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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: August 12, 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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EXHIBIT 99. CONTRACT STATUS SUMMARY AT AUGUST 12, 2004
ITEM 9. REGULATION FD DISCLOSURE
As a result of the incident that damaged the ATWOOD BEACON on July 25,
2004, the rig's contract in Indonesia has been terminated with effect from July
28, 2004 pursuant to force majuere notice provision. The drilling unit has been
transported to the builder's shipyard in Singapore and is currently being
inspected. The Company has begun the process of recovering the legs which, when
recovered, will be transported to the builder's shipyard in Singapore. Until all
the legs have been transported to Singapore and inspected, which is estimated to
be around mid-September 2004, the Company will not be able to determine the
repair period for the rig. The Company expects the drilling unit to be under a
contract following its repairs.
Additional information with respect to the Company's Contract Status
Summary at August 12, 2004 is attached hereto as Exhibit 99.1 which is being
furnished in accordance with Rule 101(e)(1) under Regulation FD and should not
be deemed to be filed.
Statements contained in this report 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 the construction and repair of a rig;
competition; operating risks; risks involved in foreign operations; risks
associated with possible disruption in operations due to terrorism; risks
associated with a possible disruption in operations due to war; 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.
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: August 12, 2004
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Contract Status Summary at August 12, 2004
EXHIBIT 99.1
ATWOOD OCEANICS, INC. AND SUBSIDIARIES
CONTRACT STATUS SUMMARY
AT AUGUST 12, 2004
NAME OF RIG LOCATION CUSTOMER CONTRACT STATUS
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SEMISUBMERSIBLES -
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ATWOOD FALCON MALAYSIA SARAWAK SHELL BERHAD The rig has commenced working under the Shell contract
("SHELL") which now involves the drilling of three firm wells
with options to drill two additional wells and is
currently anticipated to extend into January 2005.
ATWOOD HUNTER EGYPT BURULLUS GAS CO. On December 31, 2003, the rig commenced a drilling
("BURULLUS") program for Burullus which includes ten firm wells
plus options to drill six additional wells. The
drilling of the ten firm wells are expected to take
around 400 days to complete, and if all the option
wells are drilled, the contract could extend for
approximately 550 days.
ATWOOD EAGLE AUSTRALIA BHP BILLITON PETROLEUM The rig has commenced drilling its sixth well for BHP.
PTY. LTD. ("BHP") BHP has an option to drill one more well prior to the
rig commencing its drilling program for Woodside
Energy, LTD. ("Woodside"). If the one option well is
not drilled, the current drilling program with BHP
should be completed at the end of August 2004, with
the rig then commencing its two firm wells plus one
option well drilling program for Woodside. BHP has
been granted three additional option wells which can
only be drilled after the completion of the Woodside
contract and are subject to mutual agreement on
timing. In the event that the current BHP drilling
program is further extended, and Woodside is unable to
drill both firm wells before the end of November 2004,
Woodside has the right to reduce its commitment to one
firm well.
SEAHAWK MALAYSIA EXXONMOBIL EXPLORATION & EMEPMI has given written notice that they will
PRODUCTION MALAYSIA terminate the current contract upon completion of work
INC. ("EMEPMI") in progress on October 1, 2004. Additional work is
being pursued in Southeast Asia as well as other areas
of the world.
ATWOOD SOUTHERN CROSS MALAYSIA MURPHY SARAWAK OIL In March 2004, the rig commenced the Murphy drilling
COMPANY, LTD. ("MURPHY") program which now includes the drilling of four firm
wells plus options to drill an additional two wells.
The rig has been awarded a contract by Daewoo
International Corporation ("Daewoo") to drill two firm
wells plus an option to drill one additional well
offshore Myanmar. The Daewoo work would commence
immediately after completing the Murphy program. The
drilling of the two firm wells is estimated to take 60
to 80 days to complete.
SEASCOUT UNITED STATES The SEASCOUT was purchased in December 2000 for future
GULF OF MEXICO conversion to a tender-assist unit, similar to the
SEAHAWK. There are currently no upgrade plans and the
rig is currently coldstacked.
CANTILEVER JACK-UPS -
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VICKSBURG THAILAND CHEVRON OFFSHORE In May 2004 the rig's contract with ExxonMobil
(THAILAND) LIMITED Exploration & Production Malaysia Inc. ("EMEPMI") was
("CHEVRON") suspended and the rig moved to Thailand to commence a
drilling program for Chevron. This program is
expected to take approximately five months to
complete, at which time, the rig will be moved back to
Malaysia whereby EMEPMI will reinstate the rig's
contract. Upon reinstatement, the EMEPMI drilling
commitment will include the estimated five months
suspension period plus an extension of twelve months,
for a total of seventeen months commencing in October
2004. Once EMEPMI recommences its contract, it will
retain its right to terminate the contract by
providing 120 days notice.
ATWOOD BEACON SINGAPORE As a result of the incident that damaged the ATWOOD
SHIPYARD BEACON on July 25, 2004, the rig's contract in
Indonesia has been terminated with effect from July
28, 2004 pursuant to force majuere notice provision.
The drilling unit has been transported to the
builder's shipyard in Singapore and is currently being
inspected. The Company has begun the process of
recovering the legs which, when recovered, will be
transported to the builder's shipyard in Singapore.
Until all the legs have been transported to Singapore
and inspected, which is estimated to be around
mid-September 2004, the Company will not be able to
determine the repair period for the rig. The Company
expects the drilling unit to be under a contract
following its repairs.
SUBMERSIBLE -
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RICHMOND UNITED STATES APPLIED DRILLING The rig is currently drilling a second well for ADTI
GULF OF MEXICO TECHNOLOGY INC. ("ADTI") which was assigned from Helis Oil & Gas Company
("Helis"). Upon completion of this well, the rig will
have two firm wells to drill for Helis, with Helis
having options to drill four additional wells. The
drilling of the remaining firm wells is expected to
take 90 to 120 days to complete and if all four option
wells are drilled, the contract could extend to around
200 to 270 days.
MODULAR PLATFORMS -
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GOODWYN 'A' /NORTH AUSTRALIA WOODSIDE ENERGY LTD. There is currently an indefinite planned break in
RANKIN 'A' drilling activity for the two client-owned rigs
managed by the Company. The Company is involved in
maintenance of the two rigs for future drilling
programs.