Atwood Oceanics announced that on April 21, 2009, the new-build ultra premium jack-up, Atwood Aurora (owned by our wholly-owned subsidiary, Atwood Oceanics Pacific Limited) commenced operations under its two-year contract with RWE Dea Nile GmbH ("RWE Dea") offshore Egypt.
Delays due to weather conditions negatively impacted the final commissioning process and the final rig placement. A longer than expected period for completing the commissioning of certain equipment to commence operations resulted in an adjustment in the dayrate to $133,000 which commenced on April 21, 2009. Certain net mobilization costs estimated to be approximately $1 million will be paid to RWE Dea. The contract includes a cost escalation clause and provides an option to add one additional year at a dayrate of US $178,000.
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