Atwood Oceanics, Inc. has been awarded a drilling services contract
by CNOOC Africa Limited for the semi-submersible rig Atwood Hunter.
The contract will be performed offshore Equatorial Guinea, specifies
a day rate of $337,000 for a minimum term of 90 days and includes an
option for one additional well. To the extent the term exceeds 90 days
the day rate for days 91 to 180 shall be $330,000. Any term in excess of
181 days shall have a day rate of $325,000. The Atwood Hunter is
expected to commence the contract mid-August 2014.
In connection with this contract, an Atwood subsidiary and Guinea Ecuatorial de Petroleos
(“GEPetrol”) mutually agreed to terminate the parties’ previously announced contract for the Atwood Hunter provided certain conditions are met.
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