ATWOOD OCEANICS REPORTS ON STATUS OF ATWOOD OSPREY
March 16 2015 - 9:14AM
FOR IMMEDIATE RELEASE
HOUSTON, March 16, 2015 - Atwood Oceanics, Inc.
(NYSE: ATW) announced today that its semisubmersible drilling unit,
the Atwood Osprey, parted several mooring
lines and drifted approximately three nautical miles from its
original position during Cyclone Olwyn, which impacted the
northwest coast of Australia on March 12th. The rig is
currently stable with a support vessel in position, and preliminary
results indicate minimal damage with an estimated maximum of 30
days out of service time for repairs. No rig personnel were
injured in the event.
The Atwood Osprey is
contracted to Chevron Australia Pty. Ltd. and was on location at
the Iago 1B well. The well had been shut down and secured in
accordance with Chevron's cyclone demobilization procedures and the
rig had ballasted down and evacuated all its rig personnel in
advance of the cyclone. Atwood Oceanics is coordinating its
efforts with Chevron, the Australian offshore regulator (NOPSEMA)
and other affected parties.
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 currently owns 12 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 a full
list of the official Social Media pages for Atwood Oceanics, Inc.
please visit our Investor Relations site at:
http://ir.atwd.com/GenPage.aspx?IID=4010374&GKP=210376
Media Contact: Anthony
Hasluck
Within
Australia:
(08) 9380 0700
Outside
Australia:
+61 8 9380 0700
Forward Looking
Statements
Statements
contained in this press release with respect to the future,
including damage to the vessel and expected out of service time,
are forward-looking statements. These statements reflect
management's reasonable judgment with respect to future events.
Forward-looking statements are subject to numerous risks,
uncertainties and assumptions and actual results could differ
materially from those anticipated as a result of various factors
including: uncertainties related to the level of activity in
offshore oil and gas exploration and development; oil and gas
prices; competition and market conditions in the contract drilling
industry; the risks inherent in the construction of a rig; delays
in the commencement of operations of a rig following delivery; our
ability to enter into and the terms of future contracts; possible
cancelation or suspension of drilling contracts; the availability
of qualified personnel; labor relations; operating hazards and
risks; terrorism and political and other uncertainties inherent in
foreign operations (including risk of war, civil disturbances,
seizure or damage to equipment and exchange and currency
fluctuations); the impact of governmental and industry laws and
regulations; and environmental matters. These factors and others
are described and discussed in our most recently filed annual
report on Form 10-K, in our Forms 10-Q for subsequent periods and
in our other filings with the Securities and Exchange Commission
which are available on the SEC's website at www.sec.gov. Each
forward looking statement speaks only as of the date of the
particular statement and we undertake no duty to update the content
of this press release or any forward-looking statement contained
herein to conform the statement to actual results or to reflect
changes in our expectations.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Atwood Oceanics, Inc. via Globenewswire
HUG#1903794
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