8-K

UNITED STATES
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 (Date of earliest event reported): September 17, 2007

Diamond Offshore Drilling, Inc.

(Exact Name of Registrant as Specified in Charter)

Delaware	1-13926	76-0321760
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

15415 Katy Freeway
Houston, Texas 77094

(Address of Principal Executive Offices and Zip Code)

Registrant’s telephone number, including area code: (281) 492-5300

Not Applicable

(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:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

	Item 7.01. Regulation FD Disclosure
	Item 9.01. Financial Statements and Exhibits
SIGNATURES
EXHIBIT INDEX
Rig Status Report as of September 17, 2007

Item 7.01. Regulation FD Disclosure

     Diamond Offshore Drilling, Inc. (the “Company”) hereby incorporates by reference into this Item 7.01 the summary report of the status, as of September 17, 2007, of the Company’s offshore drilling rigs attached as Exhibit 99.1, which is being furnished in accordance with Rule 101(e)(1) under Regulation FD and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and will not be incorporated by reference into any registration statement filed under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated by reference.

     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, include, but are not limited to, statements regarding the current term, future dayrates, start and end dates and comments concerning future contracts and availability, letters of intent, utilization, surveys, downtime and other aspects of the Company’s drilling rigs, as well as statements concerning rigs being upgraded or to be upgraded and rigs under construction. Such statements are inherently subject to a variety of assumptions, 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 and other documents filed with the Securities and Exchange Commission. These factors include, among others, general economic and business conditions, operating risks, 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 the rig status report, and the Company undertakes no obligation to publicly update or revise any forward-looking statement.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

Exhibit number	Description
99.1	Rig Status Report as of September 17, 2007

2

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Company 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
	William C. Long
	Senior Vice President, General Counsel and Secretary

Dated: September 17, 2007

3

EXHIBIT INDEX

Exhibit number	Description
99.1	Rig Status Report as of September 17, 2007

4

EX-99.1

1

Exhibit 99.1

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF September 17, 2007

						Dayrate
Rig Name	WD	Location	Status	Operator	Current Term	(000s)	Start Date	Est. End Date	Future Contracts and Other Information*
RECENT COMMITMENTS — (See Body of Report For Contract Details/Date Changes and Other Information)
Domestic Deepwater Semisubmersibles (8)
Ocean Quest	3,500’	GOM	Contracted	Noble	two year term + option	mid 350’s	mid April 2007	mid June 2009	Available; actively marketing.
Ocean Star	5,500’	GOM	Contracted	Anadarko	term extension	mid 380’s	early Jan. 2007	early Jan. 2008	One-year term extension, plus option, with Anadarko in mid 410’s beginning in early Jan. 2008 and ending in early Jan. 2009. Available; actively marketing.
Ocean America	5,500’	GOM	Contracted	ENI	assignment from Mariner	mid 420’s	mid May 2007	early Nov. 2007	Rate adjustment with ENI to mid 470’s beginning early Nov. and ending early Dec. 2007; resume work with Mariner early Dec. 2007 in mid 370’s until mid-May 2008, plus option. Available; actively marketing.
Ocean Valiant	5,500’	GOM	Contracted	Anadarko	one year term extension	mid 390’s	mid Mar. 2007	mid Mar. 2008	Survey; followed by one-year term extension with Anadarko in mid 420’s beginning mid April 2008 and ending mid April 2009. Available; actively marketing.
Ocean Victory	5,500’	GOM	Contracted	Murphy	two year term ext. + option	mid 320’s	early Dec. 2006	mid Jan. 2009	Survey beginning late Nov. 2007 and ending early Jan. 2008; followed by completion of Murphy contract ending mid Jan. 2009; followed by one well, plus option, with Newfield in low 300’s (swap from Voyager contract in low 300’s) beginning mid Jan. 2009 and ending late Feb. 2009. Available; actively marketing.
Ocean Baroness	7,000’	GOM	Contracted	DODI	special survey and maintenance	—	—	late Sept. 2007	Current Hess contract is three year term + option ending mid Feb. 2010. Available; actively marketing.
Ocean Endeavor	10,000’	GOM	Contracted	Devon	four year term + option	low 250’s	early July 2007	late June 2011	Available.
Ocean Confidence	7,500’	GOM	Contracted	BP	two year term	low 280’s	early Jan. 2006	early Jan. 2008	Four-year term with Murphy in the GOM in the low 500’s beginning January 2008 and ending January 2012. Available; actively marketing.
Domestic 2nd/3rd Generation Semisubmersibles (6)
Ocean New Era	1,500’	GOM	Contracted	DODI	prep and mobe for Pemex	—	—	early Oct. 2007	2-1/2 year term with Pemex in mid 260’s beginning early Oct. 2007 and ending mid Feb. 2010. Available; actively marketing.
Ocean Voyager	2,000’	GOM	Contracted	DODI	prep and mobe for Pemex	—	—	mid Oct. 2007	2-1/2 year term with Pemex in mid 330’s beginning mid Oct. 2007 and ending late Feb. 2010. Available; actively marketing.
Ocean Yorktown	2,850’	GOM	Contracted	DODI	prep, mobe and acceptance test for Brazil	—	—	mid May 2008	Five-year term contract with Petrobras in Brazil in mid 230’s plus lump sum mobe and potential 15% bonus beginning in mid May 2008 and ending in mid May 2013. Available.
Ocean Concord	2,200’	GOM	Contracted	DODI	prep and mobe for Petrobras	—	—	mid Dec. 2007	Prep and lump-sum mobe to Brazil, plus acceptance test; followed by five-year contract with Petrobras in low 230’s plus potential 15% performance bonus beginnning mid Dec. 2007 and ending mid Dec. 2012. Available.
Ocean Worker	3,500’	GOM	Contracted	DODI	survey, prep and mobe for Trinidad	—	—	late Oct. 2007	Six-month term with Petro-Canada in Trinidad in the low 450’s beginning late Oct. 2007 and ending late May 2008. Available; actively marketing.
Ocean Saratoga	2,200’	GOM	Contracted	LLOG	six month term + option	low 120’s	late April 2007	late Oct. 2007	Six-month extension with LLOG in low 300’s beginning late Oct. 2007 and ending late April 2008. Available; actively marketing.

