ATW

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Breakout!

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!