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): FEBRUARY 8, 2005
-------------------------------
DIAMOND OFFSHORE DRILLING, INC.
(Exact Name of Registrant as Specified in Charter)
DELAWARE 1-13926 76-0321760
--------------------------------------------------------------------------------
(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
15415 KATY FREEWAY
HOUSTON, TEXAS 77094
--------------------------------------------------------------------------------
(Address of Principal Executive Offices and Zip Code)
Registrant's telephone number, including area code: (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:
Written communications pursuant to Rule 425 under the Securities
------ Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange
------ Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the
------ Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the
------ Exchange Act (17 CFR 240.13e-4(c))
INFORMATION TO BE INCLUDED IN THE REPORT
ITEM 8.01. OTHER EVENTS
On February 8, 2005, Diamond Offshore Drilling, Inc. (the "Company")
issued a press release announcing that the Company has signed Letters of Intent
("LOIs") for term contracts utilizing the Ocean Baroness and Ocean Rover, two
5th generation semisubmersible rigs currently operating in Southeast Asia.
The expected revenue from the combined contracts is approximately $243
million. Under the Ocean Baroness LOI, the rig is expected to relocate to the
U.S. Gulf of Mexico for a one-year contract with Amerada Hess Corp., following
completion of its current work in Indonesia in May 2005. The Baroness is
projected to require between 90 and 120 days to mobilize to U.S. waters prior to
commencement of the contract. The Ocean Rover LOI would provide for an
approximately 950-day extension of the rig's current work with Murphy Oil Corp.
The contract is expected to include the drilling portion of Murphy's Kikeh
development offshore Malaysia.
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, may include, but
are not limited to, statements regarding commitments for drilling work or
contracts, future dayrates and future contracts, expected revenues, relocation
and commencement dates, market conditions and mobilization of the rigs.
Forward-looking statements include, without limitation, statements which
project, indicate or imply future results and may contain words like "expect,"
"intend," "plan," "will," "estimated" and "budgeted," among others. Such
statements are inherently subject to a variety of risks and uncertainties that
could cause actual results to differ materially from those anticipated or
projected. These factors include, among others, the risk that an LOI may not
result in a binding contract, delays in relocation or mobilization, general
economic and business conditions, changes in oil and natural gas prices,
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. A
further 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 filings with the Securities and Exchange Commission.
2
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
Exhibit number Description
-------------- -----------
99.1 Press release of February 8, 2005
3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
DIAMOND OFFSHORE DRILLING, INC.
By: /s/ William C. Long
---------------------------------------
William C. Long
Vice President, General Counsel and
Secretary
Dated: February 8, 2005
4
EXHIBIT INDEX
Exhibit number Description
-------------- -----------
99.1 Press release of February 8, 2005