| Rig Name | Rated Water Depth | Location | Customer | Estimated Contract End Date | Estimated Contract Day Rate | Unaudited Average Per Day Operating Costs (Not Including Tax) For the Three Months Ended August 31, 2009/Month Ended August 31, 2009 Only | Additional Comments |
Semisubmersibles: |
| ATWOOD EAGLE | 5000’ | Australia | WOODSIDE ENERGY LTD (“WOODSIDE”) | FIRM WORK – (2 years) June 2010 | Approximately $405,000 | $141,000/$125,000 | A portion of the dayrate is subject to some change due to currency exchange rate variance. |
| | | Australia | BHP BILLITON PETROLEUM | FIRM WORK – (One well deferred from previous drilling program which is expected to be drilled during the first quarter of fiscal year 2010.) | Approximately $170,000 for 35 days and $465,000 thereafter until completion. | N/A | |
| | | Australia | CHEVRON AUSTRALIA PTY. LTD. (“CHEVRON”) | FIRM WORK – (Until new semisubmersible arrives in Australia) February/March 2011 | $430,000/$450,000 Depending on firm duration of Atwood Osprey Contract | N/A | Subject to change due to cost escalation provisions in the contract. |
| | | Australia | CHEVRON | OPTION WORK – Has option to continue to use rig for a mutually agreed term after the new semisubmersible arrives in Australia. | $405,000/$425,000 Depending on firm duration of Atwood Osprey Contract | N/A | Subject to change due to cost escalation provisions in the contract. |
| | | TBD | N/A | N/A | N/A | N/A | The rig could incur ten (10) zero rate days in the first quarter of 2011 for regulatory inspections. |
| ATWOOD HUNTER | 5,000’ | Ghana | KOSMOS ENERGY GHANA HC (“KOSMOS”) | FIRM WORK - June 2010 (Estimated to take 270 days) | $538,000 | $112,000/$87,000 | Subject to change due to cost escalation provisions in the contract. |
| | | Other West Africa Designated Areas | NOBLE ENERGY INC (“NOBLE”) /KOSMOS | FIRM WORK - October/November 2012 | $538,000 to $545,000 while operating and $460,000 during all mobilization periods | N/A | Subject to change due to cost escalation provisions in the contract. |
| ATWOOD FALCON | 5,000’ | Malaysia | SARAWAK SHELL BERHAD (“SHELL”) | FIRM WORK – August 2011 | $425,000/plus approximately $4,000 of amortized per day revenues | $66,000/$69,000 | Subject to change due to cost escalation provisions in the contract. |
| ATWOOD OSPREY | 6,000’ | Under construction in Singapore with Delivery Expected in early 2011 at which time the rig will be mobilized to Australia. | CHEVRON AUSTRALIA PTY. LTD. | FIRM WORK – Early 2014 if three-year commitment or early 2017 if six-year commitments. (Contract provides for a commitment of three years with option to extend to six years at time of delivery of rig) | $470,000 (if three-year commitment) $450,000 (if six-year commitment) | N/A | Subject to change due to cost escalation provisions in the contract. |
| ATWOOD SOUTHERN CROSS | 2,000’ | West Africa | NONE | FIRM WORK – NONE | NONE | $50,000/$43,000 | Contract opportunities are currently being pursued while rig is “ready stacked” in West Africa. |
| | TBD | TBD | N/A | N/A | N/A | N/A | The rig could incur ten (10) zero rate days in the fourth quarter of fiscal year 2010 for regulatory inspections. |
| Cantilever Jack-Ups: |
| ATWOOD BEACON | 400’ | In process of being relocated from Singapore to Equatorial Guinea (“EG”) with arrival expected at the end of October 2009 | HESS EQUATORIAL GUINEA, INC. (“HESS”) | FIRM WORK – June 2010 (Estimated to take 240 days to complete the drilling of six (6) firm wells) | $110,000/plus approximately $5,000 of amortized per day revenues for 240 days. | $54,000/$49,000 (Operating costs for EG is estimated to be around $60,000 per day. In addition to the rig’s daily operating costs, we expect to incur approximately $7 million in costs to relocate the rig to EG which will be amortized over 240 days or $30,000 per day.) | |
| | | EQUATORIAL GUINEA | HESS | OPTION WORK – February 2011 (Hess has options to extend its drilling program for an additional six (6) wells or estimated 240 days.) | $110,000 | N/A | |
| | | TBD | N/A | N/A | N/A | N/A | The rig could incur ten (10) zero rate days in the second or third quarters of fiscal year 2011. |
| VICKSBURG | 300’ | Thailand | NUCOASTAL (THALAND) LIMITED (“NUCOASTAL”) | FIRM WORK – December 2009 | $95,000 (If drilling program only extends for four (4) months) | $33,000/$20,000 (Operating costs were low in July and August due to the rig being in a shipyard undergoing an upgrade.) | |
| | | | NUCOASTAL | OPTION WORK – March 2010 (NuCoastal has an option to extend the program to seven (7) months.) | $90,000 for entire period if program extends for seven (7) months | | |
| | | TBD | N/A | N/A | N/A | N/A | The rig could incur ten (10) zero rate days in the third or fourth quarter of fiscal year 2010 for regulatory inspections. |
| ATWOOD AURORA | 350’ | Egypt | RWE DEA NILE GmbH (“RWE”) | FIRM WORK – April 2011 | $133,000 less approximately $1,500 per day amortized reduction due to certain mobilization costs. | $56,000/$56,000 | Subject to change due to cost escalation provisions in the contract. |
| | | Egypt | RWE | OPTIONS – (1 Year) | TBD | N/A | |
Semisubmersible Tender Assist Unit: |
| SEAHAWK | 1,800’ | Equatorial Guinea | AMERADA HESS EQUATORIAL GUINEA, INC. (“HESS”) | FIRM WORK – September 2010 | $87,000 (Dayrate for the fourth quarter of fiscal year 2009 was reduced for approximately 30 days by $20,000 per day while the rig is being relocated to a new drilling site. | $74,000/$73,000 | Contract provides for dayrate increases based upon certain cost escalations as well as an approximately $20,000 per day reduction during periods when the rig is being relocated to a new drilling site. |
Submersible: |
| RICHMOND | 70’ | US Gulf of Mexico | NONE | FIRM WORK – NONE | NONE | $40,000/$41,000 | Contract opportunities are currently being pursued while rig is “ready stacked” in Gulf of Mexico. |
| | | US Gulf of Mexico | N/A | N/A | N/A | N/A | The rig could incur ten (10) zero rate days in the third quarter of fiscal year 2010 for regulatory inspections. |
