HOUSTON, Aug. 1, 2019
/PRNewswire/ -- Diamond Offshore Drilling, Inc. (NYSE: DO)
today announced the launch of its Stack-View service, a
first-of-its-kind solution that applies 24/7 real-time monitoring,
data visualization, and advanced analytics to identify trends and
detect anomalies in BOP performance across its rig fleet. The
leading indicators derived from the Company's Stack-View
service enables predictive maintenance and subsea downtime
prevention, increasing drilling productivity and lowering the total
cost of the well.
The real-time data gathered and analyzed by the underlying
technology in Stack-View is continuously overlaid or
"stacked" with historical data, then data visualization, trending,
and advanced analytics is applied to predict when BOP components
will fail or when maintenance is required. This shift to predictive
maintenance from time-based maintenance mitigates stack pulls and
maintenance-induced issues, with the ability to reduce
non-productive time by up to 50% depending on the water depth and
well complexity.
"Subsea equipment repairs and maintenance continues to be a
major contributor to a rig's non-productive time, resulting in
great expense to both drillers and operators," said Marc Edwards, President and CEO of Diamond
Offshore. "We continue to look for ways to improve operational
efficiencies and reduce operators' total cost of ownership to make
the economics of offshore drilling more competitive. With our
Stack-View service, we will be able to monitor and analyze
the health of each BOP across our fleet in real-time to make more
data-driven decisions that create further cost-savings and
performance improvement."
Developed in partnership with Deepwater Subsea, LLC, the
customized Stack-View platform and dashboards will be
accessible from any mobile device or computer and any location by
early 2020, allowing for greater transparency on BOP performance
with customers.
The Stack-View platform is fully configurable and has the
future capability to integrate with Diamond Offshore's
Sim-Stack service and its BOP failure reporting
database—both of which provide lagging indicators of BOP health and
status. Combined, these systems will provide a holistic view of a
BOP's health as well as past and future performance, allowing the
Company to transition to conditioned-based maintenance to
further reduce costs while increasing subsea equipment reliability.
Additionally, the combined solutions will support operators in
meeting BSEE's requirements for 21-day BOP pressure testing
frequency, which is a substantial benefit directly impacting the
operational efficiency of a drilling campaign.
ABOUT DIAMOND OFFSHORE
Diamond Offshore is a leader in offshore drilling, providing
contract drilling services to the energy industry around the globe.
Additional information and access to the Company's SEC filings are
available at www.diamondoffshore.com. Diamond Offshore is owned 53%
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. 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 certain 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. 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:
Samir Ali
Vice President, Investor Relations & Corporate Development
(281) 647-4035
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SOURCE Diamond Offshore Drilling, Inc.