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Rig contractor Diamond Offshore's revenue beats estimates [Reuters]

DIAMOND OFFSHORE DRILLING (DO)  More Company Research Source: Reuters
Last diamond offshore drilling earnings: 4/30 06:00 am Check Earnings Report
US:NYSE Investor Relations: investor.diamondoffshore.com
PDF Rig contractor Diamond Offshore's revenue beats estimates | Reuters Reuters Staff 2 Min Read (Reuters) - Diamond Offshore Drilling Inc’s ( DO.N ) fourth-quarter revenue beat analysts’ estimates on Monday, helped by higher demand for its ultra-deepwater rigs. The company’s revenue from its ultra-deepwater rigs rose more than 24 percent to $288.28 million in the fourth quarter. Total revenue fell nearly 12 percent to $346.21 million, but beat analysts’ estimate of $331.91 million, according to Thomson Reuters I/B/E/S. “Although market conditions continue to be challenging, we were able to secure additional work for the Ocean Valor and Ocean Valiant, extending both of the rigs’ current contracts through 2020,” Chief Executive Marc Edwards said in a statement. The rig contractor’s results come weeks after the Donald Trump administration drew up a proposal to open up almost all of U.S. offshore waters to oil and gas drilling, a move expected to help the struggling industry stage a comeba [Read more]

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