Atwood Announces RICHMOND Upgrade
12 Septembre 2007 - 12:00AM
PR Newswire (US)
HOUSTON, Sept. 11 /PRNewswire-FirstCall/ -- Atwood Oceanics, Inc.
(NYSE:ATW), announced today the RICHMOND continues to work for
Helis Oil & Gas ("Helis") in the Gulf of Mexico at a dayrate of
$80,000. Upon completion of the drilling of the current well
(estimated late September 2007), Helis has a commitment to drill
one more well (estimated to take 25 days to complete). The drilling
of this last well will be deferred until sometime during the first
half of fiscal year 2008. Immediately upon completion of the
drilling of its current well, the rig will be moved to a shipyard
to undergo a $14 million to $15 million life enhancement upgrade
estimated to take around 60 days to complete, which will extend the
depreciable life of the rig seven years from January 2008.
Additional work for the rig immediately following the upgrade
period is currently being pursued. 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 the construction of a rig; competition; operating risks;
risks involved in foreign operations; risks associated with
possible disruption in operations due to terrorism; risks
associated with a possible disruption in operations due to a war
with Iraq; and governmental 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, 2006,
filed with the Securities and Exchange Commission. DATASOURCE:
Atwood Oceanics, Inc. CONTACT: Jim Holland of Atwood Oceanics,
Inc., +1-281-749-7804 Web site: http://www.atwd.com/
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