Atwood Oceanics Explained

Atwood Oceanics, Inc.
Fate:Acquired by Ensco plc
Hq Location:Houston, Texas
Industry:Petroleum industry
Products:Offshore drilling
Revenue: $1.395 billion (FY 2015)
Operating Income: $531 million (FY 2015)
Net Income: $432 million (FY 2015)
Assets: $4.809 billion (FY 2015)
Equity: $2.947 billion (FY 2015)
Num Employees:1,868 (2015)

Atwood Oceanics, Inc. was an offshore drilling contractor headquartered in Houston, Texas. In October 2017, the company was acquired by Ensco plc.

The company owned and operated 4 ultra-deepwater drillships, 2 ultra-deepwater semisubmersibles (can drill in water up to 12,000' deep), 2 deepwater semisubmersibles, and 5 high-specification jackup rigs.[1]

In fiscal 2015, 5 customers accounted for a total of 63% of revenues: Noble Energy, Royal Dutch Shell, Woodside Petroleum, Chevron Corporation, and Kosmos Energy.[1]

In fiscal 2015, the company derived 76% of its revenue from its 6 deepwater drillships and semisubmersibles.[1]

In fiscal 2015, 71% of the company's revenues were derived outside of the United States. The company derived more of its revenues in Australia than in any other country. [1]

History

The company was founded in 1968 by John Atwood.[2]

The company began operation by 1970. In 1972, the company became a public company.[1]

In October 2017, the company was acquired by Ensco plc[3] (now Valaris Limited).

See also

Notes and References

  1. Web site: Atwood Oceanics, Inc. Form 10-K Annual Report . U.S. Securities and Exchange Commission.
  2. News: John Atwood, Founder Of Atwood Oceanics, Dies At Age 85 . Oil & Gas Investor . July 18, 2008.
  3. Ensco plc Completes Acquisition of Atwood Oceanics . . October 6, 2017.