In the second quarter, American Maritime Driving Services Diamond Ovchur Drling reported losses of 21. 93 million dollars, or 0. 22 dollars per share, and a net profit of 5. 51 million dollars, or 0. 5 dollars per share. Non-cash tax reductions totaling $23 million were reflected in the third quarter’s results.
The total revenue of drilling contracts during the third quarter was 190 million dollars, compared to 177 million dollars during the second quarter.
The increase in revenue was mainly driven by the start of work in the Ocean Black Hawk region in Senegal, and the benefit of the two -fossil contracts in Ocean Appx and Oshhen Patriot during the entire third quarter.
During the third quarter, the company’s overall revenues increased to $226.7 million from the second quarter’s 205.70 million.
By receiving a new drilling contract from the Brazilian oil major Petrobras in the Ucean Cordege region, Diamond of Shore claimed to have received notifications. The American business has secured a four-year work contract in the Ocean Cordeer region, with the option of a further four-year extension at an undisclosed cost. The contract is thought to be worth $419 million in total.
The third quarter saw profits of $5.51 million at Diamond Ovchur Drling in the USA.
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