Atwood Oceanics Announces the Award of a One Well Drilling Program in the U.S. Gulf of Mexico for the RICHMOND

• Press Release
• Source: Atwood Oceanics, Inc.
• On 6:11 pm EDT, Monday October 26, 2009

HOUSTON, Oct. 26 /PRNewswire-FirstCall/ -- ATWOOD OCEANICS, INC., (NYSE: ATW - News) a Houston-based International Drilling Contractor, announced that the RICHMOND has been awarded a contract by Applied Drilling Technology Inc. to drill one well in the U.S. Gulf of Mexico, at a dayrate of $32,500. The drilling of this well is estimated to take 30 to 40 days to complete. Additional contract opportunities following the completion of the drilling of this one-well commitment at the end of November or early December 2009 are currently being pursued.

Statements contained in this report with respect to the future are forward-looking statements. These statements reflect management's reasonable judgment with respect to future events. Forward-looking statements involve risks and uncertainties. Actual results could differ materially from those anticipated as a result of various factors including; the Company's dependence on the oil and gas industry; the risks involved in the construction of a rig and commencement of operations of the rig following delivery; competition; operating risks; risks involved in foreign operations; risks associated with possible disruption in operations due to terrorism, acts of piracy, embargoes, war or other military operations; and governmental regulations and environmental matters. A list of additional risk factors can be found in the Company's annual report on Form 10-K for the year ended September 30, 2008, filed with the Securities and Exchange Commission.