EXHIBIT EX. - 99.1

                        ATWOOD ANNOUNCES RICHMOND UPGRADE


Houston, Texas
11 September 2007


FOR IMMEDIATE RELEASE

     Atwood Oceanics,  Inc. (NYSE: ATW),  announced today the RICHMOND continues
to work for Helis  Oil & Gas  ("Helis")  in the Gulf of  Mexico at a dayrate  of
$80,000.  Upon  completion of the drilling of the current well  (estimated  late
September  2007),  Helis has a commitment  to drill one more well  (estimated to
take 25 days to complete). The drilling of this last well will be deferred until
sometime during the first half of fiscal year 2008.  Immediately upon completion
of the  drilling  of its  current  well,  the rig will be moved to a shipyard to
undergo a $14 million to $15 million life enhancement  upgrade estimated to take
around 60 days to complete,  which will extend the  depreciable  life of the rig
seven years from January 2008. Additional work for the rig immediately following
the upgrade period is currently being pursued.



     Statements  contained  in  this  report  with  respect  to the  future  are
forward-looking  statements.  These statements reflect  management's  reasonable
judgment with respect to future events. Forward-looking statements involve risks
and uncertainties. Actual results could differ materially from those anticipated
as a result of various factors  including;  the Company's  dependence on the oil
and gas industry;  the risks involved the  construction  of a rig;  competition;
operating  risks;  risks involved in foreign  operations;  risks associated with
possible  disruption in operations  due to terrorism;  risks  associated  with a
possible  disruption  in  operations  due to a war with Iraq;  and  governmental
regulations and environmental  matters. A list of additional risk factors can be
found in the Company's  annual report on Form 10-K for the year ended  September
30, 2006, filed with the Securities and Exchange Commission.



                                                         Contact:  Jim Holland
                                                                   281-749-7804