Diamond Offshore Drilling, Inc. Provides Depreciation Guidance for the Fourth Quarter and Capital Expenditure Guidance for the Full Year of 2013
October 24, 2013 at 10:00 am
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Diamond Offshore Drilling, Inc. provided depreciation guidance for the fourth quarter and capital expenditures guidance for the full year of 2013. For the quarter, depreciation should continue at the $97 million to $100 million level. The company expects to capitalize approximately $20 million of gross interest expense. Tax rate remains unchanged at the 27% to 29%.
For the full year of 2013, the company does not expect a change for the company's maintenance capital estimate of $325 million, and new-build capital expenditures should be approximately $1.1 billion. Together, total capital expenditures should come in around $1.425 billion.
Diamond Offshore Drilling, Inc. provides offshore drilling services. The Company provides contract drilling services to the energy industry around the globe with a fleet of approximately 13 offshore drilling rigs, consisting of four owned drill ships, seven owned semisubmersible rigs and two managed rigs. The Company also provides management and marketing services. It provides offshore drilling services to a customer base that includes independent oil and gas companies and government-owned oil companies. The Company's fleet enables it to offer services in the floater market on a worldwide basis. The principal markets for its offshore contract drilling services are the Gulf of Mexico, including the United States, and Mexico; Canada; South America, principally offshore Brazil; Australia and Southeast Asia; Europe, principally offshore the United Kingdom; East and West Africa, and the Mediterranean. Its semisubmersible rigs include Ocean Apex, Ocean Onyx, Ocean Valiant and Ocean Patriot.