UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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): AUGUST 10, 2005
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DIAMOND OFFSHORE DRILLING, INC.
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(Exact Name of Registrant as Specified in Charter)
DELAWARE 1-13926 76-0321760
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(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
15415 KATY FREEWAY
HOUSTON, TEXAS 77094
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(Address of Principal Executive Offices and Zip Code)
Registrant's telephone number, including area code: (281) 492-5300
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NOT APPLICABLE
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(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))
ITEM 8.01. OTHER EVENTS
On August 10, 2005, Diamond Offshore Drilling, Inc. (the "Company")
issued a press release announcing that it has entered into a Letter of Intent
("LOI") to utilize the 4th generation semisubmersible Ocean Valiant in the Gulf
of Mexico for a period of one year commencing in mid-March 2006, with an option
to extend the work at a mutually agreeable rate and term. The press release
indicated that maximum total revenue under the LOI for the initial one-year term
would be approximately $111 million. The LOI is subject to customary conditions,
including the execution of a definitive agreement, and actual revenues received
could be reduced by various operating factors including utilization rates.
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 concerning commitments for drilling work or
contracts, future dayrates, future contract revenues, the term and start date of
future contracts, entry into definitive agreements, consummation of awarded
contracts, satisfaction of conditions precedent, future growth in demand for
equipment types or in any region, future cash flows, and future contracts.
Forward-looking statements include, without limitation, statements which
project, indicate or imply future results and may contain words like "expect,"
"intend," "plan," "will," "would," "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 a notification of
contract award, letter of intent, or verbal contract commitment may not result
in a binding contract, the risk that a binding contract could be terminated, the
risk that the markets for the Company's services will not continue to improve,
or the risk that factors outside of the Company's control may adversely impact
the amount of profit realized from a contract, as well as 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.
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ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
Exhibit number Description
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99.1 Press release of August 10, 2005
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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
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William C. Long
Vice President, General Counsel and
Secretary
Dated: August 10, 2005
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EXHIBIT INDEX
Exhibit number Description
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99.1 Press release of August 10, 2005
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