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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: September 1, 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 7.01 REGULATION FD DISCLOSURE
The Company has now commenced the process of repairing the damage incurred
by the ATWOOD BEACON on July 25, 2004. Repairs have commenced on the drilling
unit at the builder's shipyard in Singapore. One of the three legs has been
recovered and is in the process of being transported to Singapore. Until the
other two legs have been recovered, 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 ATWOOD BEACON has been awarded a
contract for a drilling program in Vietnam which must be commenced between
January 15, 2005 and April 15, 2005. A copy of the press release announcing this
contract award is filed with this Form 8-K as Exhibit EX-9.1.
Additional information with respect to the Company's Contract Status
Summary at August 31, 2004 is attached hereto as Exhibit EX-9.2 which is being
furnished in accordance with Rule 101(e)(1) under Regulation FD and should not
be deemed to be filed.
ITEM 8.01 OTHER EVENTS
On September 1, 2004 the Company announced that the ATWOOD BEACON was
awarded a contract to drill three firm wells, with options to drill three
additional wells, offshore Vietnam. This drilling program must commence between
January 15, 2005 and April 15, 2005. A copy of the press release announcing the
contract award is filed with this Form 8-K as Exhibit EX-9.1 and is incorporated
herein by reference.
ITEM 9.01 EXHIBITS
EXHIBIT NO.
EX-9.1 Press Release dated September 1, 2004
EX-9.2 Contract Status Summary at September 1, 2004
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.
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
EX - 9.1 Press Release dated September 1, 2004
EX - 9.2 Contract Status Summary at September 1, 2004
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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: September 1, 2004
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EXHIBIT EX. - 9.1
ATWOOD OCEANICS ANNOUNCES CONTRACT FOR ATWOOD BEACON
Houston, Texas
1 September 2004
FOR IMMEDIATE RELEASE
Atwood Oceanics, Inc. (Houston-based International Offshore Drilling
Contractor - NYSE: ATW) announced today that HOANG LONG and HOAN VU Joint
Operating Companies have awarded a contract to the ATWOOD BEACON to drill three
(3) firm wells, with options to drill three (3) additional wells, offshore
Vietnam. This contract provides for a dayrate of $62,000 for the three firm
wells, a dayrate of $77,000 for the three option wells, and payment of $58,000
per day plus the cost of a tow vessel and fuel to mobilize the rig from
Singapore to Vietnam. The three firm wells have a combined expected duration of
200 days and if all three option wells are drilled, the program could extend for
another 200 days. The drilling of this program must commence between January 15,
2005 and April 15, 2005.
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
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EXHIBIT EX - 9.2
ATWOOD OCEANICS, INC. AND SUBSIDIARIES
CONTRACT STATUS SUMMARY
AT SEPTEMBER 1, 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 continues to work under the Shell contract
("SHELL") which involves the drilling of three firm wells with
options to drill two additional wells. This contract
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 is expected to take
until February 2005 to complete, and if all the option
wells are drilled, the contract could extend into
September 2005.
ATWOOD EAGLE AUSTRALIA WOODSIDE ENERGY, LTD. The rig has commenced drilling the first of two firm
("WOODSIDE") wells for Woodside, with Woodside having an option to
drill one more well. The drilling of the two firm
wells is expected to take until the end of November
2004 to complete. BHP Billiton Petroleum Pty. (the
rig's prior customer) has been granted three option
wells which can be drilled after the completion of the
Woodside contract and are subject to mutual agreement
on timing.
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.
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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 extend into October 2004, 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 UNDER REPAIR AT The process of repairing the damage incurred by the
A SINGAPORE ATWOOD BEACON on July 25, 2004 continues on schedule.
SHIPYARD Repairs have commenced on the drilling unit at the
builder's shipyard in Singapore. One of the three
legs has been recovered and is in the process of being
transported to Singapore. Until the other two legs
have been recovered, 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 ATWOOD
BEACON has been awarded a contract by HOANG LONG and
HOAN VU Joint Operating Companies to drill three firm
wells, with options to drill three additional wells,
offshore Vietnam. The three firm wells have a
combined expected duration of 200 days and if all
option wells are drilled, the program could extend for
another 200 days. The drilling of this program must
commence between January 15, 2005 and April 15, 2005.
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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 until December 2004 to complete and if all four
option wells are drilled, the contract could extend to
June/July 2005.
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.
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