Diamond Offshore reports 25% drop in profit

02/8/2008 | Houston Chronicle (tiered subscription model)

Diamond Offshore Drilling, owner of 30 semi-submersible rigs and a deep-water drillship, reported a 25% drop in fourth-quarter profit. Net income fell to $164.9 million, from $221.4 million a year earlier, because of one-time tax costs and reduced drilling in shallow waters of the Gulf of Mexico.

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