20 Jan 2010drilling progress report▲ GoodMajor
The long-idle SOUTHERN CROSS finally found work: a Tunisia contract with AuDAX Resources at $154,500/day starting around June 2010, ending its stacked period.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 Sept 2009drilling progress report▲ Good
The VICKSBURG finished its upgrade and started the NuCoastal contract; the HUNTER began its long-awaited Kosmos Energy contract in Ghana at $538,000/day; the BEACON, though, finished in India still without its next job.
11 Mar 2009drilling progress report▼ BadMajor
For the first time in years, two rigs came up without follow-on work: the BEACON's India contract ends in July with nothing lined up after, and the VICKSBURG's Chevron Thailand contract ends in June with the same gap -- a sign the boom-era demand was cooling.
10 Oct 2008drilling progress report▲ GoodMajor
The HUNTER lined up a four-year megacontract with Noble Energy and Kosmos Energy in the Eastern Mediterranean at dayrates in the $500,000s -- among Atwood's richest contracts yet -- while the EAGLE lost about $2.4 million in the quarter to unplanned downtime.
4 Mar 2008drilling progress report▲ Good
Dayrates kept climbing: the SOUTHERN CROSS moved from a $320,000/day Turkish contract to a $406,000/day two-well job for ENI in Italy, while the HUNTER resumed work for Petronas (as Woodside's farm-out) at $240,000/day and the SEAHAWK's Hess contract in Equatorial Guinea extended to March 2009.
9 Jan 2008drilling progress report▼ Bad
A rough quarter for uptime: unplanned downtime on the HUNTER, EAGLE and SEAHAWK cut revenue by about $3 million ($0.09/share), while the RICHMOND spent 81 days in a planned life-extension shipyard and the HUNTER entered its own shipyard in Malta before heading to the Woodside contract now farmed out to Petronas.
5 Jan 2007drilling progress report● Neutral
The ATWOOD HUNTER lost 14 days to a required regulatory inspection in December, while the newly-mobilized ATWOOD BEACON began a 25-month drilling program in India.