Diamond Offshore Drilling, Inc. Announces Fourth Generation Semisubmersible Contract.HOUSTON--(BUSINESS WIRE)--Aug. 28, 1997--Diamond Offshore Drilling Offshore drilling typically refers to the act of extracting resources, primarily oil, in an ocean or lake. Controversy As with all oil drilling, there has been a certain level of controversy surrounding the issue. , Inc. (NYSE NYSE See: New York Stock Exchange :DO) today announced that it has signed an eighteen-month contract extension with an affiliate of Exxon Company International for its fourth generation semisubmersible sem·i·sub·mers·i·ble n. A seagoing, self-propelled barge that rides at anchor, stands on partially submerged vertical legs on submerged pontoons, and serves as living quarters and a base of operations in offshore drilling. , Ocean Valiant for deep water operations offshore West Africa. The contract extension will commmence on January 1, 1998 and is expected to generate revenues of approximately $103.5 million. Diamond Offshore is a leader in deep water drilling. The Company's fleet of 47 offshore drilling rigs consists of 31 semisubmersibles (including an accommodation vessel), 15 jack-ups and one drillship. The fleet operates in the waters of six of the world's seven continents. CONTACT: Diamond Offshore Drilling Diamond Offshore Drilling, Inc. is a deepwater drilling contractor which provides drilling services to the energy industry. The company's headquarters are located in Houston, Texas, but they have offices in Louisiana, Africa, Australia, Brazil, Indonesia, Scotland, Singapore, and Caren W. Steffes, 281/492-5393 |
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