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Atwood Oceanics, Inc. was an offshore drilling contractor headquartered in Houston, Texas.In October 2017, the company was acquired by Ensco plc. [1]The company owned and operated 4 ultra-deepwater drillships, 2 ultra-deepwater semisubmersibles (can drill in water up to 12,000' deep), 2 deepwater semisubmersibles, and 5 high-specification jackup rigs.
Atwood Oceanics is down 18% and Seadrill is down more than 22%, while Noble Corp and Transocean haven't fared much better. Even massively diversified 2 Offshore Drillers, 2 Reasons to Buy
Atwood Oceanics is well positioned to outperform the offshore drilling market as the company continues to enhance its fleet of jackup and floater vessels. In addition to commanding industry ...
This year didn't start well for investors in offshore drilling companies. Shares of Diamond Offshore , Atwood Oceanics , and SeaDrill continued the downtrend already in place at the end of 2013.
Valaris Limited (previously ENSCO-Rowan plc) is an offshore drilling contractor headquartered in Houston, Texas, and incorporated in Bermuda. It is the largest offshore drilling and well drilling company in the world, and owns 52 rigs, including 36 offshore jackup rigs, 11 drillships, and 5 semi-submersible platform drilling rigs. [1]
Vetco was the result of a consortium consisting of the private equity firms Candover, 3i and JP Morgan Partners, which took over ABB's oil and gas division, ABB Offshore Systems. These companies have served the upstream oil and gas industry since 1903 and are suppliers of products, systems, and services for onshore and offshore drilling. Vetco ...
In the middle of rehashing the same short-term weakness story in the deepwater drilling sector, Atwood Oceanics actually admitted that the weakness in the market was only impacting the old rigs.
When offshore drilling moved into deeper waters of up to 30 metres (98 ft), fixed platform rigs were built, until demands for drilling equipment was needed in the 100 feet (30 m) to 120 metres (390 ft) depth of the Gulf of Mexico, the first jack-up rigs began appearing from specialized offshore drilling contractors. [11]