2

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF September 17, 2007

						Dayrate
Rig Name	WD	Location	Status	Operator	Current Term	(000s)	Start Date	Est. End Date	Future Contracts and Other Information*
Domestic Jackups (8)
Ocean Crusader	200’ MC	GOM	—	DODI	Survey and maintenance	—	—	mid Oct. 2007	Available; actively marketing.
Ocean Drake	200’ MC	GOM	Contracted	Walter	one well	low 60’s	late Aug. 2007	mid Oct. 2007	Available; actively marketing.
Ocean Champion	250’ MS	GOM	Contracted	Tana	two wells	low 70’s	late Aug. 2007	mid Oct. 2007	Available; actively marketing.
Ocean Columbia	250’ IC	GOM	—	DODI	Prep, maintenance and mobe to Mexico	—	—	late Nov. 2007	1-1/2 year term with Pemex in mid 120’s beginning late Nov. 2007 and ending mid June. 2009. Available; actively marketing.
Ocean Spartan	300’ IC	GOM	Contracted	Apache	two wells	low 70’s	mid July 2007	late Sept. 2007	Available; actively marketing.
Ocean Summit	300’ IC	GOM	Contracted	Newfield	one well	mid 60’s	mid Sept. 2007	late Sept. 2007	Available; actively marketing.
Ocean Titan	350’ IC	GOM	Contracted	Apache	two well extension	low 80’s	mid Sept. 2007	mid Nov. 2007	Available; actively marketing.
Ocean Tower	350’ IC	GOM	Contracted	Chevron	two year term extension + option	low 140’s	late April 2006	late April 2008	Special survey and maintenance beginning late Oct. and ending late Nov. 2007. Indexed term contract with floor in low 140’s and ceiling in low 200’s. Available; actively marketing.
International Semisubmersibles (16)
MEXICO
Ocean Ambassador	1,100’	GOM	Contracted	PEMEX	four year term work	mid 50’s	late July 2003	mid Dec. 2007	Available; actively marketing.
NORTH SEA/MED
Ocean Nomad	1,200’	North Sea	Contracted	Talisman	18-month extension	mid 280’s	early Feb. 2007	early Aug. 2008	Two-year term extension with Talisman in mid 330’s beginning early Aug. 2008 and ending early Aug. 2010. Available; actively marketing.
Ocean Guardian	1,500’	North Sea	Contracted	Oilexco	two year term	mid 350’s	early June 2007	early June 2009	Available; actively marketing.
Ocean Princess	1,500’	North Sea	Contracted	Talisman	two year term	mid 150’s	late Jan. 2006	mid Feb. 2008	Two-year term extension with Talisman in mid 330’s beginning mid Feb. 2008 and ending mid Feb. 2010. Available; actively marketing.
Ocean Vanguard	1,500’	North Sea	Contracted	Statoil	term	mid 160’s	early April 2007	mid April 2008	Two year extension plus option with Statoil in low 400’s beginning mid April 2008 and ending mid April 2010. Available; actively marketing.
Ocean Lexington	2,200’	Egypt	Contracted	BP	36 month term + option	mid 260’s	late Nov. 2006	late Aug. 2009	Available; actively marketing.

