Atwood Semisubs Win Apache Work in AU

Atwood Oceanics announced that one of its subsidiaries has been awarded two contracts by Apache Energy Ltd for work in Australia for the Atwood Eagle and the Atwood Falcon with durations of 18 months and 30 months, respectively. With these contracts, Atwood's total revenue backlog increases from approximately $990 million to $1.55 billion.

The Atwood Eagle is expected to commence its contract in July 2012 in direct continuation of its prior contract. The Atwood Falcon will undergo approximately 90 days of planned maintenance and contract preparation work prior to transiting to Australia to commence operations expected in May 2012. The firm contractual commitments for the Atwood Eagle and the Atwood Falcon are expected to extend to January 2014 and November 2014, respectively.

"We are very pleased to be providing deepwater drilling services to Apache with these two longer-term agreements," commented Rob Saltiel, Atwood President & CEO. "Atwood has been active in Australia for over 35 years, and we look forward to increasing our presence further in this growing and strategic market."

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