Diamond Puts Semisubs to Work

Diamond Offshore has received a two-well contract with an estimated duration of six months from Callon Petroleum for the Ocean Victory. The rig could earn maximum total revenue of approximately $91 million. In addition, the Company announced that it has entered into a Letter of Intent for a one-year commitment for the Ocean America under which the rig could earn maximum total revenue of approximately $175 million. The LOI is subject to customary conditions, including the execution of a definitive agreement. Both rigs will operate in the U.S. Gulf of Mexico.
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