ATW Atwood Oceanics, Inc. (delisted)

HOUSTON, June 1 /PRNewswire-FirstCall/ -- ATWOOD OCEANICS, INC. (NYSE:ATW), Houston-based International Drilling Contractor (the "Company"), announced today that on June 1, 2006, its Board of Directors elected James R. Montague as a director of the Company, with such election to be effective June 2, 2006. Mr. Montague was elected to fill a vacancy on the Board of Directors, so that after the election of Mr. Montague, the Board of Directors has seven members. Mr. Montague, 59, resides in Houston, Texas and is a director of Penn Virginia Resource GP, LLC, the general partner of Penn Virginia Resource Partners, LP, a publicly traded master limited partnership which manages coal properties and gathers and processes natural gas, and a director of Magellan GP, LLC, the general partner of Magellan Midstream Partners, LP, a publicly traded master limited partnership formed to own, operate and acquire a diversified portfolio of energy assets. Mr. Montague serves as a member of the Audit and Compensation Committees and Chairman of the Conflicts Committee of both Penn Virginia Resource GP, LLC and Magellan GP, LLC. Mr. Montague is also the Chairman of Memorial Hermann Healthcare System of Houston and is presently the non-executive Chairman of Davis Petroleum Corporation, a privately held oil and gas exploration and production company in Houston. Prior to 2002, Mr. Montague was the President of Encana Gulf of Mexico, LLC, a subsidiary of Encana Corporation. He was President of IP Petroleum Company, a subsidiary of International Paper Company, from 1989 to 2001. Statements contained in this release with respect to the future are forward-looking statements. These statements reflect management's reasonable judgment with respect to future events. Forward-looking statements involve risks and uncertainties. Actual results could differ materially from those anticipated as a result of various factors; the Company's dependence on the oil and gas industry; the risks involved in upgrade to the Company's rigs; competition; operating risks; risks involved in foreign operations; risks associated with possible disruptions in operations due to terrorism; and governmental regulations and environmental matters. A list of additional risk factors can be found in the Company's Annual Report on Form 10-K for the year ended September 30, 2005, filed with the Securities and Exchange Commission. DATASOURCE: Atwood Oceanics, Inc. CONTACT: Jim Holland of Atwood Oceanics, Inc., +1-281-749-7804 Web site: http://www.atwd.com/

Copyright