DO owns about 19% world's limited supply of rigs capable of greater than 3,000 feet water debth. i don't remember what i didn't like about the company, so maybe it is time to take a second look.
According to the profile in The Interactive Wall Street Urinal (maybe outdated):
Not just any old cubic zirconia, Diamond Offshore Drilling is the contract offshore oil and gas driller with the world's largest fleet of semisubmersible rigs. It has 30 semisubmersibles, one drill ship, and about 15 jack-up rigs, or mobile drilling platforms. Diamond markets to companies such as British Petroleum and Shell (each of which accounts for about 15% of sales), Exxon, Chevron, and Texaco, and also to government-owned oil companies. Diamond operates in the Gulf of Mexico, where it has more than 1/2 the market for semisubmersible drilling rigs, and in the North Sea and offshore Australia, Malaysia, and South Africa. Loews, which spun off Diamond Offshore in 1995, owns a 52% stake in the company. |
