Atwood Oceanics, Inc. : Atwood Oceanics Announces Contract for the Atwood
FOR IMMEDIATE RELEASE
HOUSTON, June 4, 2013 -- Atwood Oceanics, Inc. (NYSE: ATW) announced today
that one of its subsidiaries has been awarded a drilling services contract by
Shell Offshore Inc. for the dynamically positioned, ultra-deepwater
semisubmersible rig, the Atwood Condor. The contract has a term of 39 months
from the date the rig is assigned from Hess Corporation, which is expected to
occur in late August 2013. The drilling program will be performed in the U.S.
Gulf of Mexico at a dayrate of approximately $555,000. This contract will
supersede the remainder of the existing contract with Hess Corporation.
With the award of this contract, the firm contractual commitment for the
Atwood Condor is expected to extend to November 2016. This contract adds
approximately $502 million in revenue backlog.
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 13 mobile offshore drilling units and is
constructing three 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."
Contact: Mark L. Mey
Forward Looking Statements
Statements contained in this press release with respect to the future,
including expected commencement and 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 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
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information contained therein.
Source: Atwood Oceanics, Inc. via Thomson Reuters ONE
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