-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, TINw1mGZXVPe44rywfaU/lh0FtVKN/lVqyghm5FajyDPDyil15tA2/wZZ1ByCg9W SdpL0h44J/5tgYgwAV3vxQ== 0000909518-02-000321.txt : 20020425 0000909518-02-000321.hdr.sgml : 20020425 ACCESSION NUMBER: 0000909518-02-000321 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020425 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020425 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DIAMOND OFFSHORE DRILLING INC CENTRAL INDEX KEY: 0000949039 STANDARD INDUSTRIAL CLASSIFICATION: DRILLING OIL & GAS WELLS [1381] IRS NUMBER: 760321760 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13926 FILM NUMBER: 02620947 BUSINESS ADDRESS: STREET 1: 15415 KATY FREEWAY CITY: HOUSTON STATE: TX ZIP: 77094 BUSINESS PHONE: 7134925300 MAIL ADDRESS: STREET 1: 15415 KATY FREEWAY CITY: HOUSTON STATE: TX ZIP: 77094 8-K 1 mv4-25_8k.txt SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report: APRIL 25, 2002 --------------------------------------------------------------- Date of earliest event reported: APRIL 22, 2002 ---------------------------------------------- DIAMOND OFFSHORE DRILLING, INC. - -------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in Charter) DELAWARE 1-13926 76-0321760 - -------------------------------------------------------------------------------- (State or Other (Commission File Number) (IRS Employer Jurisdiction Identification No.) of Incorporation) 15415 KATY FREEWAY, HOUSTON, TEXAS 77094 - -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code (281) 492-5300 --------------------------- NOT APPLICABLE - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) INFORMATION TO BE INCLUDED IN THE REPORT ITEM 5. OTHER EVENTS On April 25, 2002, Diamond Offshore Drilling, Inc., a Delaware corporation (the "Company"), issued a press release announcing that the Company's drilling rig the Ocean Baroness had experienced a parting of its marine riser during operations offshore Malaysia on April 22, 2002. The drilling unit is undamaged, and currently known damage is limited to subsurface elements of the riser. The Company is currently in consultation with the riser manufacturer, its customer and several contractors in order to develop a recovery and repair plan. At this time, the Company cannot be definitive about the duration of its recovery and remediation efforts. Filed herewith is 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 regarding the current term, operating dates and periods of inactivity of the Company's drilling rigs and comments concerning future contracts and availability, insurance, actual or potential damage, recovery and remediation efforts and other aspects of the Company's drilling rigs. 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. A 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 filed with the Securities and Exchange Commission. These factors include, among others, general economic and business conditions, 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 reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of this report, and the Company undertakes no obligation to publicly update or revise any forward-looking statements. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (c) Exhibits. Exhibit number Description -------------- ----------- 99.1 Press release of April 25, 2002 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, 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/ Gary T. Krenek ---------------------------------------- Gary T. Krenek Vice President & Chief Financial Officer Dated: April 25, 2002 3 EXHIBIT INDEX Exhibit number Description -------------- ----------- 99.1 Press release of April 25, 2002 4 EX-99 3 mv425-ex991.txt EXHIBIT 99.1 ------------ FOR IMMEDIATE RELEASE CONTACT: Caren W. Steffes Thursday, April 25, 2002 (281) 492-5393 OCEAN BARONESS EXPERIENCES FAILURE OF RISER CONNECTION Houston, Texas, April 25, 2002 - Diamond Offshore Drilling, Inc. (NYSE: DO) announced today that the Ocean Baroness experienced a parting of its marine riser during operations offshore Malaysia on April 22, 2002 in 5,700 feet of water. No injuries were sustained in this incident and the well has been secured without incident and successfully plugged. The drilling unit is undamaged. Known damage is limited to subsurface elements of the riser. Damage to the blow out preventer is not evident; however, a detailed inspection will be required following recovery operations. It appears from video taken by underwater cameras that bolt assemblies failed at a riser connection, causing the riser to separate. Presently the riser is parted approximately 2,300 feet below the surface of the water and is supported both by the rig's riser tensioning system and drillpipe, which extends from the rig floor, past the separation and through the well head. The Company is currently in consultation with the riser manufacturer, its customer and several contractors in order to develop a recovery and repair plan. At this time, the Company cannot be definitive about the duration of its recovery and remediation efforts. However, the Company believes successful recovery and repair of the subsea equipment can be conducted. The Ocean Baroness departed the shipyard and began its 120-day contract on March 17, 2002, and had operated successfully prior to the riser failure. Diamond Offshore is a leader in deep water drilling. The Company's fleet of 45 offshore drilling rigs consists of 30 semisubmersibles, 14 jack-ups and one drillship. The fleet operates in the waters of six of the world's seven continents. Statements in this press release that contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. A 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 filed with the Securities and Exchange Commission. Given these concerns, investors and analysts should not place undue reliance on forward-looking statements. 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. -----END PRIVACY-ENHANCED MESSAGE-----