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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

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

06/10/2013 | 10:01am EST


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 program."

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 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.

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 the information contained therein.

Source: Atwood Oceanics, Inc.
distributed by

ę Publicnow 2013
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Managers and Directors
Christopher M. Johnston President & Director
Roger C. McCartney Secretary, Director & Vice President
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