Exhibit 99.1 Contact: Kevin Bordosky Senior Director, Investor Relations (281) 647-4035 Diamond Offshore Reports Fourth Quarter 2023 Results HOUSTON, February 27, 2024 — Diamond Offshore Drilling, Inc. (NYSE: DO) today reported the following results for the fourth quarter of 2023: | Thousands of dollars, except per share data | | | Three Months Ended | | | --- | --- | --- | --- | --- | | | December 31, 2023 | | | September 30, 2023 | | Total revenues | $ | 297,637 | $ | 244,958 | | Operating income | | 44,9 ...

Diamond Offshore Drilling (DO) secured a new contract with Serica Energy in the United Kingdom and a contract extension with a subsidiary of BP in the U.S. Gulf of Mexico. The two contracts represent $360 million of additional backlog for the company.The two-year contract extension with a subsidiary of BP for the Ocean BlackLion drillship, in the U.S. Gulf of Mexico, represents $350 million of additional backlog. The contract is scheduled to start in September 2024, in continuation of the rig’s current prog ...

HOUSTON, Feb. 8, 2024 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE: DO) today announced that it has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the Ocean BlackLion, commencing in September 2024 in direct continuation of the rig's current contract. This contract extension represents approximately $350 million dollars of additional backlog. Additionally, the Company has entered into a drilling contract with Serica Energy (UK) Limited to utilize the Oc ...

HOUSTON, Feb. 6, 2024 /PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE: DO) announced today that it will release its fourth quarter 2023 operating results on Tuesday, February 27, 2024 after the market closes. The Company has scheduled a conference call and webcast for Wednesday, February 28, 2024 at 8:00 a.m. CDT to discuss the Company's results of operations. ABOUT DIAMOND OFFSHOREDiamond Offshore is a leader in offshore drilling, providing innovation, thought leadership and contract drilling service ...

David Smith Operator I am pleased to report that our rig crews and operations support team delivered exceptional safety results, with revenue efficiency of 95% across our fleet during the quarter. This efficiency number is notable, given the high number of transitions within the fleet as some rigs departed shipyards and commenced new contracts, while others finished contracts and commenced shipyard projects. A big thank you to our teams for their commitment to our safety pledge on our safety to protect all. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-13926 DIAMOND OFFSHORE DRILLING, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of i ...

Financial Data and Key Metrics Changes - For Q2 2023, the company reported total revenue of $282 million and adjusted EBITDA of $36 million, reflecting growth compared to previous quarters [8][49] - Net income for the quarter was $239 million, translating to $2.29 per diluted share, influenced by a recorded tax benefit of $243 million [37][70] - Contract drilling expenses increased to $213 million, up from $173 million in the prior quarter, primarily due to higher costs associated with the APEC being in the shipyard [50] Business Line Data and Key Metrics Changes - Revenue excluding reimbursable revenue for Q2 was $265 million, up from $214 million in the prior quarter, driven by the Endeavor and GreatWhite being on contract for the full quarter [48] - Adjusted EBITDA for Q2 was $36 million, compared to $22 million in Q1, exceeding guidance due to the timing of the Patriot termination fee recognition [49] - The company achieved a revenue efficiency of 96% across its fleet during the quarter [15] Market Data and Key Metrics Changes - The market outlook indicates a tightening rig supply and improving day rates across multiple asset classes, suggesting a strong upcycle [13][22] - Demand for offshore rigs is increasing, with operators contracting rigs for longer terms and with longer lead times, indicating a shift in procurement behavior [23] - The average day rate in the 2024 backlog is projected at $321,000 per day, compared to $285,000 per day year-to-date in 2023 [57] Company Strategy and Development Direction - The company is focused on maintaining a disciplined approach to securing contracts, ensuring recovery of reactivation costs and delivering meaningful cash flow [29] - There is a commitment to upgrading rigs with managed pressure drilling systems to enhance competitiveness in the market [26] - The company anticipates significant EBITDA improvement beginning in Q4 2023, supported by a strong pipeline of opportunities [46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the market's strength, citing persistent strong commodity pricing and significant subsea infrastructure commitments [22] - The company expects to see substantial growth in EBITDA and cash flow generation in 2024, with only two planned out-of-service periods for SPSs compared to five in 2023 [60] - Management noted that the constrained supply of ready-to-work rigs and high specifications of their fleet position the company well for future opportunities [42] Other Important Information - The company secured over $229 million in additional backlog during the quarter, enhancing visibility for 2024 revenue streams [12] - Sustainability reporting has been improved to better measure and assess operational footprints, with a recent publication of the 2022 sustainability report [21] Q&A Session Summary Question: Future opportunities for the Ocean GreatWhite - Management is confident that the client will exercise most, if not all, of the options on the Ocean GreatWhite, with expectations for future work in various regions [86] Question: Contracting capacity beyond visibility - Management confirmed that operators are willing to contract capacity beyond their immediate visibility to ensure availability for future drilling programs [80] Question: Balance sheet optimization thoughts - Management is exploring options for optimizing the balance sheet, including potential new financing structures, but noted that there is no urgency due to the lack of immediate maturities [82] Question: Opportunities for moored semis - Management indicated that there are several opportunities for moored assets in West Africa and the Mediterranean, with a focus on near-term contracts [98] Question: Health for sale decision on the Monarch rig - Management clarified that the Monarch remains held for sale, with ongoing evaluations of opportunities that could justify bringing it back to the market [107]

Forward Looking Statements The Company uses non-generally accepted accounting principles ("non-GAAP") financial measures in this presentation. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position or cash flows that excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. Management believes that an analysis of this data is meaningful to investors b ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-13926 DIAMOND OFFSHORE DRILLING, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorp ...

Looking ahead to the second quarter, we expect contract drilling revenue excluding reimbursables, of $240 million to $250 million and adjusted EBITDA of $20 million to $25 million. While the Ocean GreatWhite and Ocean Endeavor have returned to work and should contribute with a full quarter of activity, that growth in EBITDA is offset by the Ocean Apex spending the second quarter in the shipyard for its special hull survey and certain upgrades returning to work in early Q3. And consistent with my comments fr ...