Added During Second QuarterOcean GreatWhite Completes Second Well Post-Reactivation; First Option ExercisedOcean BlackHawk Completes Senegal Contract; Commences Shipyard Project Ocean Apex Completes Shipyard Project; Mobilizing to Location Offshore AustraliaHOUSTON, Aug. 7, 2023 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE:DO) today reported the following results for the second quarter of 2023: Three Months Ended Thousands of dollars, except per share data June 30, 2023 March 31, 2023 Total revenues $ 281,563 $ 232,021 Operating income (loss) 10,240 (4,960) Adjusted EBITDA 36,213 21,733 Net income 238,783 7,229 Income per diluted share $ 2.29 $ 0.07 Bernie Wo
Third Circuit Court of Appeals Overturns Lower Court Decision to Appoint Custodian to Oversee Company; Rules that Majority of In-Office Directors "Shall" Fill the Board Vacancy CEO Vernon W. Hill Resigns Special Meeting of Shareholders to Be Cancelled Republic First Bancorp, Inc. (NASDAQ:FRBK) (the "Company") today announced that yesterday, Benjamin C. Duster, IV was appointed as an independent member of the Board of Directors (the "Board"), effective immediately. Mr. Duster's appointment follows the United States Court of Appeals for the Third Circuit (the "Third Circuit") reversing the decision of the United States District Court for the Eastern District of Pennsylvania, which appoint
HOUSTON, May 10, 2022 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE:DO) today reported the following results for the first quarter of 2022: Three Months Ended Thousands of dollars, except per share data March 31, 2022 December 31, 2021 Total revenues $ 186,239 $ 227,278 Operating loss (33,916) (127,296) Adjusted operating (loss) income (33,916) 5,153 Adjusted EBITDA (11,008) 29,690 Net loss (34,354) (124,868) Adjusted net (loss) income (34,354) 8,216 Loss per diluted share $ (0.34) $ (1.25) Adjusted (loss) income per diluted share $ (0.34) $ 0.07 Bernie Wolford,
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