Atwood Oceanics Receives Follow-on Contract from Chevron

Atwood Oceanics says that the Vicksburg has been awarded a two-year contract by Chevron Overseas Petroleum (Thailand) Limited which will immediately follow Chevron's current eight month drilling commitment offshore Cambodia. The Vicksburg is presently working in Malaysia under drilling commitments with dayrates of $82,000 to $87,000, which should extend to October 2006. After completion of these commitments, the rig will be moved to Cambodia to commence the eight month drilling commitment with Chevron followed by the two-year contract in Thailand. The operating dayrate for the first eight months with Chevron offshore Cambodia will be $94,500 and a dayrate of $154,000 will apply for the two-year contract offshore Thailand.
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