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PROPERTY AND EQUIPMENT
 12 Months Ended
Sep. 30, 2014
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT
A summary of property and equipment by classification is as follows:
 
September 30,
(In thousands)
2014
 
2013
Drilling vessels and equipment
$
4,181,774

 
$
2,979,503

Construction work in progress
319,548

 
715,320

Drill pipe
31,265

 
26,743

Office equipment and other
35,566

 
24,439

Total cost
4,568,153

 
3,746,005

Less: Accumulated depreciation
(601,125
)
 
(581,281
)
 Property and equipment, net
$
3,967,028

 
$
3,164,724


Completed Construction Projects
Our first ultra-deep water drillship, the Atwood Advantage, was delivered from the Daewoo Shipbuilding and Marine Engineering Co., Ltd (“DSME”) yard in South Korea in December 2013. Our second ultra-deepwater drillship, the Atwood Achiever, was delivered from the DSME yard in September 2014.
The Atwood Orca, a 400-foot Pacific Class jackup drilling unit, was delivered in April 2013 from the PPL Shipyard PTE LTD in Singapore (“PPL”).
Construction Projects
In September 2012, we entered into a turnkey construction contract with DSME to construct a third ultra-deepwater drillship, the Atwood Admiral, at the DSME yard in South Korea. The Atwood Admiral is scheduled for delivery in September 2015. In June 2013, we entered into a turnkey construction contract with DSME to construct a fourth ultra-deepwater drillship, the Atwood Archer, at the DSME yard in South Korea. The Atwood Archer is scheduled for delivery in June 2016.
As of September 30, 2014, we had expended approximately $320 million on our ultra-deepwater drillships then under construction. Total remaining firm commitments for these two drilling units under construction were approximately $950 million at September 30, 2014.
Sale of Assets
In January 2014, we sold our standard jackup drilling unit, the Vicksburg, for a sales price of $55.4 million. The carrying value of the rig and its related inventory was approximately $20.5 million.
In April 2014, we sold a wholly owned subsidiary which owned our semisubmersible tender assist drilling rig, the Seahawk, for a sales price of $4.0 million. The carrying value of the subsidiary after a $2.0 million impairment charge recorded in the second quarter of the current fiscal year, approximated its sales price.