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Exhibit 99.1

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF JANUARY 3, 2005

RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM
- ------------------------------------------------------------------------------------------------------------------

DOMESTIC DEEPWATER SEMISUBMERSIBLES (6)

Ocean Quest 3,500' Victory Class GOM Contracted Pogo one well

Ocean Star 5,500' Victory Class GOM Contracted Kerr-McGee 220 day extension

Ocean America 5,500' Ocean Odyssey GOM Contracted Mariner one well extension

Ocean Valiant 5,500' Ocean Odyssey GOM Contracted ENI third of three wells
plus option

Ocean Victory 5,500' Victory Class GOM Contracted Newfield one well
Exploration
Ocean Confidence 7,500' DP Aker H-3.2 GOM Contracted BP five-year term
Modified

DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (4)

Ocean Voyager 2,000' Victory Class GOM Contracted Murphy one well

Ocean Concord 2,200' F&G SS-2000 GOM Contracted Kerr-McGee one well plus option

Ocean Lexington 2,200' F&G SS-2000 GOM Contracted Walter Oil & Gas one well

Ocean Saratoga 2,200' F&G SS-2000 GOM Contracted LLOG one well

DAYRATE
RIG NAME (000S) START DATE EST. END DATE FUTURE CONTRACT AND OTHER INFORMATION
- ------------------------------------------------------------------------------------------------------------------------------------

DOMESTIC DEEPWATER SEMISUBMERSIBLES (6)

Ocean Quest mid 70's early Dec. 2004 late Jan. 2005 LOI for one well in low 100's beginning late Jan. 2005 and ending
mid April 2005; followed by LOI for one well in high 110's
beginning mid April and ending mid July 2005; followed by LOI for
120 day term in mid 120's beginning mid July and ending mid Nov.
2005. Available; actively marketing.

Ocean Star mid 70's early Dec. 2004 mid July 2005 90 day term extension plus option with Kerr-McGee in low 140's
beginning mid July 2005 and ending early Oct. 2005. Available;
actively marketing.

Ocean America mid 80's late Oct. 2004 late Jan. 2005 One well extension plus option with Mariner in mid 110's beginning
late Jan. 2005 and ending early Mar. 2005; followed by two wells
plus option with Mariner in low 130's beginning early Mar. and
ending early June 2005; followed by three well extension with
Mariner/Pioneer in low 150's beginning early June and ending early
Sept. 2005. Available; actively marketing.

Ocean Valiant high 50's late Dec. 2003 mid Jan. 2005 One well with Kerr-McGee in mid 80's beginning mid Jan. and ending
early Mar. 2005; followed by one well with Kerr-McGee in high 90's
beginning early Mar. 2005 and ending mid May 2005, followed by one
well plus options with Kerr-McGee in low 130's beginning mid May
and ending mid July 2005; followed by 180 day term extension with
Kerr-McGee in low 150's beginning mid July 2005 and ending mid
Jan. 2006. Available; actively marketing.

Ocean Victory mid 90's late Dec. 2004 mid Feb. 2005 LOI for two wells in low 130's beginning mid Feb. and ending late
May 2005. Available; actively marketing.

Ocean Confidence 170's early Jan. 2001 early Jan. 2006 Available; actively marketing.

DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (4)

Ocean Voyager low 70's late Dec. 2004 early Feb. 2005 One well with Walter in mid 70's beginning early Feb. 2005 and
ending early Mar. 2005; followed by one well with Walter in low
80's beginning early Mar. 2005 and ending early April 2005.
Available; actively marketing.

Ocean Concord mid 50's early Oct. 2004 mid Jan. 2005 One well with ENI in mid 50's beginning mid Jan. 2005 and ending
late Mar. 2005; followed by one well for Kerr-McGee in upper 50's
beginning late Mar. and ending late April 2005; followed by one
well plus option with Kerr-McGee in mid 70's beginning late April
and ending late June 2005. Available; actively marketing.

Ocean Lexington high 40's early Sept. 2004 early Jan. 2005 Three wells with Walter beginning in early Jan. 2005 and ending
early April 2005. Rate for first and second wells in mid 50s with
third well in low 60s. One additional well plus option with
Walter in low 60's beginning early April and ending early May
2005; followed by approximately 120-day Survey and maintenance.
Available; actively marketing.

Ocean Saratoga mid 60's mid Dec. 2004 late Mar. 2005 Available; actively marketing.

