Analysis: Diamond Offshore’s Fleet & Focus

A strong competitor in the offshore rig market, Diamond Offshore currently offers 45 offshore rigs, making it the fourth largest fleet of competitive offshore rigs.

Of its total fleet, 14 are jackups, 30 are semisubmersibles and one is a drillship. Currently, Diamond has approximately 90% of its rig fleet contracted, and in June 2009 alone, the total revenue generated by contracted rigs exceeded $320,000,000. The majority of Diamond’s rig fleet is currently performing drilling operations. In fact, 34 rigs are presently drilling, and three are performing workover operations. One is waiting on location, one is undergoing inspection, one is being modified, and one is en route to a new location. Four rigs are ready-stacked at this time.

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