$ATW (Atwood Oceanics, Inc.)

$ATW {{ '2016-03-29T13:45:28+0000' | timeago}} • Announcement

Atwood Oceanics Worldwide Limited, a subsidiary of $ATW stood as a borrower and $ATW as a guarantor, and entered into an amendment to the borrower's Senior Secured Revolving Credit Facility. In addition, the Amendment adds a new minimum liquidity financial covenant and reduces the aggregate principal amount of commitments by $152MM.

$ATW {{ '2017-10-05T18:46:03+0000' | timeago}} • Announcement

$ATW has received approval from its shareholders for the proposed merger of the company by $ESV. The companies anticipate the closing of the transaction will occur within one business day, assuming all other customary closing conditions are met.

$ESV {{ '2017-10-05T15:19:57+0000' | timeago}} • Announcement

$ESV's shareholders voted to approve the allotment and issuance of Ensco Class A ordinary shares to shareholders of $ATW in connection with the all-stock acquisition of Atwood at the company's general meeting of shareholders on Oct. 5, 2017. The final results of the general meeting indicate that 65% of shares cast voted in favor of this proposal.

$ESV {{ '2017-09-25T19:57:24+0000' | timeago}} • Announcement

$ESV issued a letter to its shareholders regarding the compelling strategic and financial rationale behind its proposed all-stock transaction with $ATW$ESV's BoD has unanimously recommended its shareholders vote "For" the acquisition at the company's upcoming general meeting on Oct. 5, 2017.

$ESV {{ '2017-09-22T14:38:15+0000' | timeago}} • Announcement

$ESV said independent proxy advisory firm Glass Lewis recommended that $ESV shareholders vote "For" the proposed all-stock transaction with $ATW at the company's upcoming general meeting of shareholders on Oct. 5, 2017.

$ATW {{ '2017-09-20T14:57:32+0000' | timeago}} • Announcement

$ATW said one of its subsidiaries agreed to a four-month extension on the jackup rig Atwood Orca with Mubadala Petroleum for drilling operations offshore Thailand. The new contract is at an undisclosed day rate higher than the current day rate and includes two four-month options priced at successively higher day rates than the new firm day rate.

$ATW {{ '2017-09-14T16:08:44+0000' | timeago}} • Announcement

$ATW, an offshore drilling company, said its fleet revenue efficiency was nearly 100% in both July and August. The company expects to register cash on hand of $474MM at end of this month. Long-term debt, comprising $448MM in senior notes and $850MM loan, is forecast to remain constant, while liquidity is expected to be $992MM as on September 30.

$ESV {{ '2017-08-18T20:50:45+0000' | timeago}} • Announcement

$ESV and $ATW announced the filing of definitive proxy materials with the US SEC in connection with the proposed merger between the two companies. $ESV and $ATW will hold their respective shareholder meetings related to the merger on 5 October 2017. The transaction is expected to close in the first week of October 2017.

$ESV {{ '2017-08-14T16:06:16+0000' | timeago}} • Announcement

$ESV filed an investor presentation with the U.S. Securities & Exchange Commission that provides an overview of the rationale for and benefits of its pending acquisition of $ATW. The company anticipates closing the transaction in the first week of October 2017.

$ATW {{ '2017-08-10T13:55:11+0000' | timeago}} • Announcement

$ATW, an offshore drilling firm, has inked a one-well contract with Kosmos Energy Ventures for an undisclosed rate for operations offshore Northwest Africa for ultra-deepwater rig, Atwood Achiever. The new contract will start shortly after the completion of the well in progress under the existing contract and includes six one-well price options.

$ESV {{ '2017-06-30T10:51:13+0000' | timeago}} • Announcement

$ESV and $ATW received notice from the Department of Justice and the Federal Trade Commission granting early termination of the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976. This is with respect to the proposed merger pursuant to which $ESV will buy $ATW in a stock transaction.

$ESV {{ '2017-05-30T12:31:38+0000' | timeago}} • Announcement

$ESV will acquire $ATW in an all-stock transaction. Under terms of merger agreement, Atwood shareholders will receive 1.60 shares of Ensco for each share of Atwood stock for $10.72 per share based on Ensco’s closing share price of $6.70 on 26 May 2017. Ensco expects to realize annual pre-tax expense synergies of $65MM for FY19 and beyond.

$ATW {{ '2017-05-08T21:09:57+0000' | timeago}} • Announcement

During 2Q17, $ATW repurchased $13.5MM principal of its senior notes at an aggregate cost of $5.1MM. Due to the 62.2% discount in repurchases, Atwood Oceanics recognized a gain on debt retirement, net of the related debt issuance costs, of $8.4MM for the quarter.

$ATW {{ '2017-05-08T21:05:33+0000' | timeago}} • Announcement

Total revenue of $ATW slid to $167.7MM in 2Q17 from $296.4MM, with the offshore driller posting a net loss of $28.9MM from last year's net income of $122.4MM. Losses were $0.37 per diluted share from a profit of $1.89 a share, as Atwood Oceanics incurred a non-cash impairment charge of $59.0MM including the write-down of Atwood Eagle.

$ATW {{ '2017-01-13T18:35:21+0000' | timeago}} • Announcement

$ATW closed the underwritten public offering of 15,525,000 shares of its common stock. The shares issued at closing included 2,025,000 shares issued pursuant to the underwriters' exercise in full of their option to purchase additional shares of common stock. $ATW received net proceeds of about $181.1MM, which will be used for corporate purposes.

$ATW {{ '2017-01-10T18:11:00+0000' | timeago}} • Announcement

$ATW priced an underwritten public offering of 13.5MM common shares at a price to the public of $12.20 per share. The company has also granted the underwriters a 30-day option to purchase up to 2.025MM additional shares. The offering is expected to close on Jan.13, 2017.

$ATW {{ '2017-01-10T12:33:16+0000' | timeago}} • Announcement

$ATW commenced an underwritten public offering of 13.5MM common shares. $ATW expects to grant the underwriters a 30-day option to buy up to 2.025MM additional shares. $ATW expects to use proceeds for general corporate purposes.

$ATW {{ '2016-12-19T14:46:04+0000' | timeago}} • Announcement

$ATW said one of its subsidiaries agreed to a one-well drilling services contract with Woodside Energy Ltd for the ultra-deepwater rig, Atwood Osprey, offshore Australia. The contract will commence between May 24, 2017 and July 7, 2017 and has an estimated duration of approx. 130 days, with the operating day rate of $185,000 per day.

$ATW {{ '2016-11-14T16:54:42+0000' | timeago}} • Webcast

$ATW stated that oil price is the big driver for companies to do the offshore drilling, especially large companies. Oil price has to sustain at 60 dollars plus level for offshore drilling to get the boost, the company said.

$ATW {{ '2016-11-14T16:38:10+0000' | timeago}} • Webcast

$ATW reported that 4Q16 revenue declined primarily due to the Atwood Advantage rig, which operated for 65 days at the reduced rate of $240,000 per day for Noble contract. The company expects capital expenditures to be $12MM during 1Q17 and this amount will be funded by cash on hand, cash flow from operations and revolving credit facility.

$ATW {{ '2016-11-14T16:16:54+0000' | timeago}} • Webcast

$ATW is encouraged by the regulatory developments occurring in Mexico and Brazil. The company believes that these two highly prospective markets have the potential for deepwater drilling activity from 2H18. $ATW did not announce any new contracts since its last earnings call. However, a number of opportunities are being progressed, $ATW said.

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