Atwood Oceanics, Inc. : Atwood Oceanics Orders Fourth Ultra-Deepwater Drillship

    Atwood Oceanics, Inc. : Atwood Oceanics Orders Fourth Ultra-Deepwater

HOUSTON, June 24, 2013

Atwood Oceanics, Inc. (NYSE:ATW) (the "Company") announced today that one of
its subsidiaries has entered into a turnkey construction contract with Daewoo
Shipbuilding and Marine Engineering Co., Ltd. ("DSME") to construct a fourth
ultra-deepwater drillship, to be named the Atwood Archer, at the DSME yard in
South Korea. The Atwood Archer is expected to be delivered by December 31,
2015 at a total cost, including two blowout preventers ("BOPs"), project
management, drilling and handling tools and spares, of approximately $635
million. Upon delivery, the Atwood Archer will become the seventeenth mobile
offshore drilling unit owned by the Company.

The design of the Atwood Archer will be identical to the previously ordered
Atwood Advantage,Atwood Achiever and Atwood Admiral - all four drillships are
DP-3 dynamically-positioned, dual derrick ultra-deepwater drillships rated to
operate in water depths up to 12,000 feet and drill to a depth of up to 40,000

This order comprises the execution of the option that was set to expire on
June 30, 2013. In connection with the exercise, the Company has also secured
an option to construct a fifth ultra-deepwater drillship at a similar cost to
the Atwood Archer and with an expected delivery in September 2016, and which
requires exercise by March 31, 2014. At this time, the Company has made no
determination as to whether the option will be exercised.

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 thirteen mobile offshore drilling units and is
constructing four 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."

Forward Looking Statements

Statements contained in this press release with respect to the future,
including the expected delivery and the expected cost of the vessel, 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


This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.

Source: Atwood Oceanics, Inc. via Thomson Reuters ONE
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