USA: Atwood Oceanics Welcomes New Member to its BoD

ATWOOD OCEANICS, INC. announced yesterday the appointment of Phil D. Wedemeyer to its Board of Directors and to the Chair of its Audit Committee. Mr. Wedemeyer recently retired from Grant Thornton LLP, an international accounting firm, where he had served as a partner since August 2007.

Previously, Mr. Wedemeyer served with the Public Company Accounting Oversight Board (PCAOB), most recently as the Director, Office of Research and Analysis, from August 2005 to July 2007, and previously as Deputy Director, Division of Registration and Inspection, from March 2004 to August 2005. Prior to his service on the PCAOB, Mr. Wedemeyer spent more than 30 years at Arthur Andersen, SC, an international accounting firm, including over 20 years as a partner. Mr. Wedemeyer holds a BBA in Accounting from Baylor University and is a licensed Certified Public Accountant.

“Phil brings Atwood Oceanics over 40 years of professional experience in auditing, financial reporting, developing audit policy and standards, and financial oversight,” commented George S. Dotson, Chairman of the Board of Directors of Atwood Oceanics, Inc. “His work as a professional auditing firm partner, an executive with the PCAOB, and as a senior member of national professional standards groups will serve us well as he chairs the Audit Committee of our Board of Directors.”

Atwood Oceanics, Inc. is an international offshore drilling contractor engaged in the drilling and completion of exploratory and developmental oil and gas wells. The company currently owns ten mobile offshore drilling units located in the United StatesGulf of Mexico, South America, the Mediterranean Sea, West Africa, Southeast Asia and Australia, and is constructing an ultra-deepwater semisubmersible, two ultra-deepwater drillships and three high-specification jackups for deliveries in 2012, 2013 and 2014. The company was founded in 1968 and is headquartered in Houston, Texas. Atwood Oceanics, Inc.’s common stock is traded on the New York Stock Exchange under the symbol “ATW.”

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Source: Atwood Oceanics, October 21, 2011