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EXHIBIT 99.1
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF FEBRUARY 14, 2005
<Table>
<Caption>
DAYRATE
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM (000s)
-------- ------ ------------------- --------- ---------- ---------------- ----------------------- ---------
DOMESTIC DEEPWATER SEMISUBMERSIBLES(6)
Ocean Quest 3,500' Victory Class GOM Contracted Noble one well low 100's
Ocean Star 5,500' Victory Class GOM Contracted Kerr-McGee 220 day extension mid 70's
Ocean America 5,500' Ocean Odyssey GOM Contracted Mariner one well extension mid 80's
Ocean Valiant 5,500' Ocean Odyssey GOM Contracted Kerr-McGee one well mid 80's
Ocean Victory 5,500' Victory Class GOM Contracted Newfield one well mid 90's
Exploration
Ocean Confidence 7,500' DP Aker H-3.2 GOM Contracted BP five-year term mid 170's
Modified
DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES(4)
Ocean Voyager 2,000' Victory Class GOM Contracted Murphy one well low 70's
Ocean Concord 2,200' F&G SS-2000 GOM Contracted ENI one well mid 50's
Ocean Lexington 2,200' F&G SS-2000 GOM Contracted Walter Oil & Gas three wells low 50's
Ocean Saratoga 2,200' F&G SS-2000 GOM Contracted LLOG three wells mid 60's
<Caption>
RIG NAME START DATE EST. END DATE FUTURE CONTRACT AND OTHER INFORMATION
-------- ---------------- ---------------- -------------------------------------
DOMESTIC DEEPWATER SEMISUBMERSIBLES(6)
Ocean Quest early Feb. 2005 late Mar. 2005 One well with Noble in high 110's beginning late March and ending mid April;
followed by LOI for 120 day term in mid 120's beginning mid April and ending
mid Aug. 2005. Available; actively marketing.
Ocean Star 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 late Oct. 2004 early Mar. 2005 One well extension plus option with Mariner in mid 110's beginning early Mar.
2005 and ending early April 2005; followed by two wells plus option with
Mariner in low 130's beginning early April and ending early July 2005;
followed by three well extension with Mariner/Pioneer in low 150's beginning
early July and ending early Oct. 2005. Available; actively marketing.
Ocean Valiant late Jan. 2005 early April 2005 One well with Kerr-McGee in high 90's beginning early April 2005 and ending
mid June 2005, followed by one well plus options with Kerr-McGee in low 130's
beginning mid June and ending mid Aug. 2005; followed by 180 day term
extension with Kerr-McGee in low 150's beginning mid Aug. 2005 and ending mid
Feb. 2006. Available; actively marketing.
Ocean Victory late Dec. 2004 mid Feb. 2005 100 day term plus option with Shell in low 130's beginning mid Feb. and ending
late May 2005. Available; actively marketing.
Ocean Confidence early Jan. 2001 early Jan. 2006 Available; actively marketing.
DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES(4)
Ocean Voyager late Dec. 2004 mid Feb. 2005 One well with Walter in mid 70's beginning mid Feb. 2005 and ending mid Mar.
2005; followed by one well with Walter in low 80's beginning mid Mar. 2005 and
ending mid April 2005. Available; actively marketing.
Ocean Concord early Feb. 2005 late May 2005 One well for Kerr-McGee in upper 50's beginning late May and ending late June
2005; followed by one well with Kerr- McGee in mid 70's beginning late June
and ending mid Aug. 2005; followed by two wells plus option extension with
Kerr-McGee in mid 90's beginning mid Aug. and ending early Nov. 2005.
Available; actively marketing.
Ocean Lexington late Jan. 2005 early April 2005 Rig will go in for approximately 120-day Survey and maintenance between second
and third well, beginning early April and ending early June. Following third
well, one additional well plus option with Walter in low 60's beginning early
July and ending early Aug.; followed by one well plus option with Walter in
low 80's beginning early Aug. and ending early Sept. 2005. Available; actively
marketing.
Ocean Saratoga mid Dec. 2004 mid June 2005 Two wells plus option with LLOG in low 110's beginning mid June and ending mid
Oct. 2005. Available; actively marketing.
