Montag, 10.02.2020 12:00 von PR Newswire | Aufrufe: 142

Diamond Offshore Announces Fourth Quarter 2019 Results

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PR Newswire


HOUSTON, Feb. 10, 2020 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE: DO) today reported the following results for the fourth quarter of 2019:


Three Months Ended

Thousands of dollars, except per share data

December 31, 2019


September 30, 2019

Total revenues 

$                  276,376

Kurse

  
Diamond Offshore Drilling Chart
58,44 $
+0,45%
Loews Chart

$                  254,020

Operating loss

(48,869)


(72,834)

Adjusted operating loss

(48,869)


(70,291)

Net loss

(74,770)


(95,128)

Adjusted net loss

(62,706)


(92,803)

Loss per diluted share 

$                      (0.54)


$                      (0.69)

Adjusted loss per diluted share 

$                      (0.45)


$                      (0.67)

 

During 2019, the Company secured $620 million of backlog, including over $50 million secured in the fourth quarter related to a 12-month extension for the Ocean Patriot in the North Sea. As of January 1, 2020, the Company's total contracted backlog was $1.6 billion, excluding approximately a $100 million margin commitment from one of the Company's customers.

CONFERENCE CALL

A conference call to discuss Diamond Offshore's earnings results has been scheduled for 8:00 a.m. CDT today.  A live webcast of the call will be available online on the Company's website, www.diamondoffshore.com. Those interested in participating in the question and answer session should dial 844-492-6043 or 478-219-0839 for international callers. The conference ID number is 5959776.  An online replay will also be available on www.diamondoffshore.com following the call.

ABOUT DIAMOND OFFSHORE

Diamond Offshore is a leader in offshore drilling, providing innovation, thought leadership and contract drilling services to solve complex deepwater challenges around the globe. Additional information and access to the Company's SEC filings are available at www.diamondoffshore.com. Diamond Offshore is owned 53% by Loews Corporation (NYSE: L).

FORWARD-LOOKING STATEMENTS

Statements contained in this press release or made during the above conference call that are not historical facts are "forward-looking statements" within the meaning of the federal securities laws.  Forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties that could cause actual results to differ materially from those anticipated or expected by management of the Company.  A discussion of certain of the important risk factors and other considerations that could materially impact these matters as well as the Company's overall business and financial performance can be found in the Company's reports filed with the Securities and Exchange Commission, and readers of this press release are urged to review those reports carefully when considering these forward-looking statements.  Copies of these reports are available through the Company's website at www.diamondoffshore.com.  These risk factors include, among others, risks associated with worldwide demand for drilling services, depressed levels of activity in the oil and gas industry, renewing or replacing expired or terminated contracts, contract cancellations and terminations, maintenance and realization of backlog, competition and industry fleet capacity, impairments and retirements, operating risks, litigation and disputes, changes in tax laws and rates, regulatory initiatives and compliance with governmental regulations, casualty losses, and various other factors, many of which are beyond the Company's control.  Given these risk factors, investors and analysts should not place undue reliance on forward-looking statements.  Each forward-looking statement speaks only as of the date of this press release.  The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any forward-looking statement is based.

DIAMOND OFFSHORE DRILLING, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(In thousands, except per share data)












Three Months Ended 


Twelve Months Ended 

December 31,


September 30,


December 31,


December 31,


2019


2019


2018


2019


2018











Revenues:










Contract drilling 

$       258,650


$       242,315


$       226,003


$       934,934


$    1,059,973

Revenues related to reimbursable expenses 

17,726


11,705


6,519


45,710


23,242

Total revenues 

276,376


254,020


232,522


980,644


1,083,215











Operating expenses:










Contract drilling, excluding depreciation 

199,633


201,568


160,368


793,412


722,834

Reimbursable expenses 

17,537


11,423


6,459


45,016


22,917

Depreciation 

91,752


88,693


86,255


355,596


331,789

General and administrative 

16,442


18,830


15,294


67,878


85,351

Impairment of assets

-


-


-


-

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