ATWOOD OCEANICS ANNOUNCES PROGRAM CHANGES FOR AUSTRALIA RIGS
March 21 2016 - 9:04AM
FOR IMMEDIATE RELEASE
HOUSTON, March 21, 2016-- Atwood
Oceanics, Inc. (NYSE: ATW) announced today that its Australia
subsidiary's drilling services contract with Woodside Energy Ltd
("Woodside") for the semisubmersible Atwood
Eagle has been suspended by mutual agreement effective March
19, 2016 and the remaining term of 165 days has been transferred to
the semisubmersible Atwood Osprey for
Woodside's utilization upon completion of the Atwood Osprey's current drilling
program. The material contractual terms and conditions,
including dayrate, of the Woodside drilling services contract
remain unchanged after this assignment to the Atwood Osprey.
The Atwood
Eagle will temporarily remain in Australia until plans are
finalized for its mobilization to Singapore, where the rig will be
available for hire.
Atwood Oceanics, Inc. is a leading
offshore drilling contractor engaged in the drilling and completion
of exploratory and developmental wells for the global oil and gas
industry. The Company currently owns 11 mobile offshore drilling
units and is constructing two ultra-deepwater drillships. The
Company was founded in 1968 and is headquartered in Houston,
Texas. Atwood Oceanics, Inc. common stock is traded on the
New York Stock Exchange under the symbol "ATW." For more
information about the Company, please visit www.atwd.com.
Contact: Mark W. Smith
Senior Vice President and CFO
(281) 749-7840
Forward Looking
Statements
Statements
contained in this press release with respect to the future 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; 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 at 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.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Atwood Oceanics, Inc. via Globenewswire
HUG#1996367
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