HOUSTON, Sept. 27, 2012 /PRNewswire/ -- Atwood Oceanics,
Inc. (NYSE: ATW) announced today that one of its subsidiaries
has been awarded a drilling services contract for the Atwood
Advantage by a subsidiary of Noble Energy Inc. (NYSE: NBL) for
a worldwide program commencing in the Eastern Mediterranean.
The Atwood Advantage is a 12,000 foot water depth capable,
dynamically positioned drillship currently under construction at
Daewoo Shipbuilding and Marine Engineering ("DSME") shipyard in
South Korea. The agreement specifies an operating rate of
approximately $584,000 per day and a
firm duration of three years, exclusive of the mobilization period
from DSME to the first drilling location.
The Atwood Advantage is scheduled to be delivered from
the DSME shipyard in September 2013,
after which it will mobilize for a period of approximately eighty
days to its first location in the Eastern Mediterranean. This
contract adds $639 million in revenue
backlog, bringing Atwood's total revenue backlog to approximately
$2.9 billion as of October 1, 2012.
Rob Saltiel, Atwood's President
and Chief Executive Officer, commented, "We are extremely pleased
to be working with Noble Energy with the Atwood
Advantage. Our companies have enjoyed a long and
productive working relationship, and this agreement exemplifies the
spirit of collaboration that exists between our companies.
Atwood is committed to providing outstanding drilling service to
Noble Energy with our state-of-the-art drillship, and we are proud
to have been selected for this important drilling program."
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 and is constructing two
ultra-deepwater drillships and two 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 delivery of the vessel,
mobilization period and the 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 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.
SOURCE Atwood Oceanics, Inc.