Atwood Announces Contracts for ATWOOD HUNTER
25 Juin 2008 - 1:15AM
PR Newswire (US)
HOUSTON, June 24 /PRNewswire-FirstCall/ -- Atwood Oceanics, Inc.
(NYSE:ATW), announced today that the ATWOOD HUNTER, owned by our
wholly-owned subsidiary, Atwood Oceanics Pacific Limited ("AOPL"),
has been awarded contracts by Noble Energy, Inc. ("Noble Energy")
for work in the eastern Mediterranean Sea and by Kosmos Energy
Ghana HC ("Kosmos") and Noble Energy for work offshore West Africa
for a combined term of four years. These contracts provide for an
operating dayrate of US$511,000 while working in the eastern
Mediterranean Sea, approximately US$538,000 while working offshore
Ghana and approximately US$545,000 while working in other West
African designated areas. All dayrates are subject to adjustments
pursuant to cost escalation provisions of the contracts. The
Kosmos/Noble Energy contract provides for a one year option at
mutually agreed rates. Immediately upon the ATWOOD HUNTER
completing its current work offshore Mauritania (estimated
September 2008), the rig will be relocated to the eastern
Mediterranean Sea (estimated to take 35 days) to perform the Noble
Energy contract (estimated to take 80 to 160 days to complete) and
then mobilized to West Africa (estimated to take 55 days) to
commence the combined Kosmos and Noble Energy contract, with the
rig being moved between Ghana and other designated areas at various
intervals. The initial work in Ghana for Kosmos is estimated to
take 270 days to complete. These contracts provide that Noble
Energy and Kosmos will provide all tow vessels and pay a dayrate of
approximately $460,000 during all mobilization periods. 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, 2007, 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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