12-Month Contract Awarded to Newbuild Jack-up Atwood Manta

Atwood Manta launching jack-up
The Atwood Manta was launched from PPL Shipyard in March 2012, image: PPL

Atwood Oceanics, Inc. (NYSE: ATW) announced today that one of its subsidiaries has been awarded a contract by CEC International, Ltd. for the jack-up rig Atwood Manta which is currently under construction at PPL Shipyard PTE in Singapore.

The day rate for the work in the Gulf of Thailand and offshore Malaysia will be $145,000 and the award is for a firm duration of 12 months.  The Atwood Manta is a Pacific Class 400 design, classed by ABS, and will have a rated water depth of 400 feet, accommodation for 150 personnel, and significant offline handling features.

Contract commencement is expected in December 2012 in direct continuation of shipyard delivery, currently anticipated to be late November 2012.