While the oil price crash lasted from the middle of 2014 to early 2016, the market for offshore rigs started to decline well before that and is still on the downswing. In the fourth quarter of 2016, Diamond Offshore Drilling (NYSE: DO) was able to surprise investors a bit with a better-than-expected quarter. This time, though, results fell back in line with what we would expect from a company suffering through a more than three-year slump.