Diamond Offshore Drilling
 |
|
| Public company | |
| Traded as | : DO S&P 400 Component |
| Industry | Petroleum industry |
| Headquarters | Houston, Texas, United States |
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Key people
|
James S. Tisch, President Marc G. Edwards (Director & CEO) |
| Products | Offshore Drilling |
| Revenue |  US$1.600 billion (2016) |
| -US$357 million (2016) |
|
| -US$373 million (2016) |
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| Total assets | US$6.371 billion (2016) |
| Total equity | US$3.750 billion (2016) |
|
Number of employees
|
2,800 (2016) |
| Parent | Loews Corporation (53%) |
| Website | www.diamondoffshore.com |
Diamond Offshore Drilling, Inc. is a deepwater drilling contractor. The company is headquartered in Houston, Texas and has major offices in Australia, Brazil, Mexico, Scotland, Singapore and Norway.
The company operates 24 drilling rigs including 19 semisubmersibles, 4 drillships, and 1 jackup rig.
The company provides quarterly online updates on the status of each rig in its fleet.
In 2016, Anadarko Petroleum accounted for 22.4% of the company's revenues, Petrobras accounted for 17.9% of the company's revenues, and ExxonMobil accounted for 5.8% of the company's revenues.
Operations outside of the United States accounted for 66% of the company's revenues in 2016.
Diamond Offshore's beginnings can be traced back to the earliest days of the offshore drilling industry. Its predecessor companies were ODECO, Zapata Corporation, and Diamond M Drilling Co.
Diamond Offshore’s roots date back to May 1953, when Alden J. (Doc) Laborde founded Ocean Drilling and Exploration Co. (ODECO) in New Orleans. Laborde had designed what was probably the first submersible drilling rig. After finding a financial backer in Charlie Murphy of Murphy Oil Co., a grateful Laborde built the rig in 1954 and named the unit Mr. Charlie in honor of his benefactor. Today, the Mr. Charlie is a museum and training facility in Morgan City, Louisiana.
After noticing the stability of submersible rigs when they were only partially submerged for relocation, Laborde designed and constructed the first purpose-built semi-submersible rig, Ocean Driller, in 1964. ODECO rigs continued to rack up “firsts” in the industry in the 1970s, with Ocean Viking discovering the giant Ekofisk oil field for Phillips Petroleum Company in the North Sea and Ocean Victory discovering the Piper oilfield and Claymore field, also in the North Sea, for Occidental Petroleum.
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