Chevron Extends Atwood Eagle Contract

Atwood Oceanics announced that the Atwood Eagle (operated by wholly-owned subsidiary Atwood Australian Waters Drilling) has been awarded a six-month contract extension by Chevron Australia pursuant to the existing contract. With this option exercised, the rig's current contract commitment will be extended until six months beyond the delivery of the Atwood Osprey to Chevron Australia, which is anticipated to occur during the first quarter of calendar year 2011. The new dayrate for the Atwood Eagle will be approximately $390,000 (subject to change due to currency exchange provisions in the contract).

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