July 3, 2008
Atwood Oceanics negotiating semi contract at Jurong
Houston based Atwood Oceanics, Inc. (NYSE: ATW) says that its wholly-owned subsidiary, Atwood Oceanics Pacific Limited, has conditionally exercised an option to construct an ultra-deepwater semisubmersible drilling rig with Jurong Shipyard Pte. Ltd. ("Jurong") in Singapore and is presently negotiating a construction contract with Jurong.
The rig is to be built based on the Friede & Goldman Ex-D Millennium Dynamically Positioned Semisubmersible design for a water depth rating of 10,000 feet.
The construction contract is subject to satisfaction of certain conditions precedent which are required to be satisfied prior to July 30, 2008.