Atwood Oceanics to Sell ‘Vicksburg’ Jackup Drilling Unit (USA)

Atwood Oceanics, Inc.revealed 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 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.”

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Atwood Oceanics, February 20, 2014