Diamond Offshore Reveals New Floater Commitments

Instant Max AI Immediate Frontier

(Diamond Offshore, 8.Feb.2024) — Diamond Offshore Drilling, Inc. (NYSE: DO) executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the Ocean BlackLion, commencing in Sep. 2024 in direct continuation of the rig’s current contract. This contract extension represents approximately $350mn of additional backlog.

Additionally, the company has entered into a drilling contract with Serica Energy (UK) Limited to utilize the Ocean Patriot for two plug and abandonment (P&A) wells in the U.K. North Sea. The program is estimated to commence in Mar. 2024 and to continue for approximately 60 days. The contract represents over $10mn of additional backlog, excluding mobilization.

Bernie Wolford, Jr., President and Chief Executive Officer, commented, “These awards reflect the continuing strength of the drillship market and the improving moored floater market in the U.K. North Sea while highlighting the exceptional work of our crews across these regions.”


Previous post Petrobras Updates on São Tomé and Príncipe Exploratory Blocks
Next post Golden Arrow Updates on Deal at San Pietro IOCG Project