Diamond Offshore Drilling (DODRW) 8-K Regulation FD Disclosure

1

Exhibit 99.1

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
June 16, 2009

RECENT COMMITMENTS — (See Body of Report For Contract Details/Date Changes and Other Information)

Ocean Columbia			113-day extension
						Dayrate			Est. End
Rig Name	WD	Location	Status	Operator	Current Term	($000s)		Start Date	Date
Domestic Deepwater Semisubmersibles (8)
Ocean Star	5,500’	GOM	Actively Marketing	DODI			0
Ocean America	5,500’	GOM	Current Contract	Mariner	6-month term	low 550’s		mid May 2009	late Jan. 2010
		GOM/Aust.	Prep and mobe	DODI				late Jan. 2010	mid May 2010
		Australia	Future Contract [swap from Bounty]	Woodside	two-year term	mid 420’s		mid May 2010	mid May 2012
Ocean Valiant	5,500’	GOM	Current Contract	Anadarko	one-year term extension	upper 420’s		mid Dec. 2008	late June 2009
		GOM/Angola	Prep, mobe & acceptance test for Total	DODI				late June 2009	late Sept. 2009
		Angola	Future Contract	Total	two-year term +priced options	low 620’s		late Sept. 2009	late Sept. 2011
Ocean Victory*	6,000’	GOM	Current Contract	ATP	one-year term, minimum — first three of six wells (approx. 108 days)	low 560’s		late May 2009	early Sept. 2009
			Actively Marketing	DODI	Gap in contract		0	early Sept. 2009	early Dec. 2009
			Contract Continuation	ATP	remaining three of six wells (approx. 150 days)	low 560’s		early Dec. 2009	early May 2010
			Actively Marketing	DODI	Gap in contract		0	early May 2010	Q4 2011
			Contract Continuation	ATP	remaining days of one-year term	low 540’s		Q4 2011	to be determined
Ocean Baroness	7,000’	GOM	Current Contract	Hess	term extension +unpricedoption	mid 360’s		late Nov. 2007	mid April 2010
Ocean Endeavor	10,000’	GOM	Current Contract	Devon	four-year term + unpricedoption	mid 290’s		early July 2007	late June 2011
Ocean Monarch	10,000’	GOM	Current Contract	Plains	one well assignment	low 440’s		mid March 2009	early Aug. 2009
		GOM	Future Contract	Anadarko	four-year term + unpricedoption	low 440’s		early Aug. 2009	mid March 2013
Ocean Confidence	10,000’	GOM	Current Contract	Murphy	four-year term + unpricedoption	low 510’s		late Feb. 2008	late March 2012

* Payable in cash and pursuant to an overriding royalty interest structure, as discussed in the Company’s Form 8-K that was filed on June 3, 2009.

2

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
June 16, 2009

						Dayrate		Est. End
Rig Name	WD	Location	Status	Operator	Current Term	($000s)	Start Date	Date
Domestic 2nd and 3rd Generation Semisubmersibles (2)
Ocean Ambassador	1,100’	GOM	Current Contract	Taylor	seven-month term	mid 280’s	late Dec. 2008	mid June2009
		GOM/Brazil	Prep, mobe & acceptance test for OGX	OGX			mid June2009	late Oct. 2009
		Brazil	Future Contract	OGX	three-year term + unpricedoption	low 260’s	late Oct. 2009	late Oct. 2012
Ocean Saratoga	2,200’	GOM	Current Contract	Taylor	410-day term + unpricedoption	mid 280’s	early June 2009	mid July 2010
Domestic Jack-ups (6)
Ocean Crusader	200’ MC	GOM	Cold Stacked	DODI
Ocean Drake	200’ MC	GOM	Cold Stacked	DODI
Ocean Champion	250’ MS	GOM	Cold Stacked	DODI
Ocean Spartan	300’ IC	GOM	Current Contract	Nippon	90-day term + option	mid 50’s	mid May 2009	early Aug. 2009
Ocean Summit	300’ IC	GOM	Prep, mobe and acceptance test for Pemex	DODI			late Feb. 2009	midJuly 2009
		Mexico	Future Contract	Pemex	476 day term	mid130’s	mid July 2009	earlyNov. 2010
Ocean Titan	350’ IC	GOM	Current Contract	Apache	four-month extension	low 130’s	mid April 2009	early July 2009
Ocean Tower	350’ IC	GOM	SOLD Pending close	DODI

