OIL - DIAMOND OFFSHORE ANNOUNCES NEW FLOATER COMMITMENTS | Benzinga
HOUSTON, Feb. 8, 2024 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE:DO) today announced that it has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the Ocean BlackLion, commencing in September 2024 in direct continuation of the rig's current contract. This contract extension represents approximately $350 million dollars of additional backlog.
Additionally, the Company has entered into a drilling contract with Serica Energy (UK) Limited to utilize the Ocean Patriot for two plug and abandonment (P&A) wells in the U.K. North Sea. The program is estimated to commence in March 2024 and to continue for approximately 60 days. The contract represents over $10 million of additional backlog, excluding mobilization.
Bernie Wolford, Jr., President and Chief Executive Officer, commented, "These awards reflect the continuing strength of the drillship market and the improving moored floater market in the U.K. North Sea while highlighting the exceptional work of our crews across these regions."
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Diamond Offshore is a leader in offshore drilling, providing innovation, thought leadership and contract drilling services to solve complex deepwater challenges around the globe. Additional ...