Atwood Oceanics Announces Conditional Exercise of Option to Build Ultra-Deepwater Semisubmersible Drilling Unit With Jurong Ship
July 03 2008 - 2:09PM
PR Newswire (US)
HOUSTON, July 3 /PRNewswire-FirstCall/ -- Atwood Oceanics, Inc.
(Houston based International Offshore Drilling Contractor)
(NYSE:ATW) announced today that its wholly-owned subsidiary, Atwood
Oceanics Pacific Limited, conditionally exercised an option to
construct an ultra-deepwater semisubmersible drilling rig to be
built based on the Friede & Goldman Ex-D Millennium Dynamically
Positioned Semisubmersible rig design with Jurong Shipyard Pte.
Ltd. ("Jurong") in Singapore and is presently negotiating a
construction contract for such rig with Jurong. The rig is to be
built for a water depth rating of 10,000 feet. The construction
contract would be subject to satisfaction of certain conditions
precedent which are required to be satisfied prior to July 30,
2008. Statements contained in this report 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 including; the Company's dependence on the oil
and gas industry; the risks involved the construction of a rig;
competition; operating risks; risks involved in foreign operations;
risks associated with possible disruption in operations due to
terrorism; risks associated with a possible disruption in
operations due to a war with Iraq; 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, 2007, filed with the Securities and Exchange
Commission. DATASOURCE: Atwood Oceanics, Inc. CONTACT: Jim Holland,
+1-281-749-7804, for Atwood Oceanics, Inc. Web site:
http://www.atwd.com/
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