Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Folder An icon of a paper folder. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. Linked In An icon of the Linked In logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo.

Diamond Offshore Drilling

Oil & Gas

Diamond Offshore profit rises on demand for ultra-deepwater rigs

Diamond Offshore Drilling, one of the world's top-five offshore rig contractors, reported a slightly higher quarterly profit, helped by demand for its high-tech ultra-deepwater rigs and a drop in operating costs. Demand is strong for modern, faster rigs because they are cheaper to run and can drill more efficiently for oil and gas companies, which have been cutting spending due to low prices. Diamond Offshore, owned 52 percent by New York-based conglomerate Loews, said on Monday that revenue from its ultra-deepwater business rose 72.8 percent to $315.7 million in the second quarter ended June 30.

Markets

Diamond Offshore Drilling reports earnings loss

Diamond Offshore Drilling has reported its fourth quarter earnings for 2014 which were down $51million from the previous year. The company has reported a net income of $387million, compared to a net income of $549millon in 2013. Diamond was also hit with a non-cash impairment charge related to the retirement and scrapping of six mid-water semisubmersible rigs. Revenues for full year 2014 were $2.815 billion, compared to $2.920 billion in 2013.