Admittedly, I was somewhat perplexed to see leading offshore driller Diamond Offshore Drilling's stock sell off after reporting an in-line Q1/2019 and disclosing a decent amount of new contract awards, including more than four years of drillship work. After already losing 6% on Monday, the stock plunged another 10% in Tuesday's session, mostly due to an uninspiring first quarter report and outlook by industry leader Transocean ( RIG ).