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF JANUARY 3, 2005

RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM
- ------------------------------------------------------------------------------------------------------------------

DOMESTIC JACKUPS (12)

Ocean Crusader 200' Mat Cantilever GOM Contracted Walter Oil & Gas second of two wells
plus option

Ocean Drake 200' Mat Cantilever GOM Contracted Chevron/Texaco 60 day term extension
plus option

Ocean Champion 250' Mat Slot GOM Contracted Millennium one well

Ocean Columbia 250' Independent Leg GOM Contracted ADTI/Kerr-McGee one well extension
Cantilever

Ocean Spartan 300' Independent Leg GOM Contracted LLOG one well extension
Cantilever

Ocean Spur 300' Independent Leg GOM Contracted Spinnaker one well
Cantilever

Ocean King 300' Independent Leg GOM Contracted Houston two wells
Cantilever Exploration

Ocean Nugget 300' Independent Leg GOM Contracted ADTI/Mission one well
Cantilever

Ocean Summit 300' Independent Leg GOM Contracted LLOG three wells plus
Cantilever option

Ocean Warwick 300' Independent Leg GOM Shipyard DODI -
Cantilever

Ocean Titan 350' Independent Leg GOM Contracted Stone Energy one well plus option
Cantilever

Ocean Tower 350' Independent Leg GOM Contracted Chevron/Texaco one well plus option
Cantilever

DOMESTIC JACKUPS (12)

Ocean Crusader mid 30's early Nov. 2004 mid Jan. 2005 Two well extension plus option with Walter in high 30's beginning
mid Jan. 2005 and ending mid Mar. 2005. Available; actively
marketing.

Ocean Drake low 40's early Nov. 2004 mid Jan. 2005 Two wells plus option with ADTI/Kerr-McGee in high 30's beginning
mid Jan. and ending late Feb. 2005. Available; actively
marketing.

Ocean Champion mid 30's early Sept. 2004 mid Jan. 2005 Available; actively marketing.

Ocean Columbia mid 30's mid Nov. 2004 early Jan. 2005 Four wells with Kerr-McGee in mid 40's beginning early Jan. and
ending late April 2005. Available; actively marketing.

Ocean Spartan mid 40's early Dec. 2004 mid Feb. 2005 Three well extension with LLOG in high 40's beginning mid Feb. and
ending early June 2005. Available; actively marketing.

Ocean Spur mid 40's mid Dec. 2004 late Jan. 2005 Available; actively marketing.

Ocean King mid 40s late Aug. 2004 mid Jan. 2005 Available; actively marketing.

Ocean Nugget low 40's mid Nov. 2004 mid Jan. 2005 One well plus option with ADTI/Mission in high 40's beginning mid
Jan. and ending late Jan. 2005. Available; actively marketing.

Ocean Summit high 30's early Sept. 2004 late Jan. 2005 Two wells with LLOG in mid 40's beginning late Jan. and ending
late Mar. 2005. Available; actively marketing.

Ocean Warwick - - - In shipyard for repair of damage due to Hurricane Ivan. Estimated
completion mid Feb.

Ocean Titan low 50's early Nov. 2004 mid Jan. 2005 One well plus options with BHP in mid 50's beginning mid Jan. and
ending mid May 2005. Available; actively marketing.

Ocean Tower mid 50's early Jan. 2005 early July 2005 Available; actively marketing.

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF JANUARY 3, 2005

RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM
- ------------------------------------------------------------------------------------------------------------------

INTERNATIONAL SEMISUBMERSIBLES (17)

MEXICO

Ocean Ambassador 1,100' Bethlehem SS-2000 GOM Contracted PEMEX four year term work

Ocean Whittington 1,500' Aker H-3 GOM Contracted PEMEX four year term work

Ocean Worker 3,500' F&G 9500 Enhanced GOM Contracted PEMEX four year term work
Pacesetter

Ocean Yorktown 2,850' F&G SS-2000 GOM Contracted PEMEX four year term work

NORTH SEA

Ocean Nomad 1,200' Aker H-3 North Sea - DODI -

Ocean Guardian 1,500' Earl & Wright North Sea Contracted Shell one year
Sedco 711 Series

Ocean Princess 1,500' Aker H-3 North Sea Contracted Talisman three wells plus
option

Ocean Vanguard 1,500' Bingo 3000 North Sea Contracted ENI -

AUSTRALASIA

Ocean Bounty 1,500' Victory Class Australia Contracted OMV three wells

Ocean Patriot 1,500' Bingo 3000 Australia Contracted Apache two wells

Ocean Epoch 1,640' Korkut Australia Contracted Santos Exeter/Mutineer
development plus
option

Ocean General 1,640' Korkut Korea Contracted KNOC two wells

Ocean Baroness 7,000' Victory Class Indonesia Contracted Unocal 180 day extension

Ocean Rover 7,000' Victory Class Malaysia Contracted Murphy Second option well

INTERNATIONAL SEMISUBMERSIBLES (17)

MEXICO

Ocean Ambassador mid 50's late July 2003 mid Dec. 2007 Available.

Ocean Whittington low 60's late July 2003 early Oct. 2006 Available.

Ocean Worker high 60's mid Aug. 2003 late July 2007 Available.

Ocean Yorktown mid 40's late Oct. 2003 mid July 2007 Available.

