16 Jan 2024director interest notice● Neutral
DIAMOND OFFSHORE DRILLING, INC. director John Hollowell received a stock option grant for 9,562 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Jan 2024director interest notice● Neutral
DIAMOND OFFSHORE DRILLING, INC. director Neal P Goldman received a stock option grant for 14,343 shares.
16 Jan 2024director interest notice● Neutral
DIAMOND OFFSHORE DRILLING, INC. director Patrick Carey Lowe received a stock option grant for 9,562 shares.
13 Nov 2023director interest notice● Neutral
DIAMOND OFFSHORE DRILLING, INC. Senior Vice President and CFO Dominic A Savarino sold 5,106 shares at $12.74.
7 Nov 2023quarterly activities report▼ Bad
DIAMOND OFFSHORE DRILLING, INC. reported a quarterly net loss of $145.0 million for the period ended 2023-09-30.
7 Nov 2023quarterly activities report▼ Bad
DIAMOND OFFSHORE DRILLING, INC. reported a quarterly net loss of $145.0 million for the period ended 2023-09-30.
22 Sept 2023debt financing● NeutralMajor
On September 21, 2023, the $550 million of 8.500% second-lien notes due October 1, 2030 were issued at par for about $540 million net, with interest payable April 1 and October 1 starting April 1, 2024. The company is using proceeds to repay and terminate the term loan, redeem the 2027 PIK toggle notes in full and repay the revolver borrowings, with the rest for general purposes. This completes the refinancing launched on September 12; the notes are secured second-lien behind the revolver and callable from October 1, 2026 at 104.250%.
13 Sept 2023material agreement● NeutralMajor
The offering priced the same day, upsized from $500 million to $550 million of 8.500% senior secured second-lien notes due October 1, 2030, issued at par for about $539.5 million net, with closing expected September 21, 2023. A credit agreement amendment also cuts the revolver commitments from $400 million to $300 million and permits the offering. This continues the refinancing announced earlier that day.
12 Sept 2023capital raising announcement● NeutralMajor
On September 12, 2023, Diamond Offshore's subsidiaries launched a $500 million private offering of second-lien notes due 2030. The proceeds are intended to repay and terminate the term loan, redeem the 2027 first-lien PIK toggle notes in full and repay the revolver borrowings, i.e. refinancing the debt taken on at the April 2021 emergence. The filing also includes marketing disclosure: about $1.6 billion contract backlog as of July 1, 2023, debt cut from $2 billion since emerging to about $500 million, and net debt to adjusted EBITDA of 5.4x at June 30, 2023 (5.5x as adjusted for the offering). These are company statements to investors.
11 Aug 2023material agreement● Neutral
On August 10, 2023, HSBC Bank USA replaced Wells Fargo as administrative agent on the $400 million revolver and $100 million term loan (both dated April 23, 2021) and as collateral agent under the intercreditor agreement. The filing says the agreements otherwise remain in full force; it gives no reason for Wells Fargo's resignation.
8 Aug 2023quarterly activities report● Neutral
DIAMOND OFFSHORE DRILLING, INC. reported a quarterly net income of $238.8 million for the period ended 2023-06-30.
8 Aug 2023quarterly activities report● Neutral
DIAMOND OFFSHORE DRILLING, INC. reported a quarterly net income of $238.8 million for the period ended 2023-06-30.
1 Aug 2023director interest notice● Neutral
DIAMOND OFFSHORE DRILLING, INC. Senior Vice President and CFO Dominic A Savarino acquired 30,176 shares and disposed of 9,105 in a set of related equity transactions.
1 Aug 2023director interest notice● Neutral
DIAMOND OFFSHORE DRILLING, INC. SVP, General Counsel and Sec David L Roland acquired 30,176 shares and disposed of 8,629 in a set of related equity transactions.
12 July 2023substantial holder notice● Neutral
KGH Ltd, Key Group Holdings Master Fund SPC for and on behalf of KGH Market Neutral Strat, Millinvest, Ltd, Sunil Jagwani, Key Group Long Term Investments LP reported a DIAMOND OFFSHORE DRILLING, INC. shareholding of 7,553,202 shares (7.50% of votes) in a periodic institutional filing.
10 July 2023director interest notice● Neutral
DIAMOND OFFSHORE DRILLING, INC. Senior Vice President and CFO Dominic A Savarino sold 5,797 shares at $15.00.
5 July 2023director interest notice● Neutral
DIAMOND OFFSHORE DRILLING, INC. SVP, General Counsel and Sec David L Roland exercised stock options for 20,118 shares and disposed of 25,017 shares.
5 July 2023director interest notice● Neutral
DIAMOND OFFSHORE DRILLING, INC. Senior Vice President and CFO Dominic A Savarino exercised stock options for 20,117 shares and disposed of 25,016 shares.
1 June 2023director interest notice● Neutral
DIAMOND OFFSHORE DRILLING, INC. Senior Vice President and CFO Dominic A Savarino sold 6,027 shares at $10.94.
31 May 2023director interest notice● Neutral
DIAMOND OFFSHORE DRILLING, INC. Senior Vice President and CFO Dominic A Savarino sold 6,027 shares at $10.94.
16 May 2023director interest notice● Neutral
DIAMOND OFFSHORE DRILLING, INC. SVP, General Counsel and Sec David L Roland exercised stock options for 8,579 shares and disposed of 10,668 shares.
16 May 2023director interest notice● Neutral
DIAMOND OFFSHORE DRILLING, INC. President and CEO Bernie G. Wolford exercised stock options for 39,219 shares and disposed of 54,652 shares.
16 May 2023director interest notice● Neutral
DIAMOND OFFSHORE DRILLING, INC. Senior Vice President and CFO Dominic A Savarino exercised stock options for 12,257 shares and disposed of 15,242 shares.
10 May 2023director interest notice● Neutral
DIAMOND OFFSHORE DRILLING, INC. director Patrice D Douglas received a stock option grant for 6,631 shares.
10 May 2023director interest notice● Neutral
Patrice D Douglas became a DIAMOND OFFSHORE DRILLING, INC. director and company insider (initial ownership filing).
9 May 2023quarterly activities report● Neutral
DIAMOND OFFSHORE DRILLING, INC. reported a quarterly net income of $7.2 million for the period ended 2023-03-31.
9 May 2023quarterly activities report● Neutral
DIAMOND OFFSHORE DRILLING, INC. reported a quarterly net income of $7.2 million for the period ended 2023-03-31.
30 Mar 2023material agreement● Neutral
On March 24, 2023, Diamond Offshore amended its April 23, 2021 term loan and revolving credit agreements (the exit facilities from the bankruptcy) to replace the LIBOR-based interest rate with one based on SOFR, plus a customary spread adjustment. The filing describes only the rate-benchmark change and conforming edits; it states no change in loan size or maturity.
3 Mar 2023director interest notice● Neutral
DIAMOND OFFSHORE DRILLING, INC. Senior Vice President and CFO Dominic A Savarino sold 10,000 shares at $12.25.
3 Mar 2023director interest notice● Neutral
DIAMOND OFFSHORE DRILLING, INC. President and CEO Bernie G. Wolford acquired 30,370 shares and disposed of 7,400 in a set of related equity transactions.