Diamond Offshore sinks to loss in 3Q

Houston-based offshore driller Diamond Offshore has sunk to a net loss for the third quarter 2018, more than $60 million away from the $10.8 million profit the company reported in 3Q 2017.

Diamond Offshore reported a $51 million loss in its 3Q financial report on Monday which was far from the $10.8 million profit posted in the same period of the year in 2017.

Revenues for the company decreased in the quarter as this year’s 3Q revenues stood at $286.3 million while the revenues for the same quarter last year were $366 million.

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