</Table>
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF FEBRUARY 14, 2005
<Table>
<Caption>
DAYRATE
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM (000s)
-------- ------ ------------------- --------- ---------- ---------------- ----------------------- ---------
DOMESTIC JACKUPS (12)
Ocean Crusader 200' Mat Cantilever GOM Contracted Walter Oil & Gas two well extension mid 30's
Ocean Drake 200' Mat Cantilever GOM Contracted ADTI/Kerr-McGee two wells high 30's
Ocean Champion 250' Mat Slot GOM Contracted Hunt two wells low 40's
Ocean Columbia 250' Independent Leg GOM Contracted Kerr-McGee Five wells mid 40's
Cantilever
Ocean Spartan 300' Independent Leg GOM Contracted LLOG one well extension mid 40's
Cantilever
Ocean Spur 300' Independent Leg GOM Contracted Spinnaker one well mid 40's
Cantilever
Ocean King 300' Independent Leg GOM Contracted El Paso one well low 50's
Cantilever
Ocean Nugget 300' Independent Leg GOM Contracted ADTI/Mission one well high 40's
Cantilever
Ocean Summit 300' Independent Leg GOM Contracted LLOG three wells plus option high 30's
Cantilever
Ocean Warwick 300' Independent Leg GOM Contracted Newfield one well high 40's
Cantilever
Ocean Titan 350' Independent Leg GOM Contracted BHP one well plus option mid 50's
Cantilever
Ocean Tower 350' Independent Leg GOM Contracted Chevron/Texaco one well plus option mid 50's
Cantilever
<Caption>
RIG NAME START DATE EST. END DATE FUTURE CONTRACT AND OTHER INFORMATION
-------- ---------------- ---------------- -------------------------------------
DOMESTIC JACKUPS (12)
Ocean Crusader late Jan. 2005 mid April 2005 Available; actively marketing.
Ocean Drake late Jan. 2005 mid Mar. 2005 Two wells plus option with ADTI/CMI/ Palace in low 40's beginning mid Mar. and
ending late Mar. 2005. Available; actively marketing.
Ocean Champion late Jan. 2005 late May 2005 Available; actively marketing.
Ocean Columbia early Jan. 2005 mid May 2005 Available; actively marketing.
Ocean Spartan early Dec. 2004 late Feb. 2005 Three well extension with LLOG in high 40's beginning late Feb. and ending mid
June 2005. Available; actively marketing.
Ocean Spur mid Dec. 2004 early Mar. 2005 Maintenance/repairs early Mar. thru late May 2005. Available; actively
marketing.
Ocean King late Jan. 2005 late Feb. 2005 Available; actively marketing.
Ocean Nugget early Feb. 2005 mid Feb. 2005 One well plus option with ADTI/Mission in high 40's beginning mid Feb. and
ending early Mar. 2005. Available; actively marketing.
Ocean Summit early Sept. 2004 early Mar. 2005 Two wells with LLOG in mid 40's beginning early Mar. and ending early May
2005. Available; actively marketing.
Ocean Warwick early Feb. 2005 late Mar. 2005 One well with Newfield in low 50's beginning late Mar. and ending mid May
2005. Available; actively marketing.
Ocean Titan late Jan. 2005 mid May 2005 Available; actively marketing.
Ocean Tower early Jan. 2005 mid June 2005 Available; actively marketing.
</Table>
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF FEBRUARY 14, 2005
<Table>
<Caption>
DAYRATE
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM (000s)
-------- ------ ------------------- --------- ---------- ---------------- ----------------------- ---------
INTERNATIONAL SEMISUBMERSIBLES(17)
MEXICO
Ocean Ambassador 1,100' Bethlehem SS-2000 GOM Contracted PEMEX four year term work mid 50's
Ocean 1,500' Aker H-3 GOM Contracted PEMEX four year term work low 60's
Whittington
Ocean Worker 3,500' F&G 9500 Enhanced GOM Contracted PEMEX four year term work high 60's
Pacesetter
Ocean Yorktown 2,850' F&G SS-2000 GOM Contracted PEMEX four year term work mid 40's
NORTH SEA
Ocean Nomad 1,200' Aker H-3 North Sea Contracted Talisman one year low 80's
Ocean Guardian 1,500' Earl & Wright Sedco North Sea Contracted Shell one year high 40's
711 Series
Ocean Princess 1,500' Aker H-3 North Sea Contracted Talisman one year extension low 80's
Ocean Vanguard 1,500' Bingo 3000 North Sea Contracted ENI -- --
AUSTRALASIA
Ocean Bounty 1,500' Victory Class Australia Contracted Coogee Res. two wells mid 70's
Ocean Patriot 1,500' Bingo 3000 Australia Contracted Bass Straits two wells high 70's
Ocean Epoch 1,640' Korkut Mobe DODI -- -- --
Ocean General 1,640' Korkut Korea Contracted KNOC two wells high 60's
Ocean Baroness 7,000' Victory Class Indonesia Contracted Unocal 180 day extension mid 130's
Ocean Rover 7,000' Victory Class Malaysia Contracted Murphy six option wells low 120's
<Caption>
RIG NAME START DATE EST. END DATE FUTURE CONTRACT AND OTHER INFORMATION
-------- ---------------- ---------------- -------------------------------------
INTERNATIONAL SEMISUBMERSIBLES(17)
MEXICO
Ocean Ambassador late July 2003 mid Dec. 2007 Available.
Ocean late July 2003 early Oct. 2006 Available.
Whittington
Ocean Worker mid Aug. 2003 late July 2007 Available.
