Diamond Offshore Drilling News

A glut of deep-water drilling rigs is dragging down share prices and threatening revenue for operators that are being forced to accept lower day rates.

Good morning. My name is Maria, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Diamond Offshore's second quarter 2014 earnings conference call.

The offshore driller reported revenue of $692 million and net income of $90 million, or $0.65 per share.

Diamond Offshore Drilling is expected to report lower first-quarter earnings on Thursday, July 24, 2014.

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Together with this announcement, Seadrill made a voluntary incentive payment offer to convert the existing $650 million 3.375% 2017 convertible bond.

Shares of Diamond Offshore Drilling were the target of some unusual options trading activity on Monday.

If people were clairvoyant, it would be much easier to find the mythical island of equilibrium.