Diamond Offshore Drilling Revenues Drop, Net Income Rises

Diamond Offshore Drilling announced Monday a $58 million revenue loss and a slight net income increase in the second quarter of 2015, compared to the same period last year.

The company recorded revenues of $634 million in 2Q 2015, compared to $692 million in 2Q 2014. Diamond’s net income for the second quarter of 2015 was $90 million, or $0.66 per share, which marked a slight increase from the 2Q 2014 net income figure of $90 million, or $0.65 per share.

Marc Edwards, president and chief executive officer of Diamond Offshore Drilling, commented in a company statement:

"Our results for the quarter reflect ongoing efforts to manage costs effectively while remaining focused on safe operations and fleet reliability. We delivered our best safety performance on record during the second quarter."

In its second quarter results statement, Diamond Offshore Drilling also announced that the Ocean Apex (DW semisub) was awarded a contract for an 18-month term offshore Australia, beginning in the second quarter of 2016 at a rate of $285,000 per day.

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