HOUSTON, Aug. 3, 2011 /PRNewswire/ -- ATWOOD OCEANICS,
INC., a Houston-based
international offshore drilling contractor (NYSE: ATW), announced
today that one of its subsidiaries has been awarded a twelve-month
contract extension with an affiliate of Coastal Energy Company for
the jack-up Vicksburg, priced at the current day rate of
$90,000 from January 1, 2012 to June
30, 2012, after which the day rate will be $95,000 until Dec
31, 2012. With the extension, the Vicksburg's
firm commitment extends through December 31,
2012.
Statements contained in this report with respect to the
future, including the exercise of the option and the term of the
firm commitment, are forward-looking statements. These
statements reflect management's reasonable judgment with respect to
future events. Forward-looking statements are subject to
numerous risks, uncertainties and assumptions and actual results
could differ materially from those anticipated as a result of
various factors including: uncertainties related to the level of
activity in offshore oil and gas exploration and development; oil
and gas prices; competition and market conditions in the contract
drilling industry; the risks inherent in the construction of a rig;
delays in the commencement of operations of a rig following
delivery; our ability to enter into and the terms of future
contracts; possible cancelation or suspension of drilling
contracts; the availability of qualified personnel; labor
relations; operating hazards and risks; terrorism and political and
other uncertainties inherent in foreign operations (including
risk of war, civil disturbances, seizure or damage to equipment and
exchange and currency fluctuations); the impact of
governmental and industry laws and regulations; and
environmental matters. These factors and others are described
and discussed in our most recently filed annual report on Form
10-K, in our Forms 10-Q for subsequent periods and in our other
filings with the Securities and Exchange Commission which are
available on the SEC's website as www.sec.gov.
Each forward looking statement speaks only as of the date of
the particular statement and we undertake no duty to update the
content of this press release or any forward-looking statement
contained herein to conform the statement to actual results or to
reflect changes in our expectations.
SOURCE Atwood Oceanics, Inc.