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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Think4Yourself who wrote (46565)6/17/1999 9:28:00 AM
From: IndioBlues  Read Replies (1) of 95453
 
Diamond Offshore Drilling Inc. Announces Drilling Contract

HOUSTON--(BUSINESS WIRE)--June 17, 1999--Diamond Offshore Drilling Inc. (NYSE:DO - news), has signed a letter of intent for a three-year contract for its 7,500-foot, dynamically positioned drillship ''Ocean Clipper'' to drill offshore Brazil in 1,500 meters of water. The contract will commence at the end of the fourth quarter of 1999 and is expected to generate revenues of approximately $103 million. Additional payments will be made if the rig works in water deeper than 1,500 meters or earns bonuses that are available under the contract.
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