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Diamond Offshore In Two Term Drilling Pacts With Anadarko

DOW JONES NEWSWIRES Diamond Offshore Drilling Inc. (DO) signed two drilling contracts with Anadarko Petroleum Corp. (APC) that are expected to generate up to $1.8 billion in revenue. The contracts represent 10 years of contract drilling backlog and will use two drillships to be built by Hyundai Heavy Industries Co. (009540.SE) at its South Korean shipyard. Each drillship is contracted for five years. One begins in late 2013 and the other in early 2014. In addition, Anadarko and Diamond have mutually agreed to dismiss all claims related to the Ocean Monarch contract Anadarko terminated in September. The company had canceled the contract because of the U.S. government's deepwater-drilling moratorium in the wake of the Gulf of Mexico oil spill. Diamond Offshore reported in April its first-quarter earnings fell 14%, but beat analysts' consensus estimate, as the oil driller posted better-than-expected revenue on lower day rates but higher utilization rates for its deep-water vessels. Anadarko Petroleum's first-quarter earnings declined 70% as the oil-and-gas producer reported derivative losses and lower natural gas prices, while total production was flat. -By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

Stock News for Diamond Offshore Drilling (DO)
DateTimeHeadline
05/04/201615:22:12Initial Statement of Beneficial Ownership (3)
05/02/201614:53:02Quarterly Report (10-q)
05/02/201611:40:00Diamond Offshore, Helmerich Revenue Declines Not as Bad as Feared
05/02/201607:49:00Loews Corp. Revenue Hurt by Investment Returns
05/02/201606:34:34Current Report Filing (8-k)
05/02/201606:31:31Current Report Filing (8-k)
05/02/201606:05:00Diamond Offshore Names Kelly Youngblood as Senior Vice President...
05/02/201606:00:00Diamond Offshore Announces First Quarter 2016 Results
05/02/201606:00:00Loews Corporation Reports Net Income Of $102 Million For The...
04/12/201610:00:00Loews Corporation to Release First Quarter 2016 Results on May...
04/12/201610:00:00Diamond Offshore to Release First Quarter 2016 Results on May...
04/05/201612:49:27Statement of Changes in Beneficial Ownership (4)
04/05/201610:02:58Statement of Changes in Beneficial Ownership (4)
04/05/201610:00:47Statement of Changes in Beneficial Ownership (4)
04/05/201609:58:57Statement of Changes in Beneficial Ownership (4)
04/05/201609:58:21Statement of Changes in Beneficial Ownership (4)
04/05/201609:56:59Statement of Changes in Beneficial Ownership (4)
04/05/201609:56:03Statement of Changes in Beneficial Ownership (4)
04/05/201609:54:37Statement of Changes in Beneficial Ownership (4)
04/05/201609:54:06Statement of Changes in Beneficial Ownership (4)

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