- In a bit of upbeat news for the offshore drilling sector, Atwood Oceanics (ATW +3.1%) has reached a one-well drilling services contract with Woodside Energy (OTCPK:WOPEF, OTCPK:WOPEY) for the Atwood Osprey in offshore Australia.
- ATW says the ultra-deepwater rig will begin work in May and run ~130 days at a dayrate of $185K, or ~$24M in total.
- It's a glimmer of hope in an environment where production companies are forecast to spend less than $40B next year on exploration, their lowest total in at least seven years.