Diamond Offshore Drilling 2013 Profit Slips

MarineLink.com
Friday, February 07, 2014
Image courtesy of Diamond Offshore Drilling

In the company's financial report for the fourth quarter of 2103 Diamond Offshore Drilling announced that for the full year 2013 their net income of $549 million, or $3.95 per share, compared with net income of $720 million, or $5.18 per share, in 2012.  Revenues for the full year 2013 were $2.920 billion, compared with $2.987 billion in 2012.

In the fourth quarter of 2012, Diamond Offshore reported net income of $156 million, or $1.12 per share, which included an after-tax impairment charge of $40.6 million, or $0.29 per share, related to the reclassification of four cold-stacked rigs as held for sale.  Revenues in the fourth quarter of 2013 were $726 million, compared with revenues of $751 million in the prior year quarter.

"We have taken delivery of the Ocean BlackHawk, the first of our four newbuild ultra-deepwater drillships," announced Larry Dickerson, President and Chief Executive Officer of Diamond Offshore.  "The rig will soon be on its way to the U.S. Gulf of Mexico, where it will begin a five year contract with Anadarko.  Additionally, our deepwater semi Ocean Onyx has been delivered by the shipyard and is currently on location in the U.S. Gulf working for Apache.  These rig deliveries represent important milestones for Diamond's ongoing fleet renewal program."

"Additionally, our operating results for the quarter and the full year reflect our ongoing focus on managing costs and reducing downtime," said Dickerson.

Capital expenditures for newbuilds, upgrades and maintenance, but excluding capitalized interest, totaled $1.0 billion in 2013, and are expected to total $2.1 billion in 2014.

www.diamondoffshore.com

 

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Jee to Host Subsea Installation Analysis Webinar

Webinar to focus on optimizing subsea installation analysis, helping companies minimize offshore time and costs. Jee Ltd., an independent subsea engineering and training company,

Harris Secures Certification for its Multi-channel Manpack Radio

Harris Corporation (NYSE:HRS) has received Type-1 National Security Agency (NSA) certification for its Falcon III® RF-340M multi-channel manpack radio. The certification

Lithuania Inks First Statoil LNG Deal

Lithuania seeks to cut dependence on Russia; Statoil to supply 0.54 bcm of gas per year. This will cover about 20 pct of Lithuania's demand. Lithuania signed

Offshore

Jee to Host Subsea Installation Analysis Webinar

Webinar to focus on optimizing subsea installation analysis, helping companies minimize offshore time and costs. Jee Ltd., an independent subsea engineering and training company,

Coast Guard Medevacs Seafarer From Tanker off Galveston

A Coast Guard rescue helicopter crew medevaced a 32-year-old crewmember off an Italian-flagged tanker Wednesday, after he suffered an injury from a snapped fender

USCG Rescue Fisherman from Western Lake Erie

The Coast Guard rescued a fisherman from western Lake Erie after he launched an emergency distress flare Wednesday afternoon, near South Bass Island, Ohio. The

Finance

Lithuania Inks First Statoil LNG Deal

Lithuania seeks to cut dependence on Russia; Statoil to supply 0.54 bcm of gas per year. This will cover about 20 pct of Lithuania's demand. Lithuania signed

DNO Eyes First Kurdistan Crude Shipment

Norwegian firm DNO expects its first shipment of oil from Kurdistan to be sold on the international market by the end of the year and said it was committed to its

Second Tanker Awaits Lifting Opportunity at Libya Port

A second tanker is waiting to load oil at Libya's Es Sider port, state-run National Oil Corp (NOC) said on Thursday, as the country's biggest crude export terminal

Offshore Energy

Jee to Host Subsea Installation Analysis Webinar

Webinar to focus on optimizing subsea installation analysis, helping companies minimize offshore time and costs. Jee Ltd., an independent subsea engineering and training company,

Keppel Delivers 4th Jackup Rig to Qatar

Keppel FELS Limited (Keppel FELS) has delivered its fourth jackup rig, "Dukhan", to Gulf Drilling International Ltd. q.s.c. (GDI) of Qatar nine days ahead of schedule,

Chariot Agrees Brazil Farm Out with AziLat

Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, announced that its wholly owned subsidiary, Chariot Brasil Petróleo e Gás Ltda.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Pipelines Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1623 sec (6 req/sec)