Atwood Oceanics extends Atwood Eagle contract with Chevron offshore Australia

Source: Atwood Oceanics

Atwood Oceanics (NYSE:ATW), a Houston-based international drilling contractor, secured a six-month contract extension for the Atwood Eagle semisubmersible drilling rig

The Atwood Eagle semisub, operated by our wholly-owned subsidiary Atwood Australian Waters Drilling Pty Ltd, has been awarded a six-month contract extension by Chevron Australia pursuant to the existing contract. 

Able to work in waters measuring up to 5,000 feet deep, the Atwood Eagle can drill to a total depth of 25,000 feet. 

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). 

Currently under construction, the Atwood Osprey will be a semisubmersible drilling rig capable of drilling to a total depth of 32,000 feet in waters measuring 8,200 feet deep.

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