Houston-based Diamond Offshore (DO) has announced a new North Sea contract in its Q4 results.
The firm’s total revenues dropped from $366million (£265million) in Q3 to $346million (£250million) due to “challenging market conditions”.
However, DO revealed that its semi-submersible rig Ocean Guardian has won a contract with Chevron to drill two wells from May.
Other awards included work in South America and Australia.
Meanwhile, the Ocean Valiant rig’s drilling contract with Maersk has been extended until mid-December of 2019.
DO said operational efficiency of its fleet was at 98.8%, up from 94.3% in Q3.
President and chief executive officer Marc Edwards said: ““Although market conditions continue to be challenging, we were able to secure additional work for the Ocean Valor and Ocean Valiant, extending both of the rigs’ current contracts through 2020.
“The moored market continues to tighten, evidenced by our three other contract wins during the quarter.”
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