Strong Organic Growth Marks Atwood Oceanics Office Headquarters Move

- New facility expands on company's global investment in drilling assets

- Building features state-of-the-art learning center for competency assurance training and accelerated skills development

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Atwood Oceanics, Inc.

Mar 10, 2014, 08:30 ET

HOUSTON, March 10, 2014 /PRNewswire/ -- Atwood Oceanics, Inc. (NYSE: ATW), a global offshore drilling contractor, today announced the move of its corporate headquarters to the Energy Crossing II building at 15011 Katy Freeway to accommodate the company's recent record growth.

Atwood Oceanics, Inc. a global offshore drilling contractor, today announced the move of its corporate headquarters to the Energy Crossing II building at 15011 Katy Freeway to accommodate the company's recent record growth. (PRNewsFoto/Atwood Oceanics, Inc.) (PRNewsFoto/ATWOOD OCEANICS, INC.)

The move also marks a pivotal point in Atwood's 45 year history as the company invests in an ongoing $4.5 billion fleet expansion and modernization program. Upon the program's completion in 2015, Atwood will have replaced its legacy assets with world class drillships, semisubmersibles and jackup rigs, reducing average life of its active rig fleet from approximately 30 years to 10 years.

Atwood Oceanics made the decision to relocate its corporate facilities after 34 years in its former location at Park Ten Place, allowing Atwood to become more operationally efficient and flexible. The move will provide the company's nearly 200 Houston-based employees with contemporary workspaces and numerous collaboration areas. The office space, which occupies the top two floors of the eight story building, also includes an employee café and social gathering area.

"With the success of our fleet transformation program, we saw the need to invest in a modern, larger headquarters facility with extensive amenities to support our company's growth," said Rob Saltiel, Atwood Oceanics' President and CEO. "This move positions Atwood for continued success and enhances our ability to attract and retain the best employees."

Included in the new space is a ground floor training center for delivering competency-based drilling and technical skills curriculum. A prominent feature of the new facility, the learning center will emphasize workforce development for both shore-based and offshore teams, improving the safety, reliability, and efficiency of Atwood's drilling services.

Located at the southwest intersection of Interstate 10 and Highway 6, the 89,000 sq. ft. Atwood space was designed by Gensler with construction services provided by Houston-based Trademark Construction. The Energy Crossing campus, leased and managed by Lincoln Property Company, includes a fitness center, secure parking garage, and full-service delicatessen accessible to Atwood employees. Atwood is targeting a Silver LEED certification by the U.S. Green Building Council for its space.

About Atwood Oceanics, Inc.
Atwood Oceanics, Inc. is a global offshore drilling contractor engaged in the drilling and completion of exploratory and developmental oil and gas wells. The company currently owns 13 mobile offshore drilling units and is constructing three ultra-deepwater drillships. The company was founded in 1968 and is headquartered in Houston, Texas. Atwood Oceanics, Inc. common stock is traded on the New York Stock Exchange under the symbol "ATW."

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SOURCE Atwood Oceanics, Inc.