PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Sep. 30, 2015

Property, Plant and Equipment [Abstract]

Summary of property and equipment by classification

Our estimated useful lives of our various classifications of assets are as follows:

	Years
Drilling vessels and related equipment	5-35
Drill pipe	3
Furniture and other	3-10

A summary of property and equipment by classification is as follows:

	September 30,
(In thousands)	2015			2014
Drilling vessels and equipment	$	4,003,483		$	4,181,774
Construction work in progress	720,852			319,548
Drill pipe	55,248			31,265
Office equipment and other	36,379			35,566
Total cost	4,815,962			4,568,153
Less: Accumulated depreciation	(643,830		)	(601,125		)
Property and equipment, net	$	4,172,132		$	3,967,028

Schedule of expected delivery dates and status

The expected delivery dates of the Atwood Admiral and Atwood Archer are as follows:

	Atwood Admiral		Atwood Archer
	Expected Delivery	Status	Expected Delivery	Status
Prior to supplemental agreements	3/31/2015		12/31/2015
Supplemental Agreement No. 1:	9/30/2015	Exercised	6/30/2016	Exercised
Supplemental Agreement No. 2:
Option No. 1	3/31/2016	Exercised	12/31/2016	Unexercised
Option No. 2	9/30/2016	Unexercised	6/30/2017	Unexercised