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Atwood Oceanics Inc.
15835 Park Ten Place Drive
Houston, TX 77084
United States - Map
Phone: 281-749-7800
Fax: 281-492-0345
Web Site: http://www.atwd.com
DETAILS
Index Membership: S&P 600 SmallCap
S&P 1500 Super Comp
Sector: Basic Materials
Industry: Oil & Gas Drilling & Exploration
Full Time Employees: 1,100
BUSINESS SUMMARY
Atwood Oceanics, Inc., through its subsidiaries, engages in the offshore drilling and completion of exploratory and developmental oil and gas wells in the United States. It also offers support, management, and consulting services. The company provides various rigs, such as semi submersible rigs, semi submersible tender assist rigs, jack-up drilling rigs, submersible drilling rigs, and modular platform rigs. The company also offers various services to third party owners of drilling rigs, such as supply of personnel and rig design, fabrication, installation, and operation. Atwood Oceanics has its operations in offshore southeast Asia, offshore Africa, offshore Australia, the Black Sea, and the U.S. Gulf of Mexico. As of December 12, 2006, the company owned and operated a fleet of eight drilling rigs, including five semi submersible rigs, two jack-up drilling rigs, and one submersible rigs. Atwood Oceanics was founded in 1968 and is headquartered in Houston, Texas.
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Press Release Source: Atwood Oceanics, Inc.
Atwood Announces Earnings and Contract for Atwood Southern Cross
Wednesday November 28, 4:00 pm ET
EARNINGS-
HOUSTON, Nov. 28 /PRNewswire-FirstCall/ -- Atwood Oceanics, Inc., (NYSE: ATW - News), Houston-based International Drilling Contractor, announced today that the Company earned net income of $54,149,000 or $1.69 per diluted share, on revenues of $121,604,000 for the quarter ended September 30, 2007, compared to net income of $23,179,000 or $0.74 per diluted share, on revenues of $81,817,000 for the quarter ended September 30, 2006. For the fiscal year ended September 30, 2007, the Company earned net income of $139,024,000 or $4.37 per diluted share, on revenues of $403,037,000 compared to net income of $86,122,000 or $2.74 per diluted share, on revenues of $276,625,000 for the fiscal year ended September 30, 2006.
FOR THE THREE MONTHS ENDED
SEPTEMBER 30,
2007 2006
Revenues $121,604,000 $81,817,000
Income before Income Taxes 61,309,000 27,885,000
(Provision) Benefit for Income Taxes (7,160,000) (4,706,000)
Net Income 54,149,000 23,179,000
Earnings per Common Share -
Basic 1.71 0.75
Diluted 1.69 0.74
Weighted Average Shares Outstanding -
Basic 31,673,000 31,044,000
Diluted 32,099,000 31,534,000
FOR THE FISCAL YEAR ENDED
SEPTEMBER 30,
2007 2006
Revenues $403,037,000 $276,625,000
Income before Income Taxes 159,959,000 91,836,000
(Provision) Benefit for Income Taxes (20,935,000) (5,714,000)
Net Income 139,024,000 86,122,000
Earnings per Common Share -
Basic 4.44 2.78
Diluted 4.37 2.74
Weighted Average Shares Outstanding -
Basic 31,343,000 30,936,000
Diluted 31,814,000 31,442,000
NEW CONTRACT AWARDED TO ATWOOD SOUTHERN CROSS -
Atwood Oceanics, Inc. also announced that the ATWOOD SOUTHERN CROSS, owned and operated by our wholly owned subsidiary Atwood Oceanics Pacific Limited, has been awarded a contract by ENI Spa AGIP Exploration & Production Division ("ENI") to drill two (2) wells plus options for two (2) additional wells. The contract provides for an operating dayrate of $406,000. The drilling of the two (2) firm wells is estimated to take one hundred-fifty (150) days to complete and if both option wells are drilled, the contract could extend another ninety (90) days. This contract will commence immediately upon the rig completing its current contract commitments with Melrose Resources and Turkiye Petrolleri A.O. ("TPAO") (estimated February 2008). The contract provides that ENI will provide the tow vessel to move the rig to its drilling site and pay a dayrate of $365,000 during the mobilization period (estimated ten (10) days), as well as pay a dayrate of $395,000 while the rig is being certified by Italian authorities (estimated ten (10) days) prior to commencing drilling operations.
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nice breaking out to new highs!