Diamond Offshore dives into the red in 4Q

Houston-based offshore driller Diamond Offshore sank to a loss in the fourth quarter of 2017 as its revenues decreased compared to the same period of 2016. 

The driller on Monday posted a net loss of $31.94 million for the fourth quarter of 2017 compared to a profit of $116.1 million in the same period of 2016.

Diamond’s revenues in the fourth quarter of 2017 dropped to $346.2 million from $391.87 million in the prior-year quarter.

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