Diamond Offshore Names Marc Edwards President & CEO, A 30-Year Veteran Of The Oil & Gas Industry

Diamond Offshore Names Marc Edwards President & CEO, A 30-Year Veteran Of The
                              Oil & Gas Industry

PR Newswire

HOUSTON, Feb. 12, 2014

HOUSTON, Feb. 12, 2014 /PRNewswire/ -- Diamond Offshore Drilling, Inc.
(NYSE:DO) today appointed Marc Edwards as President and Chief Executive
Officer and as a member of the Board of Directors, effective March 3, 2014.
Mr. Edwards succeeds Lawrence Dickerson, who announced his intent to retire in
September 2013 after almost 30 years of continuous service to the Company.

(Logo: http://photos.prnewswire.com/prnh/20130725/NY53104LOGO-b)

"We are very pleased to have a proven leader with Marc's experience taking the
helm at Diamond Offshore," said James S. Tisch, Chairman of the Diamond
Offshore Board of Directors. "Marc's broad experience during his 30 year
career at Halliburton will be invaluable for continuing Diamond Offshore's
operational excellence and charting the Company's future strategic course."

"I am honored by the opportunity to lead Diamond Offshore," said Mr. Edwards.
"Diamond has an unparalleled history of value creation and superior service.
I look forward to working with Diamond's leadership team, employees and
customers worldwide to expand on Diamond's proud legacy."

Prior to joining Diamond Offshore, Mr. Edwards spent almost his entire career
at Halliburton Company, one of the world's largest and most diversified oil
field services companies. Starting as a field engineer in Kuwait in 1984, his
career took him across the globe with progressively greater management
responsibilities; as a member of Halliburton's Executive Committee, he most
recently served as Senior Vice President, responsible for the Completion and
Production Division, the largest of Halliburton's two Divisions.

ABOUT DIAMOND OFFSHORE

Diamond Offshore is a leader in offshore drilling, providing contract drilling
services to the energy industry around the globe with a total fleet of 45
offshore drilling rigs, including five rigs under construction. Diamond
Offshore's fleet consists of 33 semisubmersibles, two of which are under
construction, five dynamically positioned drillships, three of which are under
construction, and seven jack-ups. Additional information about the Company and
access to the Company's SEC filings are available at www.diamondoffshore.com.
Diamond Offshore is owned 50.4% by Loews Corporation (NYSE: L).

FORWARD-LOOKING STATEMENTS

Statements contained in this press release that are not historical facts are
"forward-looking statements" within the meaning of the federal securities
laws. Such statements include, but are not limited to, statements concerning
the appointment of Mr. Edwards and his future work with the Company and its
management. Forward-looking statements are inherently uncertain and subject
to a variety of assumptions, risks and uncertainties that could cause actual
results to differ materially from those anticipated or expected by management
of the Company. A discussion of the important risk factors and other
considerations that could materially impact these matters as well as the
Company's overall business and financial performance can be found in the
Company's reports filed with the Securities and Exchange Commission and
readers of this press release are urged to review those reports carefully when
considering these forward-looking statements. Copies of these reports are
available through the Company's website at www.diamondoffshore.com. These
factors include, among others, general economic and business conditions,
contract cancellations, customer bankruptcy, 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
risk factors, investors and analysts should not place undue reliance on
forward-looking statements. Each forward-looking statement speaks only as of
the date of this press release. The Company expressly disclaims any
obligation or undertaking to release publicly any updates or revisions to any
forward-looking statement to reflect any change in the Company's expectations
with regard thereto or any change in events, conditions or circumstances on
which any forward-looking statement is based.

Contact:
Darren Daugherty
Director, Investor Relations
(281) 492-5370

SOURCE Diamond Offshore Drilling, Inc.

Website: http://www.diamondoffshore.com
 
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