NORTH SEA

Ocean Nomad - - - One year program with Talisman in U.K. North Sea in low 80's
beginning mid Jan. 2005 and ending mid Jan. 2006. Available;
actively marketing.

Ocean Guardian high 40's late March 2004 late March 2005 One year program with Shell in U.K. North Sea in low 80's
beginning late Mar. 2005 and ending late Mar. 2006. Available;
actively marketing.

Ocean Princess low 60's early Oct. 2004 mid Jan. 2005 One year extension plus option in U.K. North Sea in low 80's
beginning mid Jan. 2005 and ending late Dec. 2005. Available;
actively marketing.

Ocean Vanguard - - - In shipyard for repairs due to storm damage. Estimated completion
mid Feb. 2005. One year program in Norway with Statoil in low
140's beginning in mid Feb. 2005 and ending in mid Feb. 2006.
Available; actively marketing.

AUSTRALASIA

Ocean Bounty mid 70's early Sept. 2004 mid Jan. 2005 LOI for one well plus option in mid 70's beginning mid Jan. and
ending in early Feb. 2005; followed by one well plus option with
Hardman in low 80's beginning in early Feb. 2005 and ending late
Feb. 2005; followed by LOI for one well plus option in mid 80's
beginning late Feb. and ending mid April 2005; followed by LOI
for one well plus option in mid 80's beginning mid April and
ending late May 2005; followed by LOI for one well in mid 80's
beginning late May and ending late June 2005. Available; actively
marketing.

Ocean Patriot high 70's late Dec. 2004 mid Jan. 2005 Second of two wells with Bass Straits beginning mid Jan. 2005 and
ending mid Feb. 2005. Two wells with Woodside beginning mid Feb.
and ending mid Mar. Two wells plus option with Santos beginning
mid Mar. and ending late May. LOI for one well plus three options
beginning late May and ending early July 2005. All wells in high
70's. Available; actively marketing.

Ocean Epoch mid 60's mid Jan. 2004 mid Jan. 2005 One option well plus demobe declaired with Santos in mid 60's
beginning mid Jan. and ending late Feb. 2005; followed by LOI in
mid 70's for four wells plus option and demobe in Malaysia
beginning late Feb. and ending early Sept. 2005. Available;
actively marketing.

Ocean General high 60's mid Dec. 2004 mid April 2005 One well plus one option plus demobe with KNOC in Viet Nam in mid
50's beginning mid April and ending early June 2005. Available;
actively marketing.

Ocean Baroness mid 130's late Dec. 2004 early May 2005 Available; actively marketing.

Ocean Rover low 120's mid Dec. 2004 late Jan. 2005 Option wells three to six exercised in mid 120's beginning late
Jan. and ending mid July 2005. Available; actively marketing.

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF JANUARY 3, 2005

RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM
- ------------------------------------------------------------------------------------------------------------------

BRAZIL

Ocean Yatzy 3,300' DP DYVI Super Brazil Contracted Petrobras 700 day extension
Yatzy

Ocean Winner 3,500' Aker H-3 Brazil Contracted Petrobras 700 day extension

Ocean Alliance 5,000' Alliance Class Brazil Contracted Petrobras one year extension

INTERNATIONAL DRILLSHIPS (1)

Ocean Clipper 7,500' DP Brazil Contracted Petrobras 700 day extension
Fluor/Mitsubishi

INTERNATIONAL JACKUPS (2)

Ocean Sovereign 250' Independent Leg Bangladesh Contracted Cairn Energy three wells plus
Cantilever option

Ocean Heritage 300' Independent Leg India Contracted Cairn Energy six wells plus options
Cantilever

COLD STACKED (3)

Ocean Liberator 600' Aker H-3 S. Africa Cold Stacked DODI -

Ocean Endeavor 2,000' Victory Class GOM Cold Stacked DODI -

Ocean New Era 1,500' Korkut GOM Cold Stacked DODI -

BRAZIL

Ocean Yatzy mid 70's early Nov. 2003 mid Oct. 2005 Available.

Ocean Winner mid 50's early April 2004 mid March 2006 Available.

Ocean Alliance high 90's early Sept. 2004 early Sept. 2005 Available.

INTERNATIONAL DRILLSHIPS (1)

Ocean Clipper low 100's early Jan. 2003 early March 2006 Available; actively marketing.

INTERNATIONAL JACKUPS (2)

Ocean Sovereign low 60's mid Nov. 2004 late Mar. 2005 Available; actively marketing.

Ocean Heritage low 60's early Nov. 2004 mid May 2005 Available; actively marketing.

COLD STACKED (3)

Ocean Liberator - - - Cold stacked Nov. '02.

Ocean Endeavor - - - Cold stacked March '02.

Ocean New Era - - - Cold stacked Dec. '02.

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.

GOM = Gulf of Mexico