Jun 13 - Atwood Oceanics Announces Contract for the Atwood Beacon

Source Press Release
Company ENI S.p.A. 
Tags Service Contracts
Date June 06, 2013

Atwood Oceanics, Inc.  (NYSE: ATW) announced today thatone  of its subsidiaries has  been awarded a drilling  services contract for theAtwood  Beacon by  Eni S.p.A.   The Atwood  Beacon is currently working offshoreIsrael  under a contract  which is expected  to conclude by  July 2013.  The rigwill  then mobilize to  Italy in direct  continuation of this  contract and willincur certain costs related to compliance with local laws and regulations.

The  new contract has a firm duration period of two years plus one optional yearperiod,  exercisable with one  year notice from  the expiry of  the firm period.This contract adds $128 million in revenue backlog.

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