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Kyle 06-08-2010 09:19 PM

Diamond Offshore Oil Leak?
Diamond Offshore Drilling owns a rig in the Gulf of Mexico called the Ocean Saratoga and there are rumors circulating the Saratoga may be leaking oil into the Gulf.
If this is confirmed, this will be the second oil leak this year and Diamond Offshore will be in huge trouble.
Its share went down today because of this.
Is the oil leak rumor true? What did Diamond Offshore say about this?

Amiyah 06-08-2010 09:34 PM

Businessinsider reported that a pilot who flew over the area confirmed an oil plume originating from the Diamond Offshore rig.
So it could be true.

On top of the leak rumors, Diamond Offshore also was downgraded to “Sell” from “Hold” by Goldman Sachs and to “Underperform” from “Market Perform” by FBR Capital. By mid-afternoon Tuesday, shares were down 7 percent, trading around $55, after having reached the new low of $54.70 earlier in the day.

Diamond Offshore Drilling Inc said it was unable to comment on reports of the leak near its Ocean Saratoga rig in the Gulf of Mexico.
Gary Krenek, Diamond's chief financial officer, said while his company was required to report spills off the rig itself, and had not done so, the company was contractually unable to discuss anything further.

An environmental group reported seeing crew onboard a boat pumping dispersants into the water near the Saratoga on Saturday.

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