The company is headquartered in Katy, Texas, United States, and has major offices in Australia, Brazil, Mexico, Scotland, Singapore, and Norway.

[8] In September 2016, seven months after discontinuing the quarterly cash dividend payment,[1] the firm was removed from the S&P 500 Index.

[9] In 2019, the company's revenues were primarily from Hess Corporation (28.9%), Occidental Petroleum (20.6%), Petrobras (19.5%), and BP (3.1%).

[10][11] The company was criticized for taking CARES Act bailout money - intended for small businesses - and, in bankruptcy court, turning it into executive bonuses.

[15] In a 2013 filing with the SEC, Diamond acknowledged that its equipment had been used for the "manufacture and use of asbestos-containing drilling mud" but sought to be indemnified from liability.