ATWOOD OCEANICS PROVIDES INTERIM OPERATIONS AND FINANCIAL UPDATE
14 Septembre 2017 - 3:02PM
YASTEST
FOR IMMEDIATE RELEASE
HOUSTON, September 14, 2017-- Atwood Oceanics,
Inc. (NYSE: ATW) announced today interim unaudited operations
results for the months of July and August and expected cash, debt
and liquidity balances for fiscal 2017 year-end:
-
Fleet revenue efficiency was approximately 100%
for July and 99% for August
-
Cash on hand at September 30, 2017 is expected
to approximate the June 30, 2017 balance of $474 million
-
Long-term debt consisting of $448 million in
Senior Notes and $850 million drawn on the Revolving Credit
Facility at June 30, 2017 is expected to remain constant at
September 30, 2017
-
Liquidity at September 30, 2017 is expected to
be approximately $992 million, consisting of cash on hand and
availability under the Revolving Credit Facility
Rob Saltiel, President and CEO, commented,
"Despite reduced operating days and significant contract
preparation work on the Atwood Condor, we
expect to maintain our cash balance and liquidity through this
quarter due to strong operational performance, cash flow from
existing contracts and our focus on cost control."
Atwood Oceanics, Inc. is a leading offshore
drilling contractor engaged in the drilling and completion of
exploratory and developmental wells for the global oil and gas
industry. The Company currently owns 9 mobile offshore drilling
units and is constructing two ultra-deepwater drillships. 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." For more information about the
Company, please visit www.atwd.com.
Contact: Mark W. Smith
Senior Vice President and CFO
(281) 749-7840
Forward Looking
Statements
Statements contained in this
press release with respect to the future, including expected cash
on hand, long-term debt, and liquidity 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; 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.
Important Additional Information
Regarding the Transaction
In connection with the proposed merger transaction
between Ensco plc ("Ensco") and Atwood Oceanics, Inc.
("Atwood"), Ensco has filed a registration statement on
Form S-4, including a definitive joint proxy
statement/prospectus of Ensco and Atwood, with the U.S. Securities
and Exchange Commission ("SEC"). INVESTORS AND SECURITY
HOLDERS OF ENSCO AND ATWOOD ARE ADVISED TO CAREFULLY READ THE
REGISTRATION STATEMENT AND DEFINITIVE PROXY STATEMENT/PROSPECTUS
(INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) BECAUSE THEY
CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION, THE PARTIES TO
THE TRANSACTION AND THE RISKS ASSOCIATED WITH THE
TRANSACTION. A definitive joint proxy statement/prospectus
has been sent to security holders of Ensco and Atwood in connection
with the Ensco and Atwood shareholder meetings. Investors and
security holders may obtain a free copy of the definitive joint
proxy statement/prospectus and other relevant documents filed by
Ensco and Atwood with the SEC from the SEC's website at
www.sec.gov. Security holders and other interested parties
are also be able to obtain, without charge, a copy of the
definitive joint proxy statement/prospectus and other relevant
documents by directing a request by mail or telephone to either
Investor Relations, Ensco plc, 5847 San Felipe, Suite 3300,
Houston, Texas 77057, telephone 713-430-4607, or Investor
Relations, Atwood Oceanics, Inc., 15011 Katy Freeway,
Suite 800, Houston, Texas 77094, telephone 281-749-7840.
Copies of the documents filed by Ensco with the SEC are available
free of charge on Ensco's website at www.enscoplc.com under the tab
"Investors." Copies of the documents filed by Atwood with the
SEC are available free of charge on Atwood's website at
www.atwd.com under the tab "Investor Relations."
Security holders may also read and copy any
reports, statements and other information filed with the SEC at
the SEC public reference room at 100 F Street N.E., Room 1580,
Washington D.C. 20549. Please call the SEC at (800) 732-0330 or
visit the SEC's website for further information on its public
reference room.
Participants in the
Solicitation
Ensco and Atwood and their respective directors,
executive officers and certain other members of management may be
deemed to be participants in the solicitation of proxies from their
respective security holders with respect to the transaction.
Information about these persons is set forth in Ensco's proxy
statement relating to its 2017 General Meeting of Shareholders and
Atwood's proxy statement relating to its 2017 Annual Meeting of
Shareholders, as filed with the SEC on 31 March 2017 and 9
January 2017, respectively, and subsequent statements of
changes in beneficial ownership on file with the SEC.
Security holders and investors may obtain additional information
regarding the interests of such persons, which may be different
than those of the respective companies' security holders generally,
by reading the definitive joint proxy statement/prospectus and
other relevant documents regarding the transaction, which have been
filed with the SEC.
No Offer or Solicitation
This communication is not intended to and does not
constitute an offer to sell or the solicitation of an offer to
subscribe for or buy or an invitation to purchase or subscribe for
any securities or the solicitation of any vote in any jurisdiction
pursuant to the proposed transaction or otherwise, nor shall there
be any sale, issuance or transfer of securities in any jurisdiction
in contravention of applicable law. Subject to certain
exceptions to be approved by the relevant regulators or certain
facts to be ascertained, the public offer will not be made directly
or indirectly, in or into any jurisdiction where to do so would
constitute a violation of the laws of such jurisdiction, or by use
of the mails or by any means or instrumentality (including without
limitation, facsimile transmission, telephone and the internet) of
interstate or foreign commerce, or any facility of a national
securities exchange, of any such jurisdiction.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Atwood Oceanics, Inc. via Globenewswire
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