HOUSTON, July 9, 2012 /PRNewswire/ -- ATWOOD OCEANICS,
INC., announced today that one of its subsidiaries has been awarded
a drilling services contract by GLENCORE EXPLORATION CAMEROON LTD for the jack-up rig Atwood
Aurora. The contract for three wells with a minimum total
duration of 200 days will be performed in Cameroon at a dayrate of approximately
$155,000.
Contract commencement is expected in February 2013 in direct continuation of the two
well contract with Bowleven PLC. With the award of this
contract, the firm contractual commitment for the Atwood
Aurora is expected to extend to August
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 11
mobile offshore drilling units operating in the United States Gulf of Mexico, South America, the Mediterranean Sea,
West Africa, southeast
Asia and Australia, and is constructing 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. common stock is 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.