Diamond Offshore Pleased with 2005 Results
For the year ended December 31, 2005, the Company reported net income of $260.3 million, or $1.91 per share on a diluted basis, compared with a net loss of $7.2 million, or $0.06 per share on a diluted basis for the year ended December 31, 2004. Revenues for the year ended December 31, 2005 were $1.2 billion, compared with $814.7 million for the year 2004.
"During 2005, our earnings registered quarterly improvement as conditions in the offshore drilling market became increasingly robust," commented Larry Dickerson, President and Chief Operating Officer. "By employing our capital for upgrades, new-builds and the purchase of existing rigs, we have enhanced our fleet, broadened our access to new markets, boosted our earnings potential and positioned the Company to generate significant cash flow. Virtually all of the fundamental market conditions that defined 2005 appear to remain in place for 2006, and we are confident in our market position and our ability to participate in any future improvements."
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Rystad Looks at the Buzz Around White Hydrogen
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension