Atwood Oceanics, Inc. (NYSE: ATW) announces that one of its subsidiaries agreed to a one well contract at an undisclosed day rate for operations offshore Northwest Africa with Kosmos Energy Ventures for the ultra-deepwater rig, the Atwood Achiever.

The new contract will commence immediately following the completion of the well in progress under the existing contract and also includes six one-well priced options. As a result of this contract, the expected earliest availability of the Atwood Achiever is March 2018, assuming no options are exercised. If all six options were to be exercised, the drilling program would be expected to extend until approximately December 2018.

Atwood Acheiver. Photo credit: Atwood Oceanics

Rob Saltiel, President and Chief Executive Officer of Atwood Oceanics, commented, "We are pleased to extend our drilling operations for Kosmos Energy in Northwest Africa. Kosmos continues to be a valued client, and we appreciate their confidence in the Atwood Achiever." Atwood Oceanics, Inc. is a leading offshore drilling contractor engaged in the drilling and completion of exploratory and developmental wells for the global oil and gas industry. The Company owns 10 mobile offshore drilling units and is constructing two ultra-deepwater drillships. The Company was founded in 1968 and is headquartered in Houston, Texas. Atwood Oceanics, Inc. common stock is traded on the New York Stock Exchange under the symbol "ATW."