ACCOUNTS RECEIVABLE AND LONG TERM CONTRACTS	6 Months Ended
Mar. 31, 2017
Receivables [Abstract]
ACCOUNTS RECEIVABLE AND LONG TERM CONTRACTS	ACCOUNTS RECEIVABLE AND LONG TERM CONTRACTS Accounts Receivable We record accounts receivable at the amount we invoice our clients. Our clients are major international corporate entities and government organizations with stable payment experience. Historically, our uncollectible accounts receivable have been immaterial, and typically, we do not require collateral for our receivables. We provide an allowance for uncollectible accounts, as necessary, on a specific identification basis. Our allowance for doubtful accounts as of March 31, 2017 and September 30, 2016 was $2.3 million and $1.2 million, respectively. Our provision for doubtful accounts for the three and six months ended March 31, 2017 was $2.4 million and $2.4 million, and for the three and six months ended March 31, 2016 was $0.8 million and $1.1 million, respectively. The provision for doubtful accounts is reported as a component of Contract drilling costs in our Unaudited Condensed Consolidated Statements of Operations. Long Term Contracts In March 2017, the client for the Atwood Osprey exercised its option to drill an additional well at an operating day rate of $185,000. Drilling services commenced on the option well in mid-April and is estimated to be completed in June 2017. In January 2017, the client for the Atwood Achiever exercised its option provided as part of the “blend and extend” agreement we entered into in October 2015 to revert the contract to the original operating day rate and original end date. Exercise of this option resulted in a one-time payment to us of $48.1 million that includes the difference in day rates, taxes, and administrative fees covering the time periods for which the reduced day rate was applicable for previously provided drilling services, and is reported as a component of Contract drilling revenue in our Unaudited Condensed Consolidated Statements of Operations for the three and six months ended March 31, 2017. Effective February 1, 2017 and continuing until the contract end date of approximately November 12, 2017, the operating day rate is $595,000.

ACCOUNTS RECEIVABLE AND LONG TERM CONTRACTS

Accounts Receivable

We record accounts receivable at the amount we invoice our clients. Our clients are major international corporate entities and government organizations with stable payment experience. Historically, our uncollectible accounts receivable have been immaterial, and typically, we do not require collateral for our receivables. We provide an allowance for uncollectible accounts, as necessary, on a specific identification basis. Our allowance for doubtful accounts as of March 31, 2017 and September 30, 2016 was $2.3 million and $1.2 million, respectively. Our provision for doubtful accounts for the three and six months ended March 31, 2017 was $2.4 million and $2.4 million, and for the three and six months ended March 31, 2016 was $0.8 million and $1.1 million, respectively. The provision for doubtful accounts is reported as a component of Contract drilling costs in our Unaudited Condensed Consolidated Statements of Operations.

Long Term Contracts

In March 2017, the client for the Atwood Osprey exercised its option to drill an additional well at an operating day rate of $185,000. Drilling services commenced on the option well in mid-April and is estimated to be completed in June 2017.

In January 2017, the client for the Atwood Achiever exercised its option provided as part of the “blend and extend” agreement we entered into in October 2015 to revert the contract to the original operating day rate and original end date. Exercise of this option resulted in a one-time payment to us of $48.1 million that includes the difference in day rates, taxes, and administrative fees covering the time periods for which the reduced day rate was applicable for previously provided drilling services, and is reported as a component of Contract drilling revenue in our Unaudited Condensed Consolidated Statements of Operations for the three and six months ended March 31, 2017. Effective February 1, 2017 and continuing until the contract end date of approximately November 12, 2017, the operating day rate is $595,000.