Diamond Offshore Nets $360M for Work with BP and Serica Energy

Ocean BlackLion drillship (Credit: Diamond Offshore)
Ocean BlackLion drillship (Credit: Diamond Offshore)

U.S.-based offshore drilling company Diamond Offshore has secured new contract with Serica Energy in UK and extension with BP in the Gulf of Mexico, adding $360 million of additional backlog.

Diamond Offshore secured two-year contract extension with a subsidiary of BP in the U.S. Gulf of Mexico for the Ocean BlackLion drillship, starting in September 2024 in direct continuation of the rig's current contract.

This contract extension represents approximately $350 million dollars of additional backlog for the company, Diamond Offshore said.

Also, the company has entered into a drilling contract, worth over $10 million, with Serica Energy to utilize the Ocean Patriot for two plug and abandonment (P&A) wells in the U.K. North Sea.

The program is estimated to begin in March 2024 and to continue for approximately 60 days.

“These awards reflect the continuing strength of the drillship market and the improving moored floater market in the U.K. North Sea while highlighting the exceptional work of our crews across these regions,” said Bernie Wolford, President and Chief Executive Officer.

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