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

Exhibit 99.1

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF July 26, 2007

						Dayrate
Rig Name	WD	Location	Status	Operator	Current Term	(000s)	Start Date	Est. End Date	Future Contracts and Other Information*
RECENT COMMITMENTS — (See Body of Report For Contract Details/Date Changes and Other Information)
Ocean Rover									Two-years with Murphy in Malaysia in mid 450’s
Ocean Worker									30-day extension with Pemex in mid 330’s
Domestic Deepwater Semisubmersibles (8)
Ocean Quest	3,500'	GOM	Contracted	Noble	two year term + option	mid 350’s	mid April 2007	mid June 2009	Available; actively marketing.
Ocean Star	5,500'	GOM	Contracted	DODI	special survey and maintenance	—	—	late July 2007	Resume contract with Anadarko thru early Jan. 2008; followed by one-year term extension, plusoption, with Anadarko in mid 410’s beginning in early Jan. 2008 and ending in early Jan. 2009. Available; actively marketing.
Ocean America	5,500'	GOM	Contracted	ENI	assignment from Mariner	mid 420’s	mid May 2007	mid Oct. 2007	Resume work with Mariner mid-Oct. 2007 in mid 370’s until mid-March 2008, then mid 420’s until mid-April 2008, plusoption. Available; actively marketing.
Ocean Valiant	5,500'	GOM	Contracted	Anadarko	one year term extension	mid 390’s	mid Mar. 2007	mid Mar. 2008	One-year term extension with Anadarko in mid 420’s beginning mid April 2008 and ending mid April 2009. Available; actively marketing.
Ocean Victory	5,500'	GOM	Contracted	Murphy	two year term ext. + option	mid 320’s	early Dec. 2006	early Dec. 2008	One well, plus option, with Newfield in low 300’s (swap from Voyager contract in low 300’s) beginning early Dec. 2008 and ending mid Jan. 2009.Available; actively marketing.
Ocean Baroness	7,000'	GOM	Contracted	DODI	special survey and maintenance	—	—	lateSept. 2007	Current Hess contract is three year term +optionendingmidFeb. 2010. Available; actively marketing.
Ocean Endeavor	10,000'	GOM	Contracted	Devon	four year term + option	low 250’s	early July 2007	late June 2011	Available.
Ocean Confidence	7,500'	GOM	Contracted	BP	two year term	low 280’s	early Jan. 2006	early Jan. 2008	Four-year term with Murphy in the GOM in the low 500’s beginning January 2008 and ending January 2012. Available; actively marketing.
Domestic 2nd/3rd Generation Semisubmersibles (5)
Ocean New Era	1,500'	GOM	Contracted	DODI	prep and mobe for Pemex	—	—	mid Sept. 2007	2-1/2 year term with Pemex in mid 260’s beginningmidSept. 2007 and ending mid Feb. 2010. Available; actively marketing.
Ocean Voyager	2,000'	GOM	Contracted	Newfield	three wells	low 300’s	early May 2007	late July 2007	Prep and mobe; followed by 2-1/2 year term with Pemex in mid 330’s beginning late Sept. 2007 and ending late Feb. 2010. Available; actively marketing.
Ocean Yorktown	2,850'	GOM	Contracted	DODI	prep and mobe for Brazil	—	—	mid Mar. 2008	Five-year term contract with Petrobras in Brazil in mid 230’s plus lump sum mobe and potential 15% bonus beginning in mid Mar. 2008 and ending in mid Mar. 2013. Available.
Ocean Concord	2,200'	GOM	Contracted	Tana	term extension + option	low 270’s	early June 2007	early Sept. 2007	Prep and lump-sum mobe to Brazil; followed by five-year contract with Petrobras in low 230’s plus potential 15% performance bonus beginnning early Nov. 2007 and ending early Nov. 2012. Available.
Ocean Saratoga	2,200'	GOM	Contracted	LLOG	six month term + option	low 120’s	late April 2007	late Oct. 2007	Six-month extension with LLOG in low 300’s beginning late Oct. 2007 and ending late April 2008 . Available; actively marketing.

