Atwood Oceanics, Inc. ATW announced today
that one of its subsidiaries has been awarded a drilling services contract for
the Atwood Beacon by Eni S.p.A. The Atwood Beacon is currently working
offshore Israel under a contract which is expected to conclude by July 2013.
The rig will then mobilize to Italy in direct continuation of this contract
and will incur certain costs related to compliance with local laws and
regulations.
The new contract has a firm duration period of two years plus one optional
year period, exercisable with one year notice from the expiry of the firm
period. This contract adds $128 million in revenue backlog.
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