Atwood Oceanics, Inc. announced that one of its subsidiaries has been awarded a drilling services contract by BHP Billiton Petroleum Pty., Limited for the semisubmersible rig Atwood Falcon.

This contract is for a term of 330 days and the work will be performed offshore Australia at a day rate of approximately $430,000 in direct continuation with the rig's contracted drilling programs.

As part of this contract, BHP Billiton retains the right to further extend the contract for two option periods of approximately 120 days each at the same day rate. Contract commencement is expected to occur in direct continuation of present operations.

Tags: Atwood Oceanics