Atwood Oceanics Inc.

Atwood Oceanics Inc. was a prominent offshore drilling contractor, primarily involved in the exploration and development of oil and natural gas. The company was established in 1968, and over the years, it built a reputation for providing high-quality drilling services and equipment, specializing in ultra-deepwater and deepwater drilling operations.

Key Facts about Atwood Oceanics Inc.:

1. Fleet: Atwood Oceanics operated a diverse fleet of offshore drilling units, including semi-submersible rigs, jack-up rigs, and drillships. These rigs were designed to operate in a variety of water depths and environments, enabling the company to cater to a broad range of client needs.

2. Global Operations: Atwood Oceanics had a global presence, with operations spanning major oil and gas producing regions, including the Gulf of Mexico, Asia-Pacific, West Africa, and the Mediterranean Sea. The company's international reach allowed it to serve major oil companies and national oil corporations around the world.

3. Safety and Technology: The company was known for its commitment to safety, technology innovation, and environmental stewardship. It invested in advanced drilling technologies and maintained stringent safety protocols to minimize risks and enhance operational efficiency.

4. Industry Position: Atwood Oceanics positioned itself as a leading player in the offshore drilling industry, competing with other major firms such as Transocean, Ensco, Noble Corporation, and Diamond Offshore. Its focus on high-specification rigs and deepwater capabilities helped differentiate it from competitors.

5. Merger and Acquisition: In October 2017, Atwood Oceanics was acquired by Ensco plc (now known as Valaris plc), one of the world's largest offshore drilling companies. The acquisition was part of a broader trend of consolidation in the offshore drilling industry aimed at improving economies of scale and operational synergies.

Post-Acquisition:

• Valaris plc: After the merger, Atwood Oceanics' fleet and operations were integrated into Valaris plc. This consolidation aimed to create a more robust and competitive entity capable of navigating the complex and challenging offshore drilling market.

The merger allowed the combined entity to offer an expanded fleet, enhanced technological capabilities, and a more extensive set of service offerings to its clients, thus reinforcing its position in the global offshore drilling market.