3

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
June 16, 2009

						Dayrate		Est. End
Rig Name	WD	Location	Status	Operator	Current Term	($000s)	Start Date	Date
International Semisubmersibles (20)
MEXICO
Ocean New Era	1,500’	GOM	Current Contract	PEMEX	2 1/2 year term	mid 260’s	late Oct. 2007	mid Feb. 2010
Ocean Voyager	3,200’	GOM	Current Contract	PEMEX	2 1/2 year term	mid 330’s	early Nov. 2007	late Feb. 2010
NORTH SEA/MEDITERRANEAN
Ocean Nomad	1,200’	North Sea	Current Contract	Talisman	two-year term extension	upper 330’s	late Oct. 2008	early July2009, transfer remaining time to Princess
Ocean Guardian	1,500’	Ireland	Current Contract	AGR	one well	low 260’s	early May 2009	mid June 2009
		North Sea	Demobe to North Sea	DODI			mid June 2009	mid June 2009
		North Sea	Future Contract	Nippon	one well	high 290’s	mid June 2009	early Aug. 2009
Ocean Princess	1,500’	North Sea	Current Contract	Talisman	resume two-year term extension	upper 330’s	late Dec. 2008	mid April 2010
		North Sea	Future Contract [swap from Nomad]	Talisman	412 days from Nomad contract	upper 330’s	mid April 2010	early June 2011
		North Sea	Future Contract	Talisman	120-day additional term	mid 270’s	early June 2011	early Oct. 2011
Ocean Vanguard	1,500’	North Sea	Current Contract	Statoil	two-year term extension + unpricedoption	mid 400’s	late April 2008	mid April 2010
Ocean Lexington	2,200’	Egypt	Current Contract	BP	36-month term	mid 260’s	late Nov. 2006	mid Aug.2009
		Egypt/Brazil	Prep, mobe & acceptance test for OGX	OGX			mid Aug. 2009	late Jan. 2010
		Brazil	Future Contract	OGX	three-year term + unpricedoption	mid 330’s	late Jan. 2010	late Jan. 2013
AUSTRALASIA
Ocean Bounty	1,500’	Australia	Current Contract	Woodside	60 days	mid 380’s	early April 2009	mid July2009, transfer 2-yr. ext. to America
		Australia	Future 2-yr. cont. trans. to America; Bounty status TBD	DODI
Ocean Patriot	1,500’	Australia	Current Contract	Apache	two-year term + unpricedoption	between 380-420	late Jan. 2009	late Jan. 2011
Ocean Epoch	3,000’	Australia	Current Contract	BHPB	550-day term + unpricedoptions	low 350’s	late Feb. 2009	mid Sept. 2010
Ocean General	3,000’	Vietnam	Current Contract	PVEP	Approx. two-year term + unpricedoptions	low 280’s	mid Oct. 2008	early Oct. 2010
Ocean Rover	8,000’	Malaysia	Current Contract	Murphy	two-year term extension	low 450’s	late Feb. 2009	late Feb. 2011

4

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
June 16, 2009

						Dayrate
Rig Name	WD	Location	Status	Operator	Current Term	($000s)		Start Date	Est. End Date
BRAZIL
Ocean Whittington	1,500’	Brazil	Current Contract	Petrobras	five-year term plus potential 15% bonus	mid 220’s		late Jan. 2009	late Aug. 2012
Ocean Concord	2,200’	Brazil	Current Contract	Petrobras	five-year term plus potential 15% bonus	low 230’s		early Jan. 2008	early Jan. 2013
Ocean Yorktown	2,200’	Brazil	Current Contract	Petrobras	five-year term plus potential 15% bonus	mid 230’s		mid Aug. 2008	mid Aug. 2013
Ocean Yatzy	3,300’	Brazil	Current Contract	Petrobras	four-year term plus potential 17% bonus	mid 110’s		early Oct. 2005	early Oct. 2009
		Brazil	Contract interrupted for 5-year survey	DODI			0	mid June 2009	late July 2009
		Brazil	Future Contract	Petrobras	five-year term plus potential 10% bonus	mid 240’s		early Oct. 2009	early Oct. 2014
Ocean Quest	4,000’	Brazil	Current Contract	ENI Brasil	assignment from Noble	mid 380’s		mid May 2009	early Sept. 2009
		Brazil	Future Contract	OGX	two-year term + unpriced option	low 420’s		early Sept. 2009	early Sept. 2011
Ocean Winner	4,000’	Brazil	Current Contract	Petrobras	four-year term plus potential 5% bonus	low 110’s		mid March 2006	mid March 2010
		Brazil	Future Contract	Petrobras	five-year term extension plus potential 10% bonus	low 270’s		mid March 2010	mid March 2015
Ocean Worker	4,000’	Brazil	Current Contract	Petrobras	six-year term plus potential 10% bonus	low 270’s		late Feb. 2009	late Feb. 2015
Ocean Alliance	5,000’	Brazil	Current Contract	Petrobras	resume four-year term plus 20% potential bonus	mid 150’s		early Jan. 2009	mid June 2010
		Brazil	Future Contract	Petrobras	six-year term extension plus potential 15% bonus	low 340’s		mid June 2010	mid June 2016
International Drillship (1)
Ocean Clipper	7,500’	Brazil	Current Contract	Petrobras	five-year term plus potential 5% bonus	low 180’s		mid Dec. 2005	mid Dec. 2010

