Diamond Offshore CEO Sees Drillship Rents Almost Doubling Next Year

Diamond Offshore is navigating an oversupplied offshore market by investing in its fleet to enhance competitiveness and efficiency. Despite investor impatience, the company focuses on long-term gains, anticipating market recovery. Signs of recovery include increased exploration budgets from major oil companies. Diamond Offshore aims to maintain asset employment and secure contracts, targeting a significant increase in day rates to ensure shareholder returns.

What is Diamond Offshore's approach to dealing with an oversupplied offshore market?

• Reducing the number of drilling rigs

• Focusing solely on onshore projects

• Investing in technology upgrades

• Increasing the number of employees

Why is Diamond Offshore investing in their fleet during a market downturn?

• To focus on short-term gains

• To reduce the number of rigs

• To prepare for a market recovery

• To preserve cash for future use

What evidence does Diamond Offshore see as a sign of market recovery?

• Reduction in the number of competitors

• Stable day rates

• Increase in exploration budgets

• Decrease in oil prices

What unique achievement does Diamond Offshore have compared to its peers?

• They have the highest day rates

• They operate only in the Gulf of Mexico

• All marketed assets have contracts moving forward

• They have the largest number of rigs

How does Diamond Offshore plan to keep their assets employed?

• By focusing on short-term contracts only

• By reducing the number of contracts

• By providing superior services

• By increasing the number of rigs

What is Diamond Offshore's target for day rates to ensure shareholder returns?

• Maintain current day rates

• Reduce day rates by 50%

• Double the current day rates

• Increase day rates by 10%

What is the expected change in day rates for long-term contracts by 2020?

• A minor increase

• No change

• A significant increase

• A slight decrease