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Driller's fortunes flip

DIAMOND Offshore has returned to profit after its Ocean GreatWhite rig built for the Great Australian Bight was put on standby in the prior quarter, with a backlog of 22 rig years of work ahead of the US deepwater drilling concern.

Anthony Barich
Ocean GreatWhite.

Ocean GreatWhite.

The company posted a $US15.9 million ($A19.9 million) profit for the second quarter of 2017, an impressive turnaround from a net loss of $589 million in the June quarter of 2016.   Diamond Offshore's...

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