Diamond Offshore 2Q profit flat. New rig contract secured

Diamond Offshore Drilling, Inc.  today reported net income of $90 million versus to $90 million, in the second quarter of 2014. Revenues in the second quarter of 2015 were $634 million, compared to revenues of $692 million in the second quarter of 2014.

“During the quarter, our second and third newbuild drillships, the Ocean BlackHornet and Ocean BlackRhino, began working in the Gulf of Mexico, and we have taken delivery of our fourth and final newbuild drillship, the Ocean BlackLion, which we expect to be on dayrate near year-end,” said Marc Edwards, President and Chief Executive Officer. “All four of these units will be working in the Gulf, where we will enjoy operational economies of scale.”

“Our results for the quarter reflect ongoing efforts to manage costs effectively while remaining focused on safe operations and fleet reliability,” added Edwards. “We delivered our best safety performance on record during Q2.”

Additionally, Diamond Offshore today said that the Ocean Apex semi-submersible drilling rig was awarded a contract for an 18-month term offshore Australia beginning in the second quarter of 2016 at a rate of $285,000 per day.

The driller, based in Texas, also announced today that it has declared a regular quarterly dividend of $0.125 per share, payable on September 1, 2015 to shareholders of record as of August 14, 2015.