FORM 4
[ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Quintero Alan 		2. Issuer Name and Ticker or Trading Symbol

ATWOOD OCEANICS INC [ ATW ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Senior Vice President - Operat
(Last)          (First)          (Middle)

15835 PARK TEN PLACE DRIVE 		3. Date of Earliest Transaction (MM/DD/YYYY)

12/1/2010
(Street)

HOUSTON, TX 77084
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   12/1/2010   12/1/2010   M    2500   A $7.675   48671   D    
Common Stock   12/1/2010   12/1/2010   S    2500   D $36.0963   46171   D    
Common Stock   12/1/2010   12/1/2010   M    4000   A $8.04   50171   D    
Common Stock   12/1/2010   12/1/2010   S    4000   D $36.0963   46171   D    
Common Stock   12/1/2010   12/1/2010   M    15000   A $12.308   61171   D    
Common Stock   12/1/2010   12/1/2010   S    15000   D $36.0963   46171   D    
Common Stock   12/1/2010   12/1/2010   M    4000   A $18.575   50171   D    
Common Stock   12/1/2010   12/1/2010   S    4000   D $36.0963   46171   D    
Common Stock   12/1/2010   12/1/2010   M    4500   A $24.985   50671   D    
Common Stock   12/1/2010   12/1/2010   S    4500   D $36.0963   46171   (1) D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Nonqualified Stock Options   $7.675   12/1/2010   12/1/2010   M      2500         (3) 12/7/2010   Common Stock   2500   $7.675   0   (2) D    
Nonqualified Stock Options   $8.04   12/1/2010   12/1/2010   M      4000         (4) 9/6/2011   Common Stock   4000   $8.04   0   (2) D    
Nonqualified Stock Options   $12.308   12/1/2010   12/1/2010   M      15000         (5) 12/2/2014   Common Stock   15000   $12.308   0   (2) D    
Nonqualified Stock Options   $18.575   12/1/2010   12/1/2010   M      4000         (6) 12/1/2015   Common Stock   4000   $18.575   0   (2) D    
Nonqualified Stock Options   $24.985   12/1/2010   12/1/2010   M      4500         (7) 12/7/2016   Common Stock   4500   $24.985   0   (2) D    

Explanation of Responses:
( 1)  Represents the total number of shares of Common Stock held by the reporting person following the transactions reported hereby.
( 2)  Represents the total number of Nonqualified Stock Options held by the reporting person with the same exercise price, exercised date, and expiration date, subsequent to the transaction reported hereby.
( 3)  These options were granted on December 07, 2000 and vested 25% per year commencing at the end of year one, with full vesting on December 07, 2004.
( 4)  These options were granted on September 06, 2001 and vested 25% per year commencing at the end of year one, with full vesting on September 06, 2005.
( 5)  These options were granted on December 02, 2004 and vested 25% per year commencing at the end of year one, with full vesting on December 02, 2008.
( 6)  These options were granted on December 01, 2005 and vested 25% per year commencing at the end of year one, with full vesting on December 01, 2009.
( 7)  These options were granted on December 07, 2006 and vested 25%, 1500 shares, on December 07, 2007; 25%, or 1500 shares, on December 07, 2008; and 25% or, 1500 shares, on December 07, 2009.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Quintero Alan
15835 PARK TEN PLACE DRIVE
HOUSTON, TX 77084

Senior Vice President - Operat

Signatures
Alan Quintero 12/3/2010
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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