Diamond Offshore Reports 2006 Results

Diamond Offshore Drilling, Inc. (NYSE:DO) reported net income for the fourth quarter of 2006 of $221.4 million, or $1.60 per share on a diluted basis, compared with net income of $106.9 million, or $0.78 per share on a diluted basis, in the same period a year earlier. Revenues for the fourth quarter of 2006 were $578.2 million, compared with revenues of $368.3 million for the fourth quarter of 2005.

For the year ended December 31, 2006, the Company reported net income of $706.8 million, or $5.12 per share on a diluted basis, compared with net income of $260.3 million, or $1.91 per share on a diluted basis, for the year ended December 31, 2005. Revenues for the year ended December 31, 2006 were $2.1 billion, compared with $1.2 billion for 2005.

Diamond Offshore provides contract drilling services to the energy industry around the globe and is a leader in deepwater drilling. Generally, rig utilization rates approach 95-98% during contracted periods; however, utilization rates can be adversely impacted by additional downtime due to unscheduled repairs, maintenance and weather.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Automation Engineering Manager
Expertise: Electrical Engineering|Engineering Manager
Location: Houston, TX
 
Senior Accountant
Expertise: Accounting
Location: Chantilly
 
Channel Development Manager Job
Expertise: Business Development|Sales
Location: Minneapolis, MN
 
search for more jobs

Brent Crude Oil : $56.86/BBL 0.76%
Light Crude Oil : $50.66/BBL 0.21%
Natural Gas : $2.959/MMBtu 0.30%
Updated in last 24 hours