Moratorium forces oil rig closure

HOUSTON Diamond Offshore Drilling has six rigs in the Gulf that are sitting idle because of the ban that's in the middle of a vicious legal battle. It is now moving one of those rigs to Egypt, where it has a new drilling contract.

The move means 30 workers from Louisiana and Mississippi will lose their jobs. Those positions will go to Egyptians.

Diamond told us there's a good chance it will move a few more rigs and that when it's all said and done, 400 jobs could be lost.