The Board of Directors of Atwood Oceanics, Inc.
(NYSE: ATW) has approved a two-for-one stock
split of its common stock to be effected in the form of a 100% stock dividend
payable April 7, 2006, on all shares of common stock outstanding as of the
close of business on March 24, 2006. At the Company's annual shareholders
meeting on February 9, 2006, the shareholders of the Company approved
increasing the number of authorized shares of common stock of the Company from
20,000,000 shares to 50,000,000 shares thereby facilitating the ability of the
Board of Directors to implement a two-for-one stock split in the form of a
100% stock dividend.