Diamond Offshore Drilling, Inc. (NYSE:DO) Files An 8-K Results of Operations and Financial Condition
Item2.02.
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Results of Operations and Financial Condition |
Diamond Offshore Drilling, Inc. (the Company) is furnishing this
Current Report on Form 8-K/A as Amendment No.1 to its Current
Report on Form 8-K furnished to the Securities and Exchange
Commission on February6, 2017. The purpose of this Amendment No.1
is to announce a revision to its preliminary financial results
for the quarter and year ended December31, 2016.
On February13, 2017, the Company issued a press release
announcing a revision to its previously-announced earnings for
the quarter and year ended December31, 2016. As it was completing
its year-end financial reporting process, the Company discovered
that its liability for uncertain tax positions in certain foreign
jurisdictions did not appropriately reflect changes in foreign
exchange rates. The majority of the impact was related to the
devaluation of the Egyptian Pound, primarily in the fourth
quarter of 2016. A copy of the press release is furnished
herewith as Exhibit 99.1.
Management is evaluating the impact of the foregoing with respect
to the Companys internal control over financial reporting and
potential remedial actions.
The information contained in Item 2.02 and Exhibit 99.1 to this
Amendment No.1 shall not be deemed filed for purposes of
Section18 of the Securities Exchange Act of 1934, as amended, and
shall not be incorporated by reference into any previous or
future registration statement filed under the Securities Act of
1933, as amended, unless specifically identified therein as being
incorporated by reference.
| Item9.01. | Financial Statements and Exhibits |
| (d) | Exhibits. |
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Exhibit number |
Description |
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| 99.1 | Press Release dated February13, 2017 |
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About Diamond Offshore Drilling, Inc. (NYSE:DO)
Diamond Offshore Drilling, Inc. is engaged in offshore drilling and providing contract drilling services to the energy industry. The Company has a fleet of approximately 30 offshore drilling rigs, such as semisubmersibles, jack-ups and dynamically positioned (DP) drillships. Its fleet offers a range of services around the world in the floater market (ultra-deepwater, deepwater and mid-water). Its Jack-up rigs are mobile, self-elevating drilling platforms equipped with legs that are lowered to the ocean floor. Its jack-ups are used for drilling in water depths from 20 feet to 350 feet. All of its jack-up rigs are equipped with a cantilever system that enables the rig to extend its drilling package over the aft end of the rig. Its drillships and semisubmersible rigs include Ocean Greatwhite, Ocean Valor, Ocean Courage, Ocean BlackHornet, Ocean BlackRhino and others. It provides offshore drilling services to oils and gas companies and government-owned oil companies. Diamond Offshore Drilling, Inc. (NYSE:DO) Recent Trading Information
Diamond Offshore Drilling, Inc. (NYSE:DO) closed its last trading session up +0.70 at 17.38 with 3,197,788 shares trading hands.