EXHIBIT 99.1

Houston, Texas

3 February 2010

FOR IMMEDIATE RELEASE

EARNINGS-

ATWOOD OCEANICS, INC., Houston-based International Drilling Contractor, announced today that the Company earned net income of $66,984,000 or $1.03 per diluted share, on revenues of $164,243,000 for the quarter ended December 31, 2009 compared to net income of $78,363,000 or $1.22 per diluted share, on revenues of $165,504,000 for the quarter ended December 31, 2008.

	FOR THE THREE MONTHS ENDED DECEMBER 31,
	2009			2008
Revenues	$	164,243,000		$	165,504,000
Income before Income Taxes		81,255,000			91,716,000
Provision for Income Taxes		(14,271,000	)		(13,353,000	)
Net Income		66,984,000			78,363,000
Earnings per Common Share -
Basic		1.04			1.22
Diluted		1.03			1.22
Weighted Average Shares
Outstanding -
Basic		64,303,000			64,081,000
Diluted		65,023,000			64,332,000