- Diamond Offshore Drilling released its third-quarter results and provided a new fleet status on October 23. A surprising fleet status which is adding $2.4 billion in new contract backlog.
- Diamond Offshore ability to ink new long-term contracts in this challenging environment is very impressive. However, this fact came with a new low day-rate of $400k and no mobilization fee.
- The stock has recovered well from its recent lows and presents a decent outlook for 2015 after contracting its new UDW fleet. I raise the stock from HOLD to accumulate.