Atwood Oceanics is at work in oceans all over the world. An offshore oil and gas drilling contractor, the firm owns nine drilling rigs, including four semisubmersible rigs, three jack-ups, one submersible, and one semisubmersible tender assist vessel (which places drilling equipment on permanent platforms). Its rigs have operated in the Gulf of Mexico, offshore Southeast Asia, offshore Africa, offshore India, offshore Australia, and in the Mediterranean. In fiscal 2010 some 99% of Atwood Oceanics' sales came from its international operations; the company had contracts with 17 different customers.
In 2010 Atwood Oceanics had five rigs engaged in contract drilling in the waters around Africa. That year, the deepwater drilling moratorium in the Gulf of Mexico in the wake of the BP oil rig disaster forced the company to idle is Gulf-based rig.
With commodity prices bouncing back after the global recession, in 2010 Atwood Oceanics posted a jump in revenues and net income, primarily driven by high dayrates generated by its rig activities in Malaysia, the Middle East, and West Africa.
The company is committed to upgrading its fleet to keep pace with the increasing demand for global offshore exploration. Its ninth rig, the ultra-premium jack-up rig Atwood Aurora was completed by Keppel AmFELS in Brownsville, Texas, and delivered to the company in late 2008. During 2008 Atwood Oceanics contracted Jurong Shipyard Pte. Ltd. to build two semisubmersible drilling units, due to become operational in 2011 and 2012. It also has two-jack up rigs scheduled to come online in 2012 and 2013. In 2011 the company also ordered an ultra-deepwater drillship (to be delivered in 2013) from Daewoo Shipbuilding and Marine Engineering.
In late 2009 industry veteran Robert Saltiel replaced John Irwin as Atwood Oceanics' president and CEO. Fellow drilling contractor Helmerich & Payne owns 12% of Atwood Oceanics. Its CEO, Hans Helmerich, serves as the chairman of Atwood Oceanics. – less