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ATWOOD OCEANICS ANNOUNCES CONTRACT FOR THE ATWOOD OSPREY

FOR IMMEDIATE RELEASE

HOUSTON, December 19, 2016-- Atwood Oceanics, Inc.  (ATW) announced today that one of its subsidiaries has agreed to a one-well drilling services contract with Woodside Energy Ltd for the ultra-deepwater rig, Atwood Osprey, offshore Australia. The contract will commence between May 24, 2017 and July 7, 2017 and has an estimated duration of approximately one hundred and thirty (130) days.  The operating day rate will be $185,000 per day. 

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 currently 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." For more information about the Company, please visit www.atwd.com.

Contact: Mark W. Smith
Senior Vice President and CFO
(281) 749-7840

Forward-Looking Statements

Statements contained in this press release with respect to the future, including information regarding the expected contract commencement date and duration, are forward-looking statements. These statements reflect management`s reasonable judgment with respect to future events. Forward-looking statements are subject to numerous risks, uncertainties and assumptions and actual results could differ materially from those anticipated as a result of various factors including: uncertainties related to the level of activity in offshore oil and gas exploration and development; oil and gas prices; competition and market conditions in the contract drilling industry; our ability to enter into and the terms of future contracts; possible cancelation or suspension of drilling contracts; the availability of qualified personnel; labor relations; operating hazards and risks; terrorism and political and other uncertainties inherent in foreign operations (including risk of war, civil disturbances, seizure or damage to equipment and exchange and currency fluctuations); the impact of governmental and industry laws and regulations; and environmental matters. These factors and others are described and discussed in our most recently filed annual report on Form 10-K, in our Forms 10-Q for subsequent periods and in our other filings with the Securities and Exchange Commission which are available on the SEC`s website at www.sec.gov. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no duty to update the content of this press release or any forward-looking statement contained herein to conform the statement to actual results or to reflect changes in our expectations.



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Atwood Oceanics, Inc. via GlobeNewswire

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