Diamond Offshore Drilling Investor Relations Material

Diamond Offshore Drilling is an American offshore drilling contractor that provides contract drilling services to the energy industry. Its primary focus is on deepwater and harsh environment drilling through its fleet of high-specification drilling rigs. The fleet includes semisubmersible rigs and drillships, which are designed to work in challenging offshore environments, including ultra-deep waters. The company's services encompass not only drilling operations but also project management and planning. Diamond Offshore is headquartered in Katy, Texas, and its shares are listed on the NYSE.

The roots of the company can be traced back to the 1960s when the onshore drilling company Brewster-Bartle filed for bankruptcy. Diamond Offshore’s founder, Don McMahon acquired the now-bankrupt company from its creditors and named it Diamond M Drilling Company, named after his ranch. The company expanded into offshore drilling and went public in 1970. The company got its current name in 1993 after a series of mergers and acquisitions during the past decades. In the wake of the COVID-19 pandemic, the company went into bankruptcy following a severe turndown in drilling operations due to lowered demand for oil. After a significant restructuring, the company was relisted on the NYSE in 2022.

Diamond Offshore Drilling, Inc. specializes in offshore drilling and operates a fleet of drilling rigs. Their services primarily cater to the exploration and extraction of oil and natural gas from offshore fields. The company's fleet includes both semisubmersible rigs and dynamically positioned drillships, designed to operate in various water depths and environmental conditions. Diamond Offshore's expertise extends to deepwater drilling, a complex and technically demanding aspect of offshore exploration. Besides the actual drilling for oil and natural gas, the company’s services encompass project management, rig design, and operational support.

The company is a contractor and works with a number of large players in the global energy industry. Its drilling services are offered to a global clientele, including major national and independent oil and gas companies. Some of the company’s customers over the years have included Hess, Petrobras, BP, and other well-established names in the industry.