Atwood Appoints New VP of Ops

Atwood announced that effective February 1, 2011 Mr. Arthur McGinnis ("Mac") Polhamus will be appointed Vice President, Operations and will be the principal operating officer of the Company.

Mr. Polhamus comes to Atwood after nearly 16 years at Transocean in positions of increasing general management and operations responsibility involving both deepwater and shallow water drilling rigs. Mr. Polhamus most recently held the position of Managing Director, West Africa South with oversight for offshore drilling operations in Angola, Gabon and Congo. Before that, he headed the North America Division which, through Transocean's Gulf of Mexico fleet, encompassed the largest concentration of ultra-deepwater rigs worldwide. Previously, Mr. Polhamus led the division responsible for jack-up rig operations in the Mediterranean Sea and the Red Sea. Among other earlier roles, Mr. Polhamus served as the first rig manager of the 5th generation ultra-deepwater rig Cajun Express in the Gulf of Mexico.

Prior to his service with Transocean, Mr. Polhamus was a consultant for Sonat Drilling Services, Inc. and Triton International & Petroleum Engineers, Inc. and also held various positions with Amoco International Oil Company where he started his career. Mr. Polhamus holds a Bachelor of Science degree in Petroleum Engineering from Tulsa University.

Rob Saltiel, President and Chief Executive Officer, stated, "We are pleased to welcome Mac to the Atwood leadership team as our head of worldwide operations. Mac brings proven technical leadership, extensive experience in deepwater operations and a strong reputation for client service within our industry. Mac's appointment strengthens our execution capabilities for our ambitious growth initiatives and underscores our commitment to operational excellence."


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