2

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF July 26, 2007

						Dayrate
Rig Name	WD	Location	Status	Operator	Current Term	(000s)	Start Date	Est. End Date	Future Contracts and Other Information*
Domestic Jackups (8)
Ocean Crusader	200’ MC	GOM	Contracted	Energy Partners	six month term	high 110’s	early Mar. 2007	mid Aug. 2007	Available; actively marketing.
Ocean Drake	200’ MC	GOM	DODI	—	—	—	—	—	Available; actively marketing.
Ocean Champion	250’ MS	GOM	DODI	—	—	—	—	—	Available; actively marketing.
Ocean Columbia	250’ IC	GOM	Contracted	Newfield	one year term	low 120’s	early Aug. 2006	early Aug. 2007	Available; actively marketing.
Ocean Spartan	300’ IC	GOM	Contracted	Apache	two wells	low 70’s	mid July 2007	late Aug. 2007	Available; actively marketing.
Ocean Summit	300’ IC	GOM	Contracted	Hunt	three wells +two option wells	high 70’s	early June 2007	mid Sept. 2007	Available; actively marketing.
Ocean Titan	350’ IC	GOM	Contracted	Apache	one well	low 80’s	early May 2007	lateJuly 2007	Two well extension with Apache in low 80’s beginninglateJuly and endinglateSept. 2008. Available; actively marketing.
Ocean Tower	350’ IC	GOM	Contracted	Chevron	two year term extension +option	low 140’s	late April 2006	late April 2008	Indexed term contractwith floor in low 140’s and ceiling in low 200’s. Available; actively marketing.
International Semisubmersibles (17)
MEXICO
Ocean Ambassador	1,100'	GOM	Contracted	PEMEX	four year term work	mid 50’s	late July 2003	mid Dec. 2007	Available; actively marketing.
Ocean Worker	3,500'	GOM	Contracted	PEMEX	four year term work	high 60’s	mid Aug. 2003	late July 2007	30-day extension with Pemex in mid 330’s beginning late July and ending late Aug. 2007; followed by mobe to GOM; survey and prep for mobe to Trinidad;followed bysix-month term with Petro-Canada in Trinidad in the low 450’s beginninglate Oct. 2007 and ending lateMay2008. Available; actively marketing.
NORTH SEA/MED
Ocean Nomad	1,200'	North Sea	Contracted	Talisman	18-month extension	mid 280’s	early Feb. 2007	early Aug. 2008	Two-year term extension with Talisman in mid 330’s beginning early Aug. 2008 and ending early Aug. 2010. Available; actively marketing.
Ocean Guardian	1,500'	North Sea	Contracted	Oilexco	two year term	mid 350’s	early June 2007	early June 2009	Available; actively marketing.
Ocean Princess	1,500'	North Sea	Contracted	Talisman	two year term	mid 150’s	late Jan. 2006	mid Feb. 2008	Two-year term extension with Talisman in mid 330’s beginning mid Feb. 2008 and ending mid Feb. 2010.Available; actively marketing.
Ocean Vanguard	1,500'	North Sea	Contracted	Statoil	term	mid 160’s	early April 2007	mid April 2008	Two year extension plusoptionwith Statoil in low 400’s beginning mid April 2008 and ending mid April 2010. Available; actively marketing.
Ocean Lexington	2,200'	Egypt	Contracted	BP	36 month term + option	mid 260’s	late Nov. 2006	late Aug. 2009	Available; actively marketing.

