On September 11, 2013, Atwood Oceanics (ATW) gave a presentation at the Barclays CEO Energy-Power Conference. In this presentation, Atwood discussed the current strength of the offshore drilling market as well as the company's plans to exploit this market strength and grow its business.
During the period from December 2011 to June 2013, there were 76 discoveries of oil or gas at water depths greater than 500 ft. While many of these were located in the so-called "Golden Triangle," a surprisingly large number were located outside of it.
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Source: IHS Petrodata
The "Golden Triangle" is a region encompassing three places - Brazil, West Africa, and the U.S. Gulf of Mexico - that has traditionally...