HOUSTON – CNOOC Africa Ltd has awarded an Atwood Oceanics Inc. (NYSE: ATW) subsidiary a drilling services contract by for the semisubmersible rig Atwood Hunter. The contract will be performed offshore Equatorial Guinea, specifies a day rate of $337,000 for a minimum term of 90 days, and includes an option for one additional well.
To the extent the term exceeds 90 days, the day rate for days 91 to 180 will be $330,000. Any term in excess of 181 days will have a day rate of $325,000. The Atwood Hunter is expected to begin the contract in mid-August.
In connection with this contract, an Atwood subsidiary and Guinea Ecuatorial de Petroleos (GEPetrol) agreed to terminate a previously announced contract for the Atwood Hunter, provided certain conditions are met.