3

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF July 26, 2007

						Dayrate
Rig Name	WD	Location	Status	Operator	Current Term	(000s)	Start Date	Est. End Date	Future Contracts and Other Information*
AUSTRALASIA
Ocean Bounty	1,500'	Australia	Contracted	Woodside	five wells	mid 100’s	early May 2007	early Feb.2008	One-year term with Woodside in low 350’s beginningearly Feb. 2008and endingearly Feb. 2009. Available; actively marketing.
Ocean Patriot	1,500'	New Zealand	Contracted	NZOP	four wells	high 100’s	early Mar. 2007	lateJuly 2007	One well with NZOP in mid 370’s beginninglateJuly 2007 and endingmidAug. 2007; followed by remainder of Australian Worldwide work in New Zealand in mid 370’s beginningmidAug. and ending mid Sept. 2007; followed by remainder of New Zealand work with Santos in mid 370’s beginning mid Sept. and ending mid Dec. 2007; followed by last option well exercised with Anzon in low 350’s beginning mid Dec. 2007 and ending mid Jan. 2008; followed by remainder of Santos term plus option in mid 370’s beginning mid Feb. 2008 and ending mid Sept. 2008; followed by two-year term contract in Australia at a dayrate between 380,000 and 420,000*** with Apache, plusoption,beginning mid Sept. 2008 and ending mid Sept. 2010. Available; actively marketing.
Ocean Epoch	1,640'	Australia	Contracted	Shell	term program plus option	mid 220’s	early April 2006	mid Dec. 2007	One year term contract with Apache in Australia at a dayrate between 330,000 and 365,000*** beginning mid Dec. 2007 and ending mid Dec. 2008; followed by 550-day term contract in Australia in low 350’s with BHPB, plusoption,beginning mid Dec. 2008 and ending mid June. 2010. Available; actively marketing.
Ocean General	1,640'	Indonesia	mobing to Timor Sea	Inpex	three wells	mid 130’s	early May 2007	early Dec. 2007	Two additional wells with Inpex in mid 170’s beginningearly Dec. 2007 and endingmid April. 2008. Available; actively marketing.
Ocean Rover	7,000'	Malaysia	Contracted	Murphy	remaining Kikeh development wells	mid 180’s	late Feb. 2007	late April 2008	Seven option wells of approximately 30-days each with Murphy in mid 240’sending mid Dec. 2008; followed by one well with Newfield in Malaysia in low 450’s beginning mid Dec. 2008 and ending late Jan. 2009;followed by two-year term with Murphy in Malaysia in low 450’s beginning late Jan. 2009 and ending late Jan. 2011. Available; actively marketing.
BRAZIL
Ocean Yatzy	3,300'	Brazil	Contracted	Petrobras	four year extension plus potential bonus	mid 110’s	early Oct. 2005	early Oct. 2009	Available.
Ocean Whittington	1,500'	Brazil	DODI— acceptance test	-	-	-	-	lateJuly 2007	Five-year term contract with Petrobras in Brazil in mid 220’s plus lump sum mobe and potential 15% bonus beginninglateJuly 2007 and endinglateJuly 2012. Available.
Ocean Winner	3,500'	Brazil	Contracted	Petrobras	700 day extension	low 110’s	mid Mar. 2006	mid Mar. 2010	Available.
Ocean Alliance	5,000'	Brazil	Contracted	Petrobras	four year extension plus potential bonus	mid 150’s	early Sept. 2005	early Sept. 2009	Available.
International Drillships (1)
Ocean Clipper	7,500'	Brazil	Contracted	Petrobras	five year extension plus potential bonus	low 180’s	mid Dec. 2005	mid Dec. 2010	Available.

4

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF July 26, 2007

						Dayrate
Rig Name	WD	Location	Status	Operator	Current Term	(000s)	Start Date	Est. End Date	Future Contracts and Other Information*
International Jackups (5)
Ocean Sovereign	300’ IC	Indonesia	Contracted	Kodeco	18-month term +option	mid 90’s	mid Oct. 2006	mid-April 2008	Available; actively marketing.
Ocean Spur	300’ IC	Eqypt	Contracted	NOSPCO	180-day term	high 150’s	mid May 2007	late Jan. 2008	One well with Gaz de France in Egypt in low 190’s beginning late Jan. 2008 and ending late Mar. 2008. Available; actively marketing.
Ocean Heritage	300’ IC	Qatar	Contracted	Maersk	one year term	high 150’s	early May 2006	late Aug. 2007	Two wells (approx. 150 days) plusoptionwith QPD in Qatar in mid 170’s beginning late Aug. 2007 and ending mid Jan. 2008. Available; actively marketing.
Ocean King	300’ IC	Mobe to Croatia	DODI	—	—	—	—	early Aug. 2007	Lump sum mobe followed by approximately 100 days shipyard for survey and maintenance ending mid Nov. 2007; followed by two-year bareboat charter with Crosco in high 100’s beginning early Nov. 2007 and ending mid Nov. 2009. Available; actively marketing.
Ocean Nugget	300’ IC	GOM	Contracted	Pemex	term contract	high 160’s	early Oct 2006	late Mar. 2009	Available; actively marketing.
Upgrade (1)
Ocean Monarch	2,200’	Shipyard	Upgrading	DODI	—	—	—	—	Singapore shipyard for upgrade to 10,000 ft. capable 5th Generation rig. Estimated completion, including commissioning and mobe, late fourth quarter 2008; followed by four-year term, plus mobe, plus option, with Anadarko in the GOM in the mid 420’s beginning late Dec. 2008 and ending late Dec. 2012. Available.
New-build Rigs Under Construction (2)
Ocean Shield	350’ IC	Shipyard	—	—	—	—	—	—	Singapore shipyard, estimated completion Q1 2008; followed by one-year term in Australia with ENI in mid 260’s beginning upon delivery in the first quarter of 2008. Available; actively marketing.
Ocean Scepter	350’ IC	Shipyard	—	—	—	—	—	—	Brownsville shipyard, estimated completion Q1 2008. Available; actively marketing.

