Atwood Oceanics, Inc. : Atwood Oceanics Announces Contract for the Atwood Achiever

  Atwood Oceanics, Inc. : Atwood Oceanics Announces Contract for the Atwood


HOUSTON, June 10, 2013 -- Atwood  Oceanics, Inc. (NYSE: ATW) announced  today 
that one of its subsidiaries has been awarded a drilling services contract for
the ultra-deepwater drillship Atwood Achiever by a subsidiary of Kosmos Energy
Ltd. (NYSE:  KOS) for  an  exploration program  commencing in  Morocco.  The 
Atwood Achiever 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 a  base 
operating rate of approximately $595,000 per day which will be grossed up  for 
all applicable taxes,  and a firm  duration of three  years, exclusive of  the 
mobilization period from DSME to  the first drilling location. The  operating 
rate for  additional geographic  locations  will be  adjusted to  account  for 
differences in taxes and operating costs.

The Atwood Achiever  is scheduled to  be delivered from  the DSME shipyard  in 
June 2014,  after  which  it  will mobilize  for  a  period  of  approximately 
sixty-five days to  its first location  in Morocco. This  contract adds  $652 
million in  revenue  backlog,  bringing  Atwood's  total  revenue  backlog  to 
approximately $3.9 billion as of June 10, 2013.

Rob Saltiel, Atwood's  President and Chief  Executive Officer, commented,  "We 
are  very  pleased  to  have  contracted  the  Atwood  Achiever,  our   second 
ultra-deepwater drillship,  with Kosmos  Energy.  Our companies  have  always 
worked well together, and the Achiever will provide an excellent platform  for 
delivering  safe  and  reliable  drilling  services  for  Kosmos'  exploration 

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
(281) 749-7902

Forward Looking Statements

Statements contained  in  this  press  release with  respect  to  the  future, 
including scheduled  (or  expected)  delivery  and  mobilization  period,  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 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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Source: Atwood Oceanics, Inc. via Thomson Reuters ONE
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