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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF EARLIEST EVENT REPORTED: July 26, 2004
ATWOOD OCEANICS, INC.
(Exact name of registrant as specified in its charter)
COMMISSION FILE NUMBER 1-13167
Internal Revenue Service - Employer Identification No. 74-1611874
15835 Park Ten Place Drive, Houston, Texas, 77084
(281) 749-7800
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ITEM 5. OTHER EVENTS
On July 26, 2004, the Company announced that the ATWOOD BEACON while
positioning for its next well in Indonesia incurred unexpected rapid leg
penetration on two of its legs. All personnel have been evacuated from the rig
with no injuries and there were no environmental consequences. A copy of the
press release announcing the damage to the rig is filed with this Form 8-K as
Exhibit 99.1 and is incorporated herein by reference.
ITEM 7. EXHIBITS
EXHIBIT NO. DESCRIPTION
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99.1 Press Release dated July 26, 2004
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ATWOOD OCEANICS, INC.
(Registrant)
/s/ James M. Holland
James M. Holland
Senior Vice President
DATE: July 26, 2004
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
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99.1 Press Release dated July 26, 2004
EXHIBIT 99.1
Houston, Texas
26 July 2004
FOR IMMEDIATE RELEASE
Atwood Oceanics (Houston-based International Offshore Drilling Contractor -
NYSE: ATW) today announced that on July 25, 2004 the ATWOOD BEACON while
positioning for its next well offshore Indonesia incurred unexpected rapid leg
penetration on two of its legs. All personnel have been evacuated from the rig
with no injuries and there were no environmental consequences. The rig is
currently stable and, following inspection on-site, the rig will be removed from
the location and is expected to be towed to a shipyard in Singapore for
inspections and repairs. While some damage to the derrick and legs has occurred,
the extent of damage to the rig is not known at this time.
The Company has insurance to cover the cost of repairs to the rig in excess
of a $1 million deductible and has Loss of Hire Insurance coverage of $70,000
per day for 180 days, which commences after a 30-day waiting period.
Statements contained in this release with respect to the future are
forward-looking statements. These statements reflect management's reasonable
judgment with respect to future events. Forward-looking statements involve risks
and uncertainties. Actual results could differ materially from those anticipated
as a result of various factors; the Company's dependence on the oil and gas
industry; the risks involved in upgrade to the Company's rigs; competition;
operating risks; risks involved in foreign operations; risks associated with
possible disruptions in operations due to terrorism; and governmental
regulations and environmental matters. A list of additional risk factors can be
found in the Company's Annual Report on Form 10-K for the year ended September
30, 2003, filed with the Securities and Exchange Commission.
Contact: Jim Holland
(281) 749-7804