Atwood Falcon Snags One-Well Gig in South China Sea

Atwood Falcon Semi-sub
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Atwood Oceanics, Inc. has announced that the Atwood Falcon has received a one-well commitment from an operator in Southeast Asia for the drilling of a well in the South China Sea.

The drilling of this one well will commence in mid July 2008 at a dayrate of $425,000, with an approximate duration of 40 days; after which the rig will return to its current contracted dayrate of $160,000. The rig is currently under contract with Sarawak Shell Berhad/Sabah Shell Petroleum Co. Ltd in the South China Sea.

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