Market Overview

Atwood Oceanics Announces Contract for the Atwood Aurora

Atwood Oceanics (NYSE: ATW) announced today that one of its subsidiaries has been awarded a drilling services contract by a subsidiary of Bowleven Plc. for the Atwood Aurora. The day rate for work offshore Cameroon will be approximately $134,000, with contract commencement expected in May 2012 in direct continuation of the current contract.

The award has an estimated firm duration of 120 days plus a one well option at the contract day rate if exercised by December 31, 2011, or at $139,000 if exercised by March 31, 2012. With the award of this contract, the firm contractual commitments for the Atwood Aurora are expected to extend through October 2012.

Posted-In: News Contracts

 

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