Diamond Offshore Drilling Inks Two-year Contract Extension With Anadarko Petroleum In US Gulf Of Mexico For Ocean BlackHawk, Commencing In November 2024; Represents ~$350M Of Additional Backlog; Bringing Total Contract Backlog To ~$2.1B
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Diamond Offshore Drilling has secured a two-year contract extension with Anadarko Petroleum for the Ocean BlackHawk in the US Gulf of Mexico, starting in November 2024. The deal is valued at approximately $350 million, excluding managed pressure drilling services, and replaces a previous one-year option. Anadarko retains three one-year unpriced options.
May 15, 2024 | 8:23 pm
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Diamond Offshore Drilling has secured a two-year contract extension with Anadarko Petroleum for the Ocean BlackHawk, valued at approximately $350 million. This extension replaces a previous one-year option and adds significant backlog.
The contract extension adds significant backlog and revenue visibility for Diamond Offshore Drilling, positively impacting its financial outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Anadarko Petroleum, a subsidiary of Occidental Petroleum, has extended its contract with Diamond Offshore Drilling for the Ocean BlackHawk, adding $350 million in backlog.
The contract extension with Diamond Offshore Drilling ensures continued operations and potential cost efficiencies for Anadarko Petroleum, indirectly benefiting Occidental Petroleum.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70