1 Oct 2012production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
27 Sept 2012contract award▲ GoodMajor
Even before delivery, the still-under-construction Atwood Advantage landed a three-year, $584,000/day contract with Noble Energy in the Eastern Mediterranean, adding $639 million to backlog and pushing the company's total backlog to about $2.9 billion -- among the largest deals in its history.
27 Sept 2012material agreement▲ GoodMajor
Atwood ordered a third drillship, the $635 million Atwood Admiral, for delivery by March 2015 -- the fleet's 16th rig -- funding it partly by raising its credit facility's accordion by $200 million to $550 million.
4 Sept 2012production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
1 Aug 2012production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
2 July 2012production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
1 June 2012production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
1 May 2012production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
2 Apr 2012production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
1 Mar 2012production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
2 Feb 2012production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
18 Jan 2012material agreement● NeutralMajor
Atwood tapped the public bond market for the first time, issuing $450 million of 6.50% senior notes due 2020 -- a new funding source alongside its bank credit lines to keep financing the newbuild program.
3 Jan 2012production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
1 Dec 2011production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
23 Nov 2011material agreement● Neutral
A technical amendment to the $750 million credit facility cleared the way for Atwood to raise debt at the parent-company level, a housekeeping change tied to its financing structure.
1 Nov 2011production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
18 Oct 2011debt financing▲ GoodMajor
Atwood ordered a second ultra-deepwater drillship, the $600 million Atwood Achiever, for June 2014 delivery -- exercising the option flagged in January and continuing its rapid entry into the drillship market.
3 Oct 2011production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
1 Sept 2011production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
1 Aug 2011production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
1 July 2011production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
3 June 2011production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
9 May 2011debt financing▲ GoodMajor
Atwood replaced its credit lines with a much larger $750 million, five-year revolving facility led by Nordea, secured against six rigs including the newly-delivered OSPREY -- a big step-up in borrowing capacity to match its expanding fleet and newbuild program.
6 May 2011contract award▲ Good
The EAGLE won a one-well BHP Billiton contract at $376,000-399,000/day, extending its firm backlog to roughly January 2012.
2 May 2011production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
1 Apr 2011production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
1 Mar 2011production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
1 Feb 2011production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
31 Jan 2011debt financing▲ GoodMajor
Atwood entered the ultra-deepwater drillship business for the first time, ordering the $600 million Atwood Advantage from DSME in South Korea for delivery in September 2013, with options for one or two more -- the fleet's 15th rig and a new class of asset for the company.
19 Jan 2011debt financing▲ GoodMajor
Atwood exercised its option for a third PPL jackup, $190 million, delivery mid-2013 -- the fleet's 14th rig.