3

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF September 17, 2007

						Dayrate
Rig Name	WD	Location	Status	Operator	Current Term	(000s)	Start Date	Est. End Date	Future Contracts and Other Information*
AUSTRALASIA
Ocean Bounty	1,500’	Australia	Contracted	Woodside	five wells	mid 100’s	early May 2007	early Feb. 2008	One-year term with Woodside in low 350’s beginning early Feb. 2008 and ending early Feb. 2009. Available; actively marketing.
Ocean Patriot	1,500’	New Zealand	Contracted	Australian Worldwide	two wells	mid 370’s	mid Aug. 2007	late Sept. 2007	Remainder of New Zealand work with Santos in mid 370’s beginning late Sept. and ending late Dec. 2007; followed by survey, maintenance and mobe to Bass Strait; followed by last option well exercised with Anzon in low 350’s beginning early Feb. 2008 and ending mid Mar. 2008; followed by remainder of Santos term plus option in mid 370’s beginning mid Mar. 2008 and ending mid Oct. 2008; followed by two-year term contract in Australia at a dayrate between 380,000 and 420,000*** with Apache, plus option, beginning mid Oct.. 2008 and ending mid Oct. 2010. Available; actively marketing.
Ocean Epoch	1,640’	Australia	Contracted	Shell	term program plus option	mid 220’s	early April 2006	early Jan. 2008	One year term contract with Apache in Australia at a dayrate between 330,000 and 365,000*** beginning early Jan. 2008 and ending early Jan. 2009; followed by 550-day term contract in Australia in low 350’s with BHPB, plus option, beginning early Jan. 2009 and ending mid July 2010. Available; actively marketing.
Ocean General	1,640’	Indonesia	mobing to Timor Sea	Inpex	three wells	mid 130’s	early May 2007	early Dec. 2007	Two additional wells with Inpex in mid 170’s beginning early Dec. 2007 and ending mid April. 2008. Available; actively marketing.
Ocean Rover	7,000’	Malaysia	Contracted	Murphy	remaining Kikeh development wells	mid 180’s	late Feb. 2007	late April 2008	Seven option wells of approximately 30-days each with Murphy in mid 240’s ending mid Dec. 2008; followed by one well with Newfield in Malaysia in low 450’s beginning mid Dec. 2008 and ending late Jan. 2009; followed by two-year term with Murphy in Malaysia in low 450’s beginning late Jan. 2009 and ending late Jan. 2011. Available; actively marketing.
BRAZIL
Ocean Yatzy	3,300’	Brazil	Contracted	Petrobras	four year extension plus potential bonus	mid 110’s	early Oct. 2005	early Oct. 2009	Available.
Ocean Whittington	1,500’	Brazil	Contracted	Petrobras	five year term plus potential bonus	mid 220’s	late Aug. 2007	early Oct. 2012	Available.
Ocean Winner	3,500’	Brazil	Contracted	Petrobras	700 day extension	low 110’s	mid Mar. 2006	mid Mar. 2010	Available.
Ocean Alliance	5,000’	Brazil	Contracted	Petrobras	four year extension plus potential bonus	mid 150’s	early Sept. 2005	early Sept. 2009	Available.
International Drillships (1)
Ocean Clipper	7,500’	Brazil	Contracted	Petrobras	five year extension plus potential bonus	low 180’s	mid Dec. 2005	mid Dec. 2010	Available.

