HOUSTON, April 26, 2012 /PRNewswire/ -- ATWOOD OCEANICS,
INC., announced today that one of its subsidiaries has been awarded
a drilling services contract by a subsidiary of Noble Energy Inc.
for the Atwood Hunter for three firm wells with a minimum
total duration of 150 days plus one option well. The first
well will be in a tax-free location in Cameroon at a dayrate of approximately
$364,000, while the second and third
wells will be in Equatorial Guinea
at a dayrate of approximately $388,000. One priced option well has been
provided which will be located in either Equatorial Guinea or Cameroon; this option well will be at the
applicable rate and must be exercised prior to the spud of the
second well. If the total program, inclusive of the option
well, exceeds 155 days, then beginning on the 156th day the dayrate
will increase to approximately $408,000 plus applicable corporate income
tax.
Contract commencement is expected in December 2012 in direct continuation of an
estimated 30-day period dockside in Ghana to perform regulatory survey work and
general maintenance activities. With the award of this
contract, the firm contractual commitment for the Atwood
Hunter is expected to extend through April 2013.
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."
Forward Looking Statements
Statements contained in this press release with respect to
the future, including the expected contract commencement and 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.