Atwood Oceanics says that the Richmond semisub, the Company's only drilling rig located in the U.S. Gulf of Mexico, has been awarded a one-well contract (at a dayrate of $35,500) by Contango Operations Inc., the drilling of which will be managed by Applied Drilling Technology Inc.

The drilling of this well, expected to take around sixty days to complete, will commence immediately upon the rig completing its current commitment which is expected to extend to around mid-February 2010. Following completion of the Contango well, the rig will immediately commence drilling one well for Rooster Petroleum, LLC at a dayrate of $36,000. This well is expected to take around forty days to complete.

The Vicksburg (owned and operated by our wholly-owned subsidiary, Atwood Oceanics Pacific Limited) continues to work offshore Thailand under a contract commitment with NuCoastal (Thailand) Limited (NuCoastal). NuCoastal has exercised its option to add three additional months to the contract commitment which will now extend to June 30, 2010. The contract provides for a dayrate of $90,000 and includes one additional option for six months which must be exercised by April 1, 2010.

Tags: Atwood Oceanics