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           21 January, 2021

Category:  Press » Machinery


Atwood Oceanics Announces 30-Day Extension of Drilling Program for VICKSBURG

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2009-08-08 06:18:16     
Atwood Oceanics, Inc

ATWOOD OCEANICS, INC., (NYSE: ATW) a Houston-based International Drilling Contractor, announced that the VICKSBURG (owned and operated by our wholly-owned subsidiary, Atwood Oceanics Pacific Limited) has amended its contract with NuCoastal (Thailand) Limited ("NuCoastal") to extend the firm period of the contract from ninety (90) days to one hundred twenty (120) days. This contract provides NuCoastal with an option to extend the program another ninety (90) days, which must be exercised no later than thirty (30) days after commencement of the contract.

If the duration of the drilling program is for the one hundred twenty (120) days firm period only, the operating dayrate will be $95,000; however, if NuCoastal exercises the option to extend the drilling program to two hundred ten (210) days, the operating dayrate will be adjusted to $90,000 for the entire period. The VICKSBURG is currently undergoing a life enhancing upgrade at a shipyard in Thailand which is expected to be completed by the end of August 2009. Immediately upon the rig completing this upgrade, it will commence working under the contract with NuCoastal.

Statements contained in this report with respect to the future are forward-looking statements. These statements reflect management's reasonable judgment with respect to future events. Forward-looking statements involve risks and uncertainties. Actual results could differ materially from those anticipated as a result of various factors including: the Company's dependence on the oil and gas industry; the risks involved in the construction of a rig and commencement of operations of the rig following delivery; competition; operating risks; risks involved in foreign operations; risks associated with possible disruption in operations due to terrorism, acts of piracy, embargoes, war or other military operations; and governmental regulations and environmental matters. A list of additional risk factors can be found in the Company's annual report on Form 10-K for the year ended September 30, 2008, filed with the Securities and Exchange Commission.

Specialized in: Atwood Oceanics - Drilling - Drilling Contractor - Drilling Rigs - Drillers - Offshore - Offshore Jobs - Offshore Drilling - International Career Opportunities - Rigs - Jack-up - Semi-submersible - Fleet - Fleet Contract Status - Exploration - Water Depth - Cares - Atwood Cares - Atwood - Atw - Hse - Aom - Aopl - Aoa - Hunter
URL: http://www.atwd.com/
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