Marc Edwards News

Diamond Offshore Drilling Inc's fourth-quarter revenue beat analysts' estimates on Monday, helped by higher demand for its ultra-deepwater rigs. The company's revenue from its ultra-deepwater rigs rose more than 24 percent to $288.28 million in the fourth quarter. Total revenue fell nearly 12 percent to $346.21 million, but beat analysts' estimate of $331.91 million, according to Thomson Reuters I/B/E/S. "Although market conditions continue to be challenging, we were able to secure additional work for the Ocean Valor and Ocean Valiant…

As the offshore energy market continues to search for signs of recovery, latest news from Diamond Offshore points to better times ahead. On Monday, October 30, 2017 Diamond Offshore reported better-than-expected quarterly profits, in part driven by additional deals won for its deep-water drilling rigs at better rate, sending its shares up 8.3% at the time of reporting.. While Diamond Offshore CEO Marc Edwards was not prepared to call the bottom of the market, the news certainly bodes well for a global industry collectively looking for any light at the end of a nearly four year oil downturn turnnel. "The number of tenders has increased, albeit from a very low platform and customer inquiries have picked up, although also starting from a low base.

Rig contractor Diamond Offshore Drilling Inc's Chief Executive Officer Marc Edwards said on Monday oil prices needed to be "well over $60" to spur a recovery in offshore drilling. The company's shares reversed course and were down 2.3 percent at $16.67, with investors shrugging off a beat on quarterly profit and revenue. Global benchmark Brent crude prices have stabilized after a more than two-year slump, with prices hovering around $55 per barrel. "Offshore drilling is cyclical in nature…

Rig contractor Diamond Offshore Drilling Inc said it expected a significant number of ultra-deepwater rigs to be idled across the industry by year-end as oil producers' capital budget is likely to be lowered by a fifth this year. The company also said it would not pay a special dividend as it had been doing since 2006 to save cash to take advantage of opportunities in a distressed market. "...This action saves the company about $415 million over the next year, potentially equivalent to the cost of an ultra-deepwater asset," Evercore ISI analyst James West wrote in a note.

KVH Industries, Inc., (KVHI) has rolled out a new dedicated voice configuration for its mini-VSAT Broadband(SM) global maritime satellite network. The network's Voice over Internet Protocol (VoIP) service is now delivered on a prioritized and protected data stream, separate from the network's overall broadband data traffic. VoIP service is also prioritized onboard the vessel for quality VoIP service even during times of heaviest broadband data use. By prioritizing phone service…

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a better-than-expected quarterly profit as it cut drilling costs and hiked prices, sending its shares up as much as 10.5 percent. The company - owned 50.4 percent by hotel, energy and financial services conglomerate Loews Corp - also said it would pay a special cash dividend of 75 cents per share on top of its regular quarterly dividend of 13 cents. Diamond Offshore, which has one of the oldest fleet of rigs…

KVH Industries, Inc. provides 60% more capacity for EMEA region of mini-VSAT broadband network. The company has just completed a major upgrade to the mini-VSAT Broadbandsm network that will provide customers in Europe, the Middle East, and northern Africa (EMEA) with a 60% increase in satellite capacity. The added capacity was provided by consolidating bandwidth covering two separate regions into one powerful unified beam, and by implementing Variable Coding, Spreading, and Modulation (VCSM) technology provided by ViaSat, Inc., (Nasdaq:VSAT ), KVH's partner in the mini-VSAT Broadband network.