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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
02/09/201611:36:00Loews Corporation Announces Quarterly Dividend On Common Stock
02/08/201606:33:28Current Report Filing (8-k)
02/08/201606:10:18Current Report Filing (8-k)
02/08/201606:05:00Diamond Offshore and GE Oil & Gas Enter into Industry's First...
02/08/201606:00:00Loews Corporation Reports Net Income For 2015
02/08/201606:00:00Diamond Offshore Announces Fourth Quarter 2015 Results
01/13/201609:00:00Diamond Offshore to Release Fourth Quarter 2015 Results on February...
01/12/201610:00:00Loews Corporation to Release Fourth Quarter 2015 Results on February...
01/05/201616:56:00MARKET SNAPSHOT: U.S. Stocks Snap 3-day Slump, End Slightly Higher
01/05/201616:55:00MARKET SNAPSHOT: U.S. Stocks Snap 3-day Slump
01/05/201614:43:00MARKET SNAPSHOT: U.S. Stocks Fight Off Another Slump In Oil Prices
01/04/201617:10:33Statement of Changes in Beneficial Ownership (4)
01/04/201617:10:33Statement of Changes in Beneficial Ownership (4)
01/04/201617:10:02Statement of Changes in Beneficial Ownership (4)
01/04/201617:08:41Statement of Changes in Beneficial Ownership (4)
01/04/201617:07:51Statement of Changes in Beneficial Ownership (4)
01/04/201617:07:27Statement of Changes in Beneficial Ownership (4)
01/04/201617:06:33Statement of Changes in Beneficial Ownership (4)
01/04/201617:06:07Statement of Changes in Beneficial Ownership (4)
01/04/201617:04:48Statement of Changes in Beneficial Ownership (4)

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