HOUSTON, Jan. 22, 2013 /PRNewswire/ -- Atwood
Oceanics, Inc. (NYSE: ATW) announced today that one of its
subsidiaries has been awarded a drilling services contract for the
Atwood Orca by Mubadala Petroleum. The Atwood
Orca, currently under construction at PPL Shipyard PTE LTD
("PPL") in Singapore, will have a
rated water depth of 400 feet, 1.5 million pound hook load
capacity, accommodation for 150 personnel and significant offline
handling capabilities. The agreement is for a firm duration
of two years.
The Atwood Orca is expected to be delivered from the PPL
shipyard in early May 2013, ahead of
its scheduled June delivery after which it will mobilize for a
period of approximately ten days to its first location offshore
Thailand. This contract adds
$116 million in revenue backlog,
bringing Atwood's total revenue backlog to approximately
$2.6 billion as of January 22, 2013.
Atwood Oceanics, Inc. is a global offshore drilling contractor
engaged in the drilling and completion of exploratory and
developmental oil and gas wells. The company currently owns 12
mobile offshore drilling units and is constructing three
ultra-deepwater drillships and one high-specification jackup. 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
scheduled delivery, 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
cancelation 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.