Diamond Offshore Gives 1Q18 Cost Guidance
In 4Q17, Diamond Offshore Drilling’s (DO) drilling expenses rose 3% from the previous quarter and 17.2% from the previous year. Diamond Offshore expects its operating costs in 1Q18 to be $195 million–$200 million. The decrease in costs quarter-over-quarter could be a result of Ocean Sceptor rolling off contract in the fourth quarter and fourth quarter mobilizations of the Ocean Onyx and Ocean Sceptor.