MUBADALA EXTENDS ATWOOD ORCA CONTRACT
Atwood Oceanics announced that one of its subsidiaries has agreed to a four-month extension on the jackup rig Atwood Orca with Mubadala Petroleum for drilling operations offshore Thailand. The new contract is at an undisclosed day rate that is higher than the current day rate, and it includes two four-month options that are priced at successively higher day rates than the new firm day rate.
As a result of this contract, the expected earliest availability of the Atwood Orca is August 2018, assuming no options are exercised. If both options were to be exercised, the drilling program would be expected to extend until approximately April 2019.
Atwood Oceanics 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 9 mobile offshore drilling units and is constructing two ultra-deepwater drillships. The Company was founded in 1968 and is headquartered in Houston, Texas.
Atwood Orca was built at PPL Shipyard in Singapore. Following delivery in May 2013, The Baker Marine Pacific Class 400 jackup was mobilized to its first location offshore Thailand for Mubadala Petroleum. (Source: Atwood Oceanics)