Exhibit 99.1
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| FOR IMMEDIATE RELEASE | | CONTACT: Les Van Dyke
Director, Investor Relations
(281) 492-5370 |
DIAMOND OFFSHORE DRILLING, INC. ANNOUNCES
PRICING OF $500 MILLION OF SENIOR NOTES
Houston, Texas, April 29, 2009 — Diamond Offshore Drilling, Inc. (NYSE:DO) today reported the pricing of $500 million principal amount of the Company’s 5.875% senior unsecured notes due May 1, 2019. The notes were offered at 99.851% of the principal amount. Closing of the transaction is scheduled for May 4, 2009, subject to customary closing conditions. The Company intends to use the net proceeds from the sale of the notes for general corporate purposes.
This notice does not constitute an offer to sell or the solicitation of an offer to buy securities. Any offers of the securities will be made only by means of a private offering memorandum. The notes have not been registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
Diamond Offshore provides contract drilling services to the energy industry and is a leader in deepwater drilling. Additional information on Diamond Offshore and access to the Company’s SEC filings is available on the Internet atwww.diamondoffshore.com.
Statements contained in this press release which are not historical facts are “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are inherently uncertain and subject to a variety of risks that could cause actual results to differ materially from those expected by management of the Company. A discussion of the important risk factors and other considerations that could materially impact these matters as well as the Company’s overall business and financial performance can be found in the Company’s reports filed with the Securities and Exchange Commission and readers of this release are urged to review those reports carefully when considering these forward-looking statements. Copies of these reports are available through the Company’s websitewww.diamondoffshore.com. Given these risk factors, investors and analysts should not place undue reliance on forward-looking statements. Any such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any forward-looking statement is based.
