Atwood Oceanics (NYSE:ATW) is an offshore drilling contractor engaged in the drilling and completion of exploratory and developmental oil and gas wells. The company owns a fleet of 16 ships, three of which are currently under construction. Its fleet includes semi-submersible, jack-up, and ultra deepwater drilling rigs. It obtains the contracts either through individual negotiation with the producer customer or by competing with other companies. The company has been in business since 1968 and its market cap is $3.59 billion.
As an offshore drilling contractor, Atwood has weathered the adversity of the last few years very well. Neither the "Great Recession" nor the Macondo disaster has been able to stop Atwood. Earnings have continued growing each year despite...
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