HOUSTON, September 20, 2017 - Atwood Oceanics, Inc. (NYSE: ATW) announced today that one of its subsidiaries has agreed to a four month extension on the jackup rig Atwood Orcawith Mubadala Petroleum for drilling operations offshore Thailand.The new contract is at an undisclosed day rate that is higher than the current day rate, and it includes two four-month options that are priced at successively higher day rates than the new firm day rate.
As a result of this contract, the expected earliest availability of the Atwood Orca is August 2018, assuming no options are exercised. If both options were to be exercised, the drilling program would be expected to extend until approximately April 2019.
Atwood Oceanics, Inc. is a leading offshore drilling contractor engaged in the drilling and completion of exploratory and developmental wells for the global oil and gas industry. The Company owns 9 mobile offshore drilling units and is constructing two 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."For more information about the Company, please visit www.atwd.com.