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Atwood Oceanics, Inc. was an offshore drilling contractor headquartered in Houston, Texas. In October 2017, the company was acquired by Ensco plc.

The company owned and operated 4 ultra-deepwater drillships, 2 ultra-deepwater semisubmersibles (can drill in water up to 12,000' deep), 2 deepwater semisubmersibles, and 5 high-specification jackup rigs.

In fiscal 2015, 5 customers accounted for a total of 63% of revenues: Noble Energy, Royal Dutch Shell, Woodside Petroleum, Chevron Corporation, and Kosmos Energy.

In fiscal 2015, the company derived 76% of its revenue from its 6 deepwater drillships and semisubmersibles.

In fiscal 2015, 71% of the company's revenues were derived outside of the United States. The company derived more of its revenues in Australia than in any other country.

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In economics and related disciplines, a transaction cost is a cost in making any economic trade when participating in a market. Oliver E. Williamson defines transaction costs as the costs of running an economic system of companies, and unlike production costs, decision-makers determine strategies of companies by measuring transaction costs and production costs. Transaction costs are the total costs of making a transaction, including the cost of planning, deciding, changing plans, resolving disputes, and after-sales. Therefore, the transaction cost is one of the most significant factors in business operation and management.

Oliver E. Williamson's Transaction Cost Economics popularized the concept of transaction costs. Douglass C. North argues that institutions, understood as the set of rules in a society, are key in the determination of transaction costs. In this sense, institutions that facilitate low transaction costs, boost economic growth.

Douglass North states that there are four factors that comprise transaction costs – "measurement", "enforcement", "ideological attitudes and perceptions", and "the size of the market". Measurement refers to the calculation of the value of all aspects of the good or service involved in the transaction. Enforcement can be defined as the need for an unbiased third party to ensure that neither party involved in the transaction reneges on their part of the deal. These first two factors appear in the concept of ideological attitudes and perceptions, North's third aspect of transaction costs. Ideological attitudes and perceptions encapsulate each individual's set of values, which influences their interpretation of the world. The final aspect of transaction costs, according to North, is market size, which affects the partiality or impartiality of transactions.

Transaction costs can be divided into three broad categories:

For example, the buyer of a used car faces a variety of different transaction costs. The search costs are the costs of finding a car and determining the car's condition. The bargaining costs are the costs of negotiating a price with the seller. The policing and enforcement costs are the costs of ensuring that the seller delivers the car in the promised condition.