UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): December 30, 2010
Diamond Offshore Drilling, Inc.
(Exact Name of Registrant as Specified in Charter)
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| Delaware
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1-13926
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76-0321760 |
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(State or Other Jurisdiction
of Incorporation)
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(Commission File Number)
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(IRS Employer
Identification No.) |
15415 Katy Freeway
Houston, Texas 77094
(Address of Principal Executive Offices and Zip Code)
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| Registrant’s telephone number, including area code: |
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(281) 492-5300 |
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate line below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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On December 30, 2010, Diamond Offshore Drilling Limited, a subsidiary of Diamond Offshore
Drilling, Inc. (the “Company”), entered into a turnkey contract with Hyundai Heavy Industries Co.,
Ltd. for construction of a new, ultra-deepwater drillship with delivery scheduled for late in the
second quarter of 2013. The dynamically-positioned drillship will have a seven ram blow-out
preventer, dual activity capability, five mud pumps and a maximum hook-load capacity of 1,250 tons.
The unit will be designed for operations in up to 12,000 feet of water. The total cost, including
commissioning, spares and project management, is expected to be approximately $590 million and to
be paid out of available funds. The Company has also obtained from Hyundai a fixed-price option
for the purchase of a second drillship which the Company has the right to exercise at any time
before the end of the first quarter of 2011. On January 3, 2011, the Company issued a press
release announcing the construction contract. Filed herewith is a copy of such press release.
Statements in this report that contain “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended, include, but are not limited to, statements concerning future costs,
sources of funds and timing of delivery. Such statements are inherently subject to a variety of
assumptions, risks and uncertainties that could cause actual results to differ materially from
those anticipated or projected. A discussion of the risk factors that could impact these areas and
the Company’s overall business and financial performance can be found in the Company’s reports and
other documents filed with the Securities and Exchange Commission. These factors include, among
others, general economic and business conditions, contract cancellation, changes in oil and natural
gas prices, operating risks, casualty losses, industry fleet capacity, changes in foreign and
domestic oil and gas exploration and production activity, competition, changes in foreign,
political, social and economic conditions, regulatory initiatives and compliance with governmental
regulations, customer preferences and various other matters, many of which are beyond the Company’s
control. Given these concerns, investors and analysts should not place undue reliance on
forward-looking statements. Each forward-looking statement speaks only as of the date of this
report. 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.
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| Item 9.01. |
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Financial Statements and Exhibits |
(d) Exhibits.
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| Exhibit number |
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Description |
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99.1 |
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Press release dated January 3, 2011 |
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