July 26 - Houston Chronicle - There are few benefits to be gained from more consolidation in the offshore drilling industry and enough work for even smaller drillers to thrive without it, a top Diamond Offshore Drilling executive said Thursday.
Yet the entire industry has had to give mergers more thought since Monday's announcement that industry titans Transocean and Global- SantaFe Corp. had agreed to join forces, he said.
"Certainly, everybody is re-looking at it in light of the recently announced transaction," Larry Dickerson, Diamond Offshore's president, said in a conference call Thursday morning to discuss the company's quarterly financial results. Read More.
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