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1
Exhibit 99.1
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF MARCH 14, 2005
<Table>
<Caption>
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM DAYRATE (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 Shell 100 day term plus option low 130's
Ocean Confidence 7,500' DP Aker H-3.2
Modified GOM Contracted BP five-year term mid 170's
DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (4)
Ocean Voyager 2,000' Victory Class GOM Contracted Walter Oil & Gas 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 early April 2005 One well with Noble in high 110's beginning early April and
ending late April; followed by 120 day term plus option with
Noble in mid 120's beginning late April and ending late 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 late Mar. 2005 One assignment well from Mariner with Pioneer in low 130's
beginning late Mar. and ending early May; followed by first of
two well extension with Mariner in mid 110's beginning early
May and ending early June; followed by second well with Mariner
in low 130's beginning early June and ending mid July; followed
by three well extension with Mariner/Pioneer in low 150's
beginning mid July and ending mid Oct. 2005. Available;
actively marketing.
Ocean Valiant late Jan. 2005 mid April 2005 One well with Kerr-McGee in high 90's beginning mid April and
ending late June, followed by one well plus options with
Kerr-McGee in low 130's beginning late June and ending late
Aug. 2005; followed by 180 day term extension with Kerr-McGee
in low 150's beginning late Aug. 2005 and ending mid Feb.
2006. Available; actively marketing.
Ocean Victory mid Feb. 2005 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 mid Feb. 2005 mid Mar. 2005 One well with Walter in mid 110's beginning mid Mar. and
ending late Mar.; followed by one well with Walter in low
80's beginning late Mar. 2005 and ending late April; followed
by LOI for two wells in mid 90's beginning late April and
ending mid June; followed by LOI for one well in low 110's
beginning early Aug. and ending late Sept.; followed by LOI
for one well in low 110's beginning late Sept. and ending mid
Nov.; followed by three wells plus option in mid 120's
beginning mid Nov. 2005 and ending late Mar. 2006. Available;
actively marketing.
Ocean Concord early Feb. 2005 late Mar. 2005 One well for Kerr-McGee in upper 50's beginning late Mar. and
ending late April 2005; followed by one well with Kerr-McGee
in mid 70's beginning late April and ending late June 2005;
followed by two well extension plus option with Kerr-McGee in
mid 90's beginning late June and ending early Sept. 2005.
Available; actively marketing.
Ocean Lexington late Jan. 2005 mid April 2005 Rig will go in for approximately 90-day Survey and maintenance
between second and third well, beginning mid April and ending
mid July. Following survey, one additional well with Walter
in low 60's beginning mid July and ending mid Aug.; followed
by one well plus option with Walter in low 80's beginning mid
Sept. and ending mid Oct. 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 Nov. 2005. Available; actively marketing.
</Table>
2
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF MARCH 14, 2005
<Table>
<Caption>
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM DAYRATE (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 Cantilever GOM Contracted Kerr-McGee Five wells mid 40's
Ocean Spartan 300' Independent
Leg Cantilever GOM Contracted LLOG three wells plus option high 40's
Ocean Spur 300' Independent
Leg Cantilever GOM Contracted Spinnaker one well mid 40's
Ocean King 300' Independent
Leg Cantilever GOM Contracted El Paso one well plus option mid 50's
Ocean Nugget 300' Independent
Leg Cantilever GOM Contracted ADTI/Mission one well high 40's
Ocean Summit 300' Independent
Leg Cantilever GOM Contracted LLOG two wells plus option mid 40's
Ocean Warwick 300' Independent
Leg Cantilever GOM Contracted Newfield one well high 40's
Ocean Titan 350' Independent
Leg Cantilever GOM Contracted BHP one well plus option mid 50's
Ocean Tower 350' Independent
Leg Cantilever GOM Contracted Chevron/Texaco one well plus option mid 50's
<Caption>
RIG NAME START DATE EST. END DATE FUTURE CONTRACT AND OTHER INFORMATION
-------- ---------- ------------- -------------------------------------
DOMESTIC JACKUPS (12)
Ocean Crusader late Jan. 2005 late April 2005 Available; actively marketing.
Ocean Drake late Jan. 2005 late Mar. 2005 Two wells plus option with ADTI/CMI/Palace in low 40's
beginning late Mar. and ending mid April 2005. Available;
actively marketing.
Ocean Champion late Jan. 2005 early June 2005 Available; actively marketing.
Ocean Columbia
early Jan. 2005 mid May 2005 Available; actively marketing.
Ocean Spartan
late Feb. 2005 late June 2005 Available; actively marketing.
