Atwood Oceanics, Inc. (ATW), its international operating subsidiary, Atwood Oceanics Pacific Limited, and related subsidiaries engage in offshore drilling of exploratory and developmental oil and gas wells, and related support services. The company, based in Houston, Texas, has conducted drilling operations in most of the major offshore exploration areas of the world that include the Mediterranean, Middle East, Asia, Pacific Islands, Africa, the Americas and Australia. Atwood’s fleet consists of eight active, wholly-owned drilling units, which include four semi-submersibles, two cantilever jack-ups, one semi-submersible self-erecting tender-assist rig, and one submersible.

The company announced last week that the ATWOOD AURORA, a LeTourneau Super 116E Jack-Up currently being constructed in Brownsville, Texas by Atwood’s subsidiary Atwood Oceanics Pacific Limited has been awarded a contract by RWE DeaNile GmbH for work offshore Egypt. This contract is for a firm period of two years at an operating dayrate of $165,000. The

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I continue to knock on every piece of wood, artificial or otherwise, as we continue to stake through this earnings period without a major blowup. With so many positions this is a bit uncanny - and my assumption will be this only means next earnings period we'll be taking some body blows as what the market gives, she takes away soon enough. But for now we enjoy. Deep sea oil driller Atwood Oceanics (ATW) reports a serious beat on the bottom line and a solid beat on the top line tonight. This continues the pattern in the sector and it only gets better from here as old contracts disappear and new contracts get signed at much higher rates. Analysts have estimated $6.71 for 2008 profits and $10.49 for 2009... I continue to believe this entire group is sadly undervalued as it's been treated as a CYCLICAL ...