Prospectus Supplement                           Filed Pursuant to Rule 424(b)(3)
(To Prospectus dated October 12, 2000)             Registration Number 333-44960


                                  $805,000,000

                         Diamond Offshore Drilling, Inc.

               Zero Coupon Convertible Debentures Due June 6, 2020

                   -------------------------------------------

           This prospectus supplement relates to the resale by the holders of
our Zero Coupon Convertible Debentures Due June 6, 2020 and the shares of our
common stock issuable upon the conversion of the debentures.

           This prospectus supplement should be read in conjunction with, and
may not be delivered or utilized without, the prospectus dated October 12, 2000.
The terms of the debentures are set forth in the prospectus.

           The information in the table appearing under the heading "Selling
Securityholders" in the prospectus is amended by adding the information below
with respect to persons not previously listed in the prospectus and by
supplementing the information with respect to other persons previously listed in
the prospectus that are listed below.



                                                   PRINCIPAL AMOUNT AT                                      NUMBER OF
                                                  MATURITY OF DEBENTURES          PERCENTAGE OF            CONVERSION
                                                    BENEFICIALLY OWNED              DEBENTURES             SHARES THAT
NAME                                                 THAT MAY BE SOLD              OUTSTANDING             MAY BE SOLD
- ----                                                 ----------------              -----------             -----------
                                                                                                 
Deutsche Banc Alex. Brown Inc. ................   $       16,000,000                  1.99%                    137,720

Total (1)......................................   $      805,000,000                 100.00%              6,929,004 (2)




- ------------------------
(1)   Information concerning other selling holders of Debentures will be set
      forth in prospectus supplements from time to time, if required.

(2)   The conversion shares do not total 6,929,038 shares due to rounding
      resulting from the elimination of fractional shares.

                     --------------------------------------

             The date of this prospectus supplement is May 24, 2001.