HOUSTON, Dec. 9, 2011 /PRNewswire/ -- ATWOOD
OCEANICS, INC., announced today that one of its subsidiaries
has been awarded a drilling services contract by a subsidiary of
Bowleven Plc. for the Atwood Aurora. The day rate for work
offshore Cameroon will be
approximately $134,000, with contract
commencement expected in May 2012 in
direct continuation of the current contract. The award has an
estimated firm duration of 120 days plus a one well option at the
contract day rate if exercised by December
31, 2011, or at $139,000 if
exercised by March 31, 2012. With the
award of this contract, the firm contractual commitments for the
Atwood Aurora are expected to extend through October 2012.
Atwood Oceanics, Inc. is an international offshore drilling
contractor engaged in the drilling and completion of exploratory
and developmental oil and gas wells. The company currently
owns ten mobile offshore drilling units located in the United States Gulf of Mexico, South America, the Mediterranean Sea,
West Africa, southeast
Asia and Australia, and is constructing an
ultra-deepwater semisubmersible, two ultra-deepwater drillships and
three high-specification jackups for deliveries in 2012, 2013 and
2014. The company was founded in 1968 and is
headquartered in Houston,
Texas. Atwood Oceanics, Inc. ordinary shares are traded on
the New York Stock Exchange under the symbol "ATW".
Contact: Mark L. Mey
(281) 749-7902
Statements contained in this press release with respect to
the future, including the expected delivery of the vessel, arrival
of the vessel and the length of the firm contractual 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
cancellation 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.