Ocean Spur
mid Dec. 2004 late Mar. 2005 One well with Forest in mid 40's beginning late Mar. and
ending early May 2005. Maintenance/repairs early May through
early July 2005. Available; actively marketing.
Ocean King
early Mar. 2005 mid May 2005 Available; actively marketing.
Ocean Nugget
mid Feb. 2005 late Mar. 2005 One well with Mariner in low 50's beginning late Mar. and
ending mid April 2005; followed by two wells plus option with
Houston Exploration in low 50's beginning mid April and ending
late July 2005. Available; actively marketing.
Ocean Summit
late Feb. 2005 late May 2005 Available; actively marketing.
Ocean Warwick
early Feb. 2005 mid Mar. 2005 One well with Newfield in low 50's beginning mid Mar. and
ending late April 2005. Available; actively marketing.
Ocean Titan
late Jan. 2005 mid May 2005 Available; actively marketing.
Ocean Tower
early Jan. 2005 late May 2005 One well extension plus option with Chevron/Texaco in high
60's beginning late May and ending late July 2005. Available;
actively marketing.
</Table>
3
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF MARCH 14, 2005
<Table>
<Caption>
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM DAYRATE (000S)
-------- -- ------ -------- ------- -------- ------------ --------------
INTERNATIONAL SEMISUBMERSIBLES (17)
MEXICO
Ocean Ambassador 1,100' Bethlehem SS-2000 GOM Contracted PEMEX four year term work mid 50's
Ocean
Whittington 1,500' Aker H-3 GOM Contracted PEMEX four year term work low 60's
Ocean Worker 3,500' F&G 9500
Enhanced Pacesetter GOM Contracted PEMEX four year term work high 60's
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 711 Series North Sea Contracted Shell one year high 40's
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 P&A well low 140's
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 Shipyard DODI -- -- --
Ocean General 1,640' Korkut Mobe to Viet
Nam Enroute KNOC -- --
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 Whittington late July 2003 early Oct. 2006 Available.
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 late Feb. 2005 mid Mar. 2005 Return to yard for additional storm damage repairs. Est.
completion mid April 2005. One year plus option program in
Norway with Statoil in low 140's beginning in mid April 2005
and ending in mid April 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.; followed by LOI for one well
plus option in mid 90's beginning early Oct. and ending early
Nov.; followed by LOI for four wells plus option in high 90's
beginning early Nov. 2005 and ending early May 2006. Available;
actively marketing.
Ocean Patriot late Jan. 2005 mid Mar. 2005 Two wells with Woodside in high 70's beginning mid Mar. and
ending mid April; followed by two wells plus option with Santos
in high 70's beginning mid April and ending late June; followed
by LOI for one well plus three options in high 70's beginning
late June and ending early Aug. 2005
Ocean Epoch -- -- Singapore shipyard preping for Murphy contract until early
April. Four wells plus option with Murphy in low 70's in
Malaysia beginning early April 2005 and ending early Jan. 2006.
Available; actively marketing.
Ocean General -- -- One well plus one option plus demobe with KNOC in Viet Nam in
mid 50's beginning late Mar. and ending mid May 2005; followed
by LOI for two wells plus option in mid 70's in Malaysia
beginning mid May and ending mid Aug. 2005; followed by LOI
for two wells plus option in high 70's beginning mid Aug. and
ending early Nov. 2005. Available; actively marketing.
Ocean Baroness late Dec. 2004 early May 2005 Lump sum mobe to GOM beginning early May and ending early Oct.,
including prep; followed by LOI with Amerada Hess for one-year
term plus mobe in low 200's in GOM beginning early Oct. 2005
and ending early Oct. 2006. Available; actively marketing.
Ocean Rover late Jan. 2005 mid July 2005 LOI with Murphy for 950 day extension at average dayrate in
mid 170's beginning mid July 2005 and ending mid Feb. 2008.
Available; actively marketing.
</Table>
4
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF MARCH 14, 2005
<Table>
<Caption>
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM DAYRATE (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 Cantilever Bangladesh Contracted Cairn Energy three wells plus option low 60's
Ocean Heritage 300' Independent
Leg Cantilever India Contracted Cairn Energy six wells plus options low 60's
UPGRADE (1)
Ocean Endeavor 2,000' Victory Class GOM Cold Stacked DODI -- --
COLD STACKED (1)
Ocean New Era 1,500' Korkut GOM Cold Stacked DODI -- --
ASSET HELD FOR SALE (1)
Ocean Liberator 600' Aker H-3 S. Africa Cold Stacked DODI -- --
<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 Mar. 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 (1)
Ocean New Era -- -- Cold stacked Dec. '02.
ASSET HELD FOR SALE (1)
Ocean Liberator -- -- Cold stacked Nov. '02.
</Table>