UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): AUGUST 30, 2005
DIAMOND OFFSHORE DRILLING, INC.
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(Exact Name of Registrant as Specified in Charter)
DELAWARE 1-13926 76-0321760
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(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
15415 KATY FREEWAY
HOUSTON, TEXAS 77094
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(Address of Principal Executive Offices and Zip Code)
Registrant's telephone number, including area code: (281) 492-5300
NOT APPLICABLE
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(Former name or former address, if changed since last report)
Check the appropriate line below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
ITEM 8.01. OTHER EVENTS
On August 30, 2005, Diamond Offshore Drilling, Inc. (the "Company") issued
a press release announcing that the jack-up drilling rig Ocean Warwick could not
be found on its drilling location during a search by fixed-wing aircraft early
that morning. The press release indicated that the rig was located on Main Pass
Block 299, approximately 12 miles off the coast of Louisiana in about 200 ft. of
water prior to passage of hurricane Katrina, and that additional search efforts
were under way in an attempt to determine the disposition of the 300-ft.
independent cantilever rig. The Warwick is insured for approximately $50 million
net of applicable deductibles and has a book value of approximately $14 million.
In addition, the press release indicated that the semisubmersible drilling
rig Ocean Voyager broke free from its moorings in the aftermath of hurricane
Katrina and had been located approximately 9 miles north of its pre-storm
location on Mississippi Canyon Block 711. A limited crew re-boarded the Ocean
Voyager in order to secure the unit and to further assess its condition. The
U.S. Coast Guard has been notified of both situations.
The press release reported that the Voyager and Warwick had been secured
and personnel evacuated prior to hurricane Katrina passing through the area and
that initial fly-bys of other Company rigs in the path of hurricane Katrina did
not indicate any damage; however, the Company will not be able to make a
complete assessment of the condition of all of its rigs until personnel are able
to re-board the units over the next few days.
Filed herewith is a copy of such press release.
Statements in this report that 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, may include, but
are not limited to, statements concerning the location of the Company's drilling
rigs, related search efforts, insurance, condition and damage assessments,
securing the rigs, damages to the Company's drilling rigs and re-boarding the
rigs. Forward-looking statements include, without limitation, statements which
project, indicate or imply future results and may contain words like "expect,"
"intend," "plan," "will," "would," "estimated" and "budgeted," among others.
Such statements are inherently subject to a variety of risks and uncertainties
that could cause actual results to differ materially from those anticipated or
projected. These factors include, among others, potential damage to or loss of
equipment and resulting loss of contracted revenue due to hurricane Katrina, as
well as general economic and business conditions, changes in oil and natural gas
prices, 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
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reliance on forward-looking statements. Each forward-looking statement speaks
only as of the date of this report. 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. A further 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 filings
with the Securities and Exchange Commission.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
Exhibit number Description
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99.1 Press release of August 30, 2005
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
DIAMOND OFFSHORE DRILLING, INC.
By: /s/ William C. Long
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William C. Long
Vice President, General Counsel and
Secretary
Dated: August 30, 2005
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EXHIBIT INDEX
Exhibit number Description
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99.1 Press release of August 30, 2005