ADVFN - Advanced Financial Network.
HOME» NYSE » D » DO Stock Price » DO Stock News

Diamond Offshore Drilling Share News

 Diamond Offshore Drilling, Inc. Stock Price
DO Stock Price
 Diamond Offshore Drilling, Inc. Stock Chart
DO Stock Chart
 Diamond Offshore Drilling, Inc. Stock News
DO Stock News
 Diamond Offshore Drilling, Inc. Company Information
DO Company Information
 Diamond Offshore Drilling, Inc. Stock Trades
DO Stock Trades

Hercules Offshore To Offer Debt, Stock To Repay Loan, Fund Rig Buy

DOW JONES NEWSWIRES Hercules Offshore Inc. (HERO) unveiled plans to sell in a private placement $500 million of debt and offer 20 million shares of stock as the offshore-drilling company looks to repay all outstanding debt under its existing term loan and fund a new rig acquisition. Shares were down 2.4% at $4.96 after hours. Since the close, the stock was up 21% over the past three months. Hercules, which has racked up more than three years of losses, became the biggest rig contractor in the Gulf of Mexico's shallow waters when it closed on a deal in April to acquire the rigs of weakened rival Seahawk Drilling Inc. It said Tuesday it agreed to buy the offshore-drilling rig Ocean Columbia from a subsidiary of Diamond Offshore Drilling Inc. (DO) for $40 million in cash. It also entered into a $106-million, three-year drilling contract with Saudi Aramco for use of the rig. Hercules said it plans to spend an additional $45 million to repair and upgrade the rig as well as move it from the Gulf of Mexico to the Middle East. The company plans to acquire the rig in May and start its contract with Saudi Aramco in November. Hercules said it plans to sell 20 million shares, using 50% of the proceeds to pay off a term loan facility. The rest will go toward the Ocean Columbia acquisition, refurbishment and relocation. The company said it plans to sell up to $300 million in senior secured notes due 2017 and $200 million in senior notes due 2019, also to repay the term loan, and use the rest for general corporate purposes, including the Ocean Columbia project. In January, Standard & Poor's Ratings Services raised its outlook on the company, saying it is benefiting from improving day rates and utilization of its jack-up rigs in the Gulf of Mexico. -By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108;

Stock News for Diamond Offshore Drilling (DO)
11/19/201514:05:02It's Not Just Low Oil Prices That Are Hurting Energy Companies...
11/10/201512:28:00Loews Corporation Announces Quarterly Dividend On Common Stock
11/08/201516:24:02Loews Corporation Posts Mixed Earnings Results
11/07/201514:45:03Diamond Offshore's Cost-Cutting Measures Spur a Big Earnings...
11/02/201515:50:00Diamond Offshore Drilling's Stock Surges on Better-Than-Expected...
11/02/201512:24:02Quarterly Report (10-q)
11/02/201506:10:39Current Report Filing (8-k)
11/02/201506:00:00Diamond Offshore Announces Third Quarter 2015 Results
11/02/201506:00:00Loews Corporation Reports Net Income Of $182 Million For The...
11/01/201517:30:31Notable earnings before Monday’s open
10/25/201503:17:50Offshore Drilling: Discussing The Future Of The Industry
10/22/201506:12:09Diamond Offshore - A High Quality Addition To Any Portfolio
10/19/201500:12:47Ocean Rig: The Eirik Raude And The Leiv Eiriksson Dilemma
10/13/201510:00:00Diamond Offshore to Release Third Quarter 2015 Results on November...
10/13/201510:00:00Loews Corporation to Release Third Quarter 2015 Results on November...
10/12/201509:09:57Greetings From Petrobras (Part 4): The Case Of Diamond Offshore
10/09/201516:37:58"Little risk in going long" offshore drillers, analyst says
10/02/201511:58:31Statement of Changes in Beneficial Ownership (4)
10/02/201511:57:34Statement of Changes in Beneficial Ownership (4)
10/02/201511:55:23Statement of Changes in Beneficial Ownership (4)

Diamond Offshore Drilling and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations