9 Nov 2006production update● Neutral
The ATWOOD FALCON's shipyard upgrade wrapped up on budget at about $32 million, though expensing those costs temporarily pushed up its quarterly operating costs.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
18 Oct 2006production update▲ Good
Woodside locked in a two-year extension for the ATWOOD EAGLE at roughly $405,000/day starting December 2007, while the FALCON's shipyard project stayed within its roughly $32 million budget.
11 Oct 2006production update▲ Good
Fleet update: the newly-upgraded SEAHAWK started up off Equatorial Guinea at $68,430/day, the SOUTHERN CROSS relocated to the Black Sea as planned, and the FALCON's Shell-funded shipyard upgrade (about $32 million, three-quarters paid by Shell) stayed on budget.
12 Sept 2006production update▼ Bad
The ATWOOD HUNTER lost nine days of revenue (about $2.2 million) in August to an unplanned equipment swap -- a minor blemish on an otherwise fully-booked fleet.
26 June 2006contract award▲ Good
The ATWOOD SOUTHERN CROSS picked up a fourth back-to-back Black Sea contract, this one with Vanco International, pushing its booked work into early 2008.
23 May 2006listing compliance notice● Neutral
The NYSE flagged a possible governance-compliance gap over director independence; Atwood said it believed it was already compliant and filed to document that five of its directors are independent.
28 Apr 2006contract award▲ Good
The ATWOOD SOUTHERN CROSS lined up a third Turkish contract, this time with state oil company TPAO at $290,000-320,000/day -- more than double the $125,000 rate it won in December, a sign of how fast dayrates were climbing.
23 Mar 2006security holder rights change▲ Good
Following the 2-for-1 stock split announced March 2, the company adjusted its shareholder rights plan's share-purchase ratio to match -- a technical follow-through with no substantive change to holders' rights.
20 Mar 2006contract award▲ Good
Fleet update: the SEAHAWK finished a Sarawak Shell job and headed into a $20 million shipyard upgrade ahead of a new long-term West Africa contract with Amerada Hess, while the SOUTHERN CROSS and EAGLE kept working through their existing Black Sea and Australian commitments.
2 Mar 2006material agreement▲ GoodMajor
Atwood ordered its first newbuild rig, a $160 million jackup from Keppel AmFELS due by September 2008, which will become the company's ninth mobile drilling unit.
15 Feb 2006material agreement● Neutral
Shareholders approved changes to the non-employee director stock plan, replacing annual stock-option grants with $40,000 of restricted stock per director each year.
14 Feb 2006security holder rights change● Neutral
Shareholders approved a restated corporate charter doubling authorized common shares to 50 million and modernizing the company's incorporation documents under Texas's new business-organizations law.
12 Dec 2005contract award▲ Good
The ATWOOD EAGLE added a one-well ENI Australia contract ($360,000/day) plus a Woodside extension ($420,000/day), stacking up behind its existing Woodside and BHP Billiton commitments offshore Australia.
5 Dec 2005contract award▲ Good
The ATWOOD SOUTHERN CROSS won a three-well contract with Toreador Turkey at $125,000/day in the Black Sea, its next job after finishing existing work off Bulgaria for Melrose Resources.