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DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
June 16, 2009

							Dayrate
Rig Name	WD	Location	Status	Operator	Current Term	($000s)		Start Date	Est. End Date
International Jack-ups (8)
Ocean Columbia	250’ IC	Mexico	Current Contract	Pemex	113-day extension	low 110’s		mid June 2009	early Oct. 2009
		Mexico	Maintenance	DODI			0	early Oct. 2009	mid Oct. 2009
Ocean Nugget	300’ IC	Mexico	Current Contract	Pemex	849 day term	mid 130’s		early April 2009	early July 2009
		Mexico	Intermediate Survey	DODI			0	early July 2009	late July 2009
		Mexico	Current Contract	Pemex	resume 849 day term	mid 130’s		late July 2009	late July 2011
Ocean King	300’ IC	Croatia	Current Contract	CROSCO	two-year bareboat charter	upper 100’s		mid Nov. 2007	late Dec. 2009
		Croatia	Intermediate Survey	DODI			0	late Dec. 2009	early Jan. 2010
Ocean Sovereign	300’ IC	Indonesia	Current Contract	Kodeco	resume 15-month term + unpriced option	mid 140’s		early March 2009	mid April 2010
Ocean Heritage	300’ IC	Gulf of Suez	Current Contract	IPR	one workover well	mid 60’s		early June 2009	late June 2009
		Gulf of Suez	Future Contract	SUCO	six-month term + six-month option	mid 60’s		late June 2009	late Dec. 2009
Ocean Spur	300’ IC	Egypt	Current Contract	WEPCO	one-year term	low 140’s		mid Aug. 2008	late Aug. 2009
Ocean Shield	350’ IC	Australia	Current Contract	ENI	term	mid 260’s		early Jan. 2009	early Jan. 2010
Ocean Scepter	350’ IC	Argentina	Current Contract	Enap Sipetrol/YPF	300-day term contract + unpricedoption	high 190’s		late Sept. 2008	late July 2009

NOTES: Rig utilization rates can be adversely impacted by additional downtime due to unscheduled repairs and maintenance, weather conditions and other factors. An LOI is subject to customary conditions, including the execution of a definitive agreement and as such may not result in a binding contract. Options are un-priced and any extension of contract is subject to mutually agreeable terms & conditions unless otherwise indicated. Mobe revenues (if any) and mobe expenses are deferred, and generally are amortized over the life of the contract. GOM = Gulf of Mexico.  

On rig utilization, assume 95% for DP units, 96% for conventionally moored rigs, and 98% for jack-ups.

