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August 05, 2015 4:41 AM ET

Energy Equipment and Services

Company Overview of Atwood Oceanics, Inc.

Company Overview

Atwood Oceanics, Inc., an offshore drilling contractor, engages in the drilling and completion of exploratory and developmental oil and gas wells worldwide. As of November 10, 2014, it owned a fleet of 13 mobile offshore drilling units, as well as 3 ultra-deepwater drill ships under construction. The company was founded in 1968 and is headquartered in Houston, Texas.

15011 Katy Freeway

Suite 800

Houston, TX 77094

United States

Founded in 1968

1,905 Employees

Phone:

281-749-7800

Fax:

281-492-7871

Key Executives for Atwood Oceanics, Inc.

Chief Executive Officer, President, Director and Member of Executive Committee
Age: 52
Total Annual Compensation: $1.4M
Senior Vice President of Operations
Age: 60
Total Annual Compensation: $531.4K
Senior Vice President, General Counsel and Corporate Secretary
Age: 53
Total Annual Compensation: $469.8K
Senior Vice President of Technical Services
Age: 56
Total Annual Compensation: $517.8K
Compensation as of Fiscal Year 2014.

Atwood Oceanics, Inc. Key Developments

Atwood Oceanics, Inc. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended June 30, 2015; Provides Earnings Guidance for the Fourth Quarter and Full Year 2015

Atwood Oceanics, Inc. reported unaudited earnings results for the third quarter and nine months ended June 30, 2015. For the quarter, the company reported net income of $113.0 million or $1.73 per diluted share, on revenues of $330.6 million compared to net income of $71.9 million or $1.11 per diluted share, on revenues of $292.8 million for the quarter ended June 30, 2014. Income before income taxes was $122.539 million against $79.365 million a year ago. Operating income was $134.204 million against $90.458 million a year ago. As a result of these third quarter payments, net debt increased from by $126 million to $1.65 billion at the end of June. For the nine months ended June 30, 2015, the company earned net income of $281.9 million or $4.33 per diluted share, on revenues of $1.03 billion compared to net income of $228.6 million or $3.52 per diluted share, on revenues of $850.6 million for the nine months ended June 30, 2014. Income before income taxes was $312.855 million against $270.908 million a year ago. Operating income was $352.799 million against $301.593 million a year ago. Net cash provided by operating activities was $483.605 million against $339.248 million a year ago. Capital expenditures were $420.077 million compared to $564.119 million a year ago. Capital expenditures totaled $241 million during the quarter, which consisted mainly of progress payments to the DSME shipyard for the remaining 2 newbuild drillships. For the fourth quarter, the company estimates reimbursable revenues of $11 million for the fiscal fourth quarter. Contract drilling costs are expected to range from $120 million to $130 million for the fourth quarter, excluding reimbursables. Depreciation should remain flat at $43 million for the fourth quarter. Interest expense should range from $13 million to $15 million, net of capitalized interest for the remaining quarter. The company expects effective tax rate for the fourth quarter to approximate 12%. For the full year, the company estimates contract drilling costs are expected to range from $520 million to $530 million for the fiscal year, excluding reimbursables. These projections are unchanged from previous guidance. Depreciation in total approximately $172 million for the year. The company expects effective tax rate of 10% for the full fiscal year.

Atwood Oceanics, Inc. to Report Q3, 2015 Results on Jul 29, 2015

Atwood Oceanics, Inc. announced that they will report Q3, 2015 results After-Market on Jul 29, 2015

Atwood Oceanics, Inc., Q3 2015 Earnings Call, Jul 30, 2015

Atwood Oceanics, Inc., Q3 2015 Earnings Call, Jul 30, 2015

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