Deepwater drilling has gotten a bad rap lately, but one of the field's top innovators, Houston-based Atwood Oceanics Inc., has been pinpointed as among the world's "100 Fastest-Growing Companies" by Fortune magazine.
"Our annual collection of rising phenoms reveals who — and what — is succeeding even in a stagnant economy," explains Fortune, which ranked Atwood Oceanics as number 72 on the roster. The Energy Corridor company illustrates that even in a recession, the globe still has a fierce appetite for oil and gas.
The offshore drilling corporation has been making waves in deep-water drilling since 1970 and claims over 1,400 employees worldwide. It's repping Houston's larger-than-life business style, having recently completed construction of its ninth rig off the coast of Egypt. A deepwater unit currently under construction in Singapore will drill up to 10,000 feet in Australian waters in 2012.
Any fear about an impending Gulf Coast offshore drilling moratorium isn't worrying Atwood, which posted 24 percent revenue growth in the past three years. Although it slipped from its No. 45 rank last year, it's the only Houston-based firm that made the Fortune Top 100.