6

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
June 16, 2009

EXPECTED 2009 DOWNTIME LONGER THAN 14 DAYS* (Subject to Change)

		# Days
Rig	(Total ’09 thru Q1 = 558)	May Act.	Est. Q2 Total	Comments
SHIPYARD — 5-YEAR SURVEYS & MAINTENANCE
America		7	37	5-year survey and maintenance
Titan		0	14	5-year survey and maintenance
Yatzy		0	15	5-year survey & maint. (start moved up from Q3)
Total 5-year Surveys		7	66
CONTRACT PREPARATION
Ambassador		0	12	Contract prep, mobe, acceptance test for Brazil
Quest		14	44	Contract prep, mobe, acceptance test for Brazil
Valiant		0	0	Contract prep, mobe, accept. test for West Africa
Summit		31	91	Contract prep, maint., mobe for Mexico
Total Contract Prep		45	147
OTHER DOWNTIME
Bounty		0	0	To Be Determined
Nugget		0	15	UWILD
Total Other		0	15
Total		52	228

* Does Not Include Warm or Cold Stacked Rigs (see body of report for stacked units)      

2010 Estimated Downtime = 416 days [excludes Bounty work TBD]
5-year Surveys: Spartan (35); New Era (50); Guardian (50); Vanguard (50); Winner (91); Spur (35).

Intermediate Surveys: Clipper (21), Columbia (10): Other: Confidence (18); Lexington (24); Bounty (TBD); Alliance (32).

IMPORTANT FOOTNOTES, PLEASE READ:

Survey Costs:When rigs are undergoing surveys, normal opex applies, plus additional costs. Addl. costs for 2009 for five new 5-year surveys are expected to be approximately: $5-6 million each for Titan, Yatzy, Concord, Champion and $24 million for America.

Mobe Costs:In addition, we expect to incur approximately $32 million of amortized mobe costs during 2009 ($8 million per qtr). NOTE: Amortized mobe costs are offset by amortized mobe revenues.

7

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
June 16, 2009

Average Per-Day Rig Operating Costs (in $000’s):*

Jack-Ups
GOM	mid 40’s
Mexico	mid 40’s
Mideast	mid 50’s
Indonesia	low 50’s
New-build Australia	mid-80’s
New-build Argentina	upper 70’s
Bareboat Charter	low 10’s
Semisubmersibles**
GOM 2nd gen.	mid 50’s
GOM 4th gen.	low 80’s
GOM 4th gen. Victory-class upgrades	upper 60’s
GOM 5th gen. Victory-class upgrades	low 90’s
Mexico mid-water	mid 60’s
Brazil mid-water	upper 70’s
Vietnam mid-water	upper 60’s
Malaysia 5th gen. Victory-class upgrade	upper 90’s
Australia/New Zealand mid-water	low 90’s
UK mid-water	mid 70’s
Norway mid-water	mid 130’s
Egypt mid-water	upper 70’s
West Africa 4th gen.	upper 120’s
Semisubmersible DP
GOM 5th gen. upgrade DP	upper 110’s
Brazil mid-water DP	low 90’s
Drillship
Brazil deepwater DP	mid 110’s
Other Per-Day Expense
Spare equipment repair, other	low 30’s

*	Daily operating costs tend to run slightly lower early in the year and slightly higher toward end of year
**	All floaters conventionally moored unless otherwise noted.

Cost/Revenue Footnote: Contract Drilling Expenses applies to contract drilling expenses ONLY anddoes not include Reimbursable Expenses

8

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF
June 16, 2009

Forward-Looking Statements: The rig status report may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements, and may contain or be identified by the words “expect,” “intend,” “plan,” “predict,” “anticipate,” “estimate,” “believe,” should, “could,” “may,” “might,” “will,” “will be,” “will continue,” “will likely result,” “project,” “budget,” “forecast,” and similar expressions. Statements by the Company in the rig status report that contain forward-looking statements include, but are not limited to, statements regarding the current term, future dayrates, start and end dates and comments concerning future contracts and availability, letters of intent, utilization, surveys, downtime and other aspects of the Company’s drilling rigs, as well as statements concerning rigs being upgraded or to be upgraded and rigs under construction. Such statements are inherently subject to a variety of assumptions, risks and uncertainties that could cause actual results to differ materially from those anticipated or projected. A discussion of the risk factors that could impact these areas and the Company’s overall business and financial performance can be found in the Company’s reports and other documents filed with the Securities and Exchange Commission. These factors include, among others, general economic and business conditions, contract cancellations, customer bankruptcy, operating risks, casualty losses, industry fleet capacity, changes in foreign and domestic oil and gas exploration and production activity, competition, changes in foreign, political, social and economic conditions, regulatory initiatives and compliance with governmental regulations, customer preferences and various other matters, many of which are beyond the Company’s control. Given these concerns, investors and analysts should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the rig status report, and the Company undertakes no obligation to publicly update or revise any forward-looking statement.