Recent Acquisition Expansion Diamond Offshore was recently acquired by Noble Corporation, creating the industry's largest fleet of 7th generation dual-BOP drillships with an additional $2 billion backlog, presenting an opportunity to offer integrated fleet management and advanced drilling solutions.

Growing Market Backlog With recent contracts adding $360 million of backlog and ongoing disputes over drillship marketing rights, there is potential to support Diamond Offshore with marketing services, contract negotiations, or equipment upgrades to strengthen contract retention and acquisition.

Financial and Investment Activity Diamond Offshore secured $550 million in financing in September 2023, indicating active investor interest and financial stability, which buyer-facing partners can leverage for offering tailored financing, leasing solutions, or upgrade financings.

Operational Challenges Recent equipment failures and fleet adjustments, including layoffs and rig closures, highlight opportunities for maintenance, equipment modernization, and operational efficiency solutions to minimize downtime and improve rig performance.

Technology & Innovation Diamond Offshore's early adoption of blockchain in drilling services signals openness to innovative technologies, making them a viable partner for advanced digital solutions, automation, and data-driven optimizations in offshore drilling.