Atwood Oceanics announces contract for the sale of the jackup drilling unit
Atwood Oceanics, Inc. announced today that one of its subsidiaries had entered into a definitive agreement for the sale of its standard jackup drilling unit, the Vicksburg, to Gulf Drilling International Ltd (Q.S.C.) for a sales price of $55.4 million, the company said in its press release.
The closing of the sale is expected to occur in early 2014 following the completion of the unit's contract with its current customer, CEC International, Ltd. The transaction is subject to customary closing conditions. Rob Saltiel, Atwood Oceanics President and CEO, commented, "The sale of the Vicksburg supports our strategy of high-grading the quality and capability of our drilling rig fleet through newbuild construction and selective asset divestitures."
Atwood Oceanics, Inc. is a global offshore drilling contractor engaged in the drilling and completion of exploratory and developmental oil and gas wells. The company currently owns 13 mobile offshore drilling units and is constructing four ultra-deepwater drillships. The company was founded in 1968 and is headquartered in Houston, Texas.