4

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF September 17, 2007

						Dayrate
Rig Name	WD	Location	Status	Operator	Current Term	(000s)	Start Date	Est. End Date	Future Contracts and Other Information*
International Jackups (5)
Ocean Sovereign	300’ IC	Indonesia	Contracted	Kodeco	18-month term + option	mid 90’s	mid Oct. 2006	mid-April 2008	Available; actively marketing.
Ocean Spur	300’ IC	Eqypt	Contracted	NOSPCO	180-day term	high 150’s	mid May 2007	late Jan. 2008	Intermediate survey; followed by one well with Gaz de France in Egypt in low 190’s beginning early Feb. 2008 and ending late Mar. 2008. Available; actively marketing.
Ocean Heritage	300’ IC	Qatar	Contracted	QPD	two wells + option	mid 170’s	late Aug. 2007	mid Jan. 2008	Available; actively marketing.
Ocean King	300’ IC	Croatia	DODI	—	survey and maintenance	—	—	mid Nov. 2007	Survey and maintenance ending mid Nov. 2007; followed by two-year bareboat charter with Crosco in high 100’s beginning mid Nov. 2007 and ending mid Nov. 2009. Available; actively marketing.
Ocean Nugget	300’ IC	GOM	Contracted	Pemex	term contract	high 160’s	early Oct 2006	late Mar. 2009	Available; actively marketing.
Upgrade (1)
Ocean Monarch	2,200’	Shipyard	Upgrading	DODI	—	—	—	—	Singapore shipyard for upgrade to 10,000 ft. capable 5th Generation rig. Estimated completion, including commissioning and mobe, late fourth quarter 2008; followed by four-year term, plus mobe, plus option, with Anadarko in the GOM in the mid 420’s beginning mid Jan. 2009 and ending mid Jan. 2013. Available.
New-build Rigs Under Construction (2)
Ocean Shield	350’ IC	Shipyard	—	—	—	—	—	—	Singapore shipyard, estimated completion Q1 2008; followed by one-year term in Australia with ENI in mid 260’s beginning upon delivery in the first quarter of 2008. Available; actively marketing.
Ocean Scepter	350’ IC	Shipyard	—	—	—	—	—	—	Brownsville shipyard, estimated completion Q2 2008. Available; actively marketing.

NOTES: *Generally, rig utilization rates approach 95-98% during contracted periods; however, utilization rates can be adversely impacted by additional downtime due to unscheduled repairs and maintenance, weather conditions and other factors. **An LOI is subject to customary conditions, including the execution of a definitive agreement, and as such may not result in a binding contract. Options are un-priced and any extension of contract is subject to mutually agreeable terms and conditions unless otherwise indicated. Indexed contracts generally reprice every 30 days. Mobe revenues (if any) and mobe expenses are deferred, and generally are amortized over the life of the contract. GOM = Gulf of Mexico. ***Dayrate range disclosed pursuant to terms of contract.

5

DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF September 17, 2007

Forward-Looking Statements: The rig status report may 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. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements, and may contain or be identified by the words “expect,” “intend,” “plan,” “predict,” “anticipate,” “estimate,” “believe,” “should,” “could,” “may,” “might,” “will,” “will be,” “will continue,” “will likely result,” “project,” “budget,” “forecast,” and similar expressions. Statements by the Company in the rig status report that contain forward-looking statements include, but are not limited to, statements regarding the current term, future dayrates, start and end dates and comments concerning future contracts and availability, letters of intent, utilization, surveys, downtime and other aspects of the Company’s drilling rigs, as well as statements concerning rigs being upgraded or to be upgraded and rigs under construction. Such statements are inherently subject to a variety of assumptions, 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 and other documents filed with the Securities and Exchange Commission. These factors include, among others, general economic and business conditions, operating risks, 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 the rig status report, and the Company undertakes no obligation to publicly update or revise any forward-looking statement.