Diamond Offshore (DO) Secures Additional Backlog Worth $350M [Yahoo! Finance]
Diamond Offshore Drilling, Inc. (DO)
Last diamond offshore drilling, inc. earnings: 2/10 06:00 am
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Source: Yahoo! Finance
Gulf of Mexico. The extension has been secured for the Ocean BlackHornet drillship and represents approximately $350 million of additional backlog. The Ocean BlackHornet is a seventh-generation Gusto P10000 drillship, built in 2014. It can operate at a depth of 12,000 feet and reach a maximum drilling depth of 40,000 feet. Diamond Offshore's fleet utilization level increased to 69% in the fourth quarter of 2023 from the prior-year level, while revenue efficiency remained intact. The offshore driller added $245 million in backlog during the fourth quarter. The company also secured $362 million in contract awards last month, in addition to its backlog worth $1.4 billion as of Jan 1, 2024. DO mentions that the contract award strengthens its relationship with an important client in the Gulf of Mexico. This will significantly contribute to its 2025 and 2026 backlog and future cash flows. Zacks Rank and Key Picks Currently, DO carries a Zacks Rank #5 (Strong Sell), while BP holds
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News
- DIAMOND OFFSHORE TO RELEASE FIRST QUARTER 2024 RESULTSPR Newswire
- There's Been No Shortage Of Growth Recently For Diamond Offshore Drilling's (NYSE:DO) Returns On Capital [Yahoo! Finance]Yahoo! Finance
- Diamond Offshore Drilling: Investors Should Look Beyond Recent Rig Incident Impact - Buy [Seeking Alpha]Seeking Alpha
- DIAMOND OFFSHORE ANNOUNCES NEW DRILLSHIP COMMITMENTPR Newswire
- Diamond Offshore Drilling, Inc. (NYSE:DO) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
DO
Earnings
- 2/27/24 - Miss