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Diamond Offshore Drilling Posts Loss In Q1

Diamond Offshore Drilling, Inc. (DO) posted an adjusted loss per share of $0.34 for the first quarter of 2022. Net loss was $34.35 million or $0.34 per share, for the quarter. Total revenues were $186.24 million. Contract drilling revenue for the first quarter totaled $150 million.

As of March 31, 2022, Diamond Offshore had total liquidity of $388 million, comprised of $54 million of unrestricted cash, and $334 million of available capacity on its revolving credit facility and delayed draw First Lien Notes.

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