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 exceptional track record and is the third in a series
of follow-on contracts for the rig after its current contract."
ABOUT DIAMOND OFFSHORE
Diamond 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/.
FORWARD-LOOKING STATEMENTS
Statements contained in this press release that are not historical
facts are "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Such
statements include, but are not limited to, statements concerning
future contract effectiveness and estimated duration, availability
and future revenue, operating costs and performance; and other
statements that are not of historical fact. Forward-looking
statements are inherently uncertain and subject to a variety of
assumptions, risks and uncertainties that could cause actual
results to differ materially from those currently anticipated or
expected by management of the Company. A discussion of certain of
the risk factors and other considerations that could materially
impact these matters as well as the Company's overall business and
financial performance can be found in the Company's reports filed
with the Securities and Exchange Commission, and investors and
analysts are urged to review those reports carefully when
considering these forward-looking statements. Copies of these
reports are available through the Company's website at
www.diamondoffshore.com. These risk factors include, among others,
risks associated with worldwide demand for drilling services,
levels of activity in the oil and gas industry, renewing or
replacing expired or terminated contracts, contract cancellations
and terminations, maintenance and realization of backlog,
competition and industry fleet capacity, impairments and
retirements, operating and equipment recovery risks, litigation and
disputes, permits and approvals for drilling operations, supply
chain and normal business operations across sectors and countries,
changes in tax laws and rates, regulatory initiatives and
compliance with governmental regulations, casualty losses, and
various other factors, many of which are beyond the Company's
control. Given these risk factors and other considerations,
investors and analysts should not place undue reliance on
forward-looking statements. Each forward-looking statement speaks
only as of the date of such statement, and the Company expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statement to reflect
any change in the Company's expectations with regard thereto or any
change in events, conditions or circumstances on which any
forward-looking statement is based. In addition, information
contained in this press release is as of the date of this release.
There can be no assurance as to future developments, as future
events could differ materially from those anticipated.
Forward-looking statements are not guarantees of future performance
or developments and involve known and unknown risks, uncertainties
and other important factors beyond the Company's control that could
cause the Company's actual results, performance or achievements to
differ materially from any future results, performance or
achievements expressed or implied by such statements.
Contact:
Kevin Bordosky
Senior Director
Investor Relations
(281) 647- 4035
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SOURCE Diamond Offshore Drilling, Inc.