OREANDA-NEWS. December 22, 2015. Atwood Oceanics, Inc. (NYSE: ATW) announced today that subsidiaries of the Company have  agreed with Daewoo Shipbuilding & Marine Engineering Co. (DSME) to  delay the Company's requirement to take delivery of two newbuild ultra-deepwater drillships, the Atwood Admiral  and the Atwood Archer, to September 30, 2017 and June 30, 2018, respectively.

In consideration of the agreement, the Company will make payments of \\$50 million for each drillship on December 31, 2015, and DSME will extend all remaining milestone payments, \\$93.9 million for the Admiral and \\$305 million for the Archer, until their respective delivery dates.  The Company retains the option to take earlier delivery of each vessel, subject to a forty-five (45) day notice period to DSME. 

Atwood Oceanics, Inc. is a leading offshore drilling contractor engaged in the drilling and completion of exploratory and developmental wells for the global oil and gas industry. The Company currently owns 11 mobile offshore drilling units and is constructing two ultra-deepwater drillships.  The Company was founded in 1968 and is headquartered in Houston, Texas.  Atwood Oceanics, Inc. common stock is traded on the New York Stock Exchange under the symbol "ATW."

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