NOTES: *Generally, rig utilization rates approach 95-98% during contracted periods; however, 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 and conditions unless otherwise indicated. Indexed contracts generally reprice every 30 days. Mobe revenues (if any) and mobe expenses are deferred, and generally are amortized over the life of the contract.GOM = Gulf of Mexico.***Dayrate range disclosed pursuant to terms of contract.

5

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF July 26, 2007

EXPECTED DOWNTIME LONGER THAN ONE WEEK
(AS OF JULY 26, 2007)
(SUBJECT TO CHANGE)

Anticipated 2007	# Days		Comments
Q3
Ocean Star		28	Completion of 5-year Special Survey and Maintenance Begun in Q2
Ocean New Era		65	Completion of Mexico Prep Work Begun in Q2 and Mobe to Mexico
Ocean King		92	5-year Special Survey and Maintenance Plus Mobe to, and Prep in, Croatia (cont. Q4)
Ocean Columbia		6	5-year Special Survey, Tank Work, Prep for Mexico (cont. Q4)
Ocean Alliance		11	5-year Special Survey and Maintenance (cont.Q4)
Ocean Concord		21	Brazil Contract Prep Work (cont. Q 4)
Ocean Baroness		86	5-year Survey and Maintenance
Ocean Confidence		18	Maintenance on Thrusters
Ocean Crusader		33	5-year Special Survey
Ocean Quest		30	5-year Special Survey and Permanent Repairs due to Hurricane Damage (cont. Q4)
Ocean Whittington		25	Acceptance testing for 5-year Brazil contract
Ocean Voyager		65	5-year Survey and Mexico Prep Work
Ocean Worker		37	Mobe to GOM and 5-year Special Survey and Maintenance
Ocean Clipper		51	5-year Special Survey and Maintenance
Ocean Yorktown		80	Mobe to GOM, Life Extension Work, 5-year Special Survey, Prep for Brazil (cont. Q4)
		648
Q4
Ocean King		46	Completion of 5-year Special Survey and Prep in Croatia
Ocean Alliance		34	Completion of 5-year Special Survey and Maintenance
Ocean Yorktown		92	Continuation of Life Extension Work, Special Survey, Brazil Prep. (cont. 120-days 2008)
Ocean Quest		31	Completion of 5-year Special Survey and Permanent Repairs Due to Hurricane Damage
Ocean Columbia		92	Completion of 5-year Survey plus Prep for, and Mobe to, Mexico (cont. 18 days in 2008)
Ocean Concord		76	Completion of Intermediate Survey and Maintenance and Mobe to Brazil
Ocean Worker		27	Completion of 5-year Special Survey and Maintenance and Mobe to Trinidad
Ocean Victory		39	5-year Special Survey and Maintenance
Ocean Tower		28	5-year Special Survey and Maintenance
Ocean Vanguard		20	Intermediate Survey and Maintenance
Ocean Ambassador		21	Mobe to GOM, Start of 5-year Special Survey and Maintenance (cont. 24 days in 2008)
		506
Total Anticipated Remaining 2007		1,154
Total 2007 Estimate		1,684

Anticipated 2008 Rig Surveys Requiring Shipyard Downtime:Ocean America, Ocean Drake, Ocean General, Ocean Nomad, Ocean Princess, Ocean Rover, Ocean Valiant, Ocean Guardian, Ocean Patriot, Ocean Bounty; [Completion Yorktown, Ambassador Surveys Begun 2007].Allow,on Average, Approx. 50 Days for Semis and 30 Days for Jack-ups.

6

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF July 26, 2007

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, 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.