HOUSTON, Nov. 5, 2010 /PRNewswire/ -- ATWOOD OCEANICS,
INC., a Houston-based
international drilling contractor (NYSE: ATW), announced today that
the ATWOOD FALCON has been awarded an extension by Sarawak Shell
Berhad / Sabah Shell Petroleum Company Ltd. of the existing
contract. With this extension, the rig's current contract
commitment will be extended from August 24,
2011 until between November 24,
2011 and January 24, 2012,
depending on the length of the drilling program. The value of
the contract extension is estimated to be between $27 million and $45 million.
With the execution of this contract extension, all of our
deepwater semisubmersible drilling units are now fully contracted
through fiscal year 2011, and our current contract backlog is
approximately $1.2 billion.
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 in the construction of a rig and commencement of
operations of the rig following delivery; competition; operating
risks; risks involved in foreign operations; risks associated with
possible disruption in operations due to terrorism, acts of piracy,
embargoes, war or other military operations; and governmental and
industry 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, 2009, and the Company's quarterly report on Form 10-Q
for the quarter ended June 30, 2010,
both filed with the Securities and Exchange Commission.
SOURCE ATWOOD OCEANICS, INC.