Diamond Offshore (DO - Get Report) is global offshore oil and gas drilling contractor specializing in deep water projects. The company has struggled along with the rest of the oil and gas services complex in the last year as the weakness in Europe has resulted in lower commodity prices and a stronger U.S. dollar. Brent crude oil is trading at 52-week lows and shows no signs of rebounding anytime soon.
But Diamond Offshore is controlled by a very savvy group of investors, the Tisch family, with James Tisch in place as the company's chairman. Loews (L) owns a majority of Diamond Offshore stock.
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