Rig: Valaris 142

Atwood Oceanics announces extension of 'Atwood Aurora' contract

Atwood Oceanics, Inc. (NYSE: ATW) announced today that one of its subsidiaries has been awarded an extension to the drilling services contract with Addax Petroleum Cameroon Limited for the jack-up drilling unit Atwood Aurora. The original contract for a one year term to be performed offshore Cameroon has been lengthened to a term of two years, and the operating dayrate for the full two-year term will be approximately $185,000 (inclusive of the 15% Cameroon withholding tax) or $158,000 (exclusive of the 15% Cameroon withholding tax), depending on the well location. Cost escalation provisions will apply at the beginning of the second year of the contract term. Contract commencement is expected to occur in July 2014 in direct continuation of previously announced contractual commitments. With this extension, the firm contractual commitment for the Atwood Aurora is expected to extend to July 2016.

Commencement of Operations

ATWOOD OCEANICS, INC., (NYSE – ATW) a Houston-based International Drilling Contractor, announced that on April 21, 2009, the new-build ultra premium jack-up, ATWOOD AURORA (owned by our wholly-owned subsidiary, Atwood Oceanics Pacific Limited) commenced operations under its two-year contract with RWE Dea Nile GmbH (“RWE Dea”) offshore Egypt. Delays due to weather conditions negatively impacted the final commissioning process and the final rig placement. A longer than expected period for completing the commissioning of certain equipment to commence operations resulted in an adjustment in the dayrate to $133,000 which commenced on April 21, 2009. Certain net mobilization costs estimated to be approximately $1 million will be paid to RWE Dea. The contract includes a cost escalation clause and provides an option to add one additional year at a dayrate of US$178,000.

Keppel AmFELS delivers jackup rig to Atwood Oceanics

Keppel AmFELS Inc., the wholly-owned subsidiary of Keppel Offshore & Marine Limited in the Gulf of Mexico, has delivered a newbuild jackup rig to Atwood Oceanics Pacific Limited (AOPL). The rig was christened Atwood Aurora by Ms. Deborah Beck, Corporate Executive Director of Atwood Oceanics, Inc. (the parent company of AOPL), at a ceremony on 6 December 2008. Atwood Aurora has been awarded a contract by RWE Dea Nile GmbH ("RWE") for work offshore Egypt for two years with two separate options to extend the term to three years. Built to the LeTourneau Super 116E design with leg lengths of 477 feet that can be upgraded to 511 feet, the unit is capable of drilling wells up to 30,000 feet deep in water depths of 350 feet.