Ocean Yorktown late Oct. 2003 mid July 2007 Available.
NORTH SEA
Ocean Nomad early Jan. 2005 early Jan. 2006 Available; actively marketing.
Ocean Guardian late Mar. 2004 late Mar. 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 early Jan. 2005 late Dec. 2005 Available; actively marketing.
Ocean Vanguard -- -- Leave shipyard mid Feb. to P&A ENI well in low 140's and return to yard in
late Feb. for additional repairs due to storm damage. Estimated completion mid
Mar. 2005. One year program in Norway with Statoil in low 140's beginning in
mid Mar. 2005 and ending in mid Mar. 2006. Available; actively marketing.
AUSTRALASIA
Ocean Bounty early Feb. 2005 mid Mar. 2005 One well plus option with Hardman in low 80's beginning in mid Mar. and ending
early April; followed by LOI for one well plus option in mid 80's beginning
early April and ending mid May; followed by LOI for one well plus option in
mid 80's beginning mid May and ending early July; followed by LOI for one well
in mid 80's beginning early July and ending early Aug.; followed by two wells
plus option in low 90's beginning early Aug. and ending early Oct. 2005.
Available; actively marketing.
Ocean Patriot late Jan. 2005 late Feb. 2005 Two wells with Woodside beginning late Feb. and ending late Mar. Two wells
plus option with Santos beginning late Mar. and ending late May. LOI for one
well plus three options beginning late May and ending mid July 2005. All wells
in high 70's. Available; actively marketing.
Ocean Epoch -- -- Mobe to Singapore beginning early Feb. and ending late Feb. 2005, followed by
prep. until mid Mar. Four wells plus option with Murphy in low 70's in
Malaysia beginning mid Mar. and ending mid Dec. 2005. Available; actively
marketing.
Ocean General 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 late Dec. 2004 mid May 2005 Lump sum mobe to GOM beginning mid May and ending mid Oct., including prep;
followed by LOI with Amerada Hess for one-year term plus mobe in low 200's in
GOM beginning mid Oct. 2005 and ending mid Oct. 2006. Available; actively
marketing.
Ocean Rover late Jan. 2005 late June 2005 LOI with Murphy for 950 day extension at average dayrate in mid 170's
beginning late June 2005 and ending late Jan. 2008. Available; actively
marketing.
</Table>
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF FEBRUARY 14, 2005
<Table>
<Caption>
DAYRATE
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM (000s)
-------- ------ ------------------- --------- ---------- ---------------- ----------------------- ---------
BRAZIL
Ocean Yatzy 3,300' DP DYVI Super Yatzy Brazil Contracted Petrobras 700 day extension mid 70's
Ocean Winner 3,500' Aker H-3 Brazil Contracted Petrobras 700 day extension mid 50's
Ocean Alliance 5,000' Alliance Class Brazil Contracted Petrobras one year extension high 90's
INTERNATIONAL DRILLSHIPS(1)
Ocean Clipper 7,500' DP Fluor/Mitsubishi Brazil Contracted Petrobras 700 day extension low 100's
INTERNATIONAL JACKUPS(2)
Ocean Sovereign 250' Independent Leg Bangladesh Contracted Cairn Energy three wells plus option low 60's
Cantilever
Ocean Heritage 300' Independent Leg India Contracted Cairn Energy six wells plus options low 60's
Cantilever
UPGRADE(1)
Ocean Endeavor 2,000' Victory Class GOM Cold DODI -- --
Stacked
COLD STACKED(2)
Ocean Liberator 600' Aker H-3 S. Africa Cold DODI -- --
Stacked
Ocean New Era 1,500' Korkut GOM Cold DODI -- --
Stacked
<Caption>
RIG NAME START DATE EST. END DATE FUTURE CONTRACT AND OTHER INFORMATION
-------- ---------------- ---------------- -------------------------------------
BRAZIL
Ocean Yatzy early Nov. 2003 mid Oct. 2005 Available.
Ocean Winner early April 2004 mid Mar. 2006 Available.
Ocean Alliance early Sept. 2004 early Sept. 2005 Available.
INTERNATIONAL DRILLSHIPS(1)
Ocean Clipper early Jan. 2003 early Mar. 2006 Available; actively marketing.
INTERNATIONAL JACKUPS(2)
Ocean Sovereign mid Nov. 2004 mid April 2005 Available; actively marketing.
Ocean Heritage early Nov. 2004 late April 2005 Available; actively marketing.
UPGRADE(1)
Ocean Endeavor -- -- Preparing for mobe to Singapore shipyard for upgrade to 8,000 ft. design 5th
Generation rig. Estimated completion early 2007. Available; actively
marketing.
COLD STACKED(2)
Ocean Liberator -- -- Cold stacked Nov. '02.
Ocean New Era -- -- Cold stacked Dec. '02.
</Table>
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