Atwood Unit Adds New Drillship Order

By Houston Business Journal

Alpha Eagle Co., a subsidiary of Houston-based Atwood Oceanic Inc. (NYSE: ATW), has signed a contract to build an ultra-deepwater drillship â¿¿ the Atwood Achiever â¿¿ at the Daewoo Shipbuilding and Marine Engineering Co. Ltd. yard in South Korea.

The $600 million vessel is expected for delivery by June 30, 2014; financing will be made through a combination of available cash and Atwoodâ¿¿s senior credit facility.

The Atwood Achiever will be the 16th mobile offshore drilling unit owned by the company.

The DP-3 dual-derrick ultra deepwater vessel can operate in water depths of up to 12,000 feet and drilling depths of 40,000 feet. The Atwood Achiever will also have a 7-ram blowout preventer and accommodations for 200 workers.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/houston/news/2011/10/19/atwood-unit-adds-new-drillship-order.html?ana=thestreet

Copyright bizjournals.com 2010

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