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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: February 18, 2003
ATWOOD OCEANICS, INC.
(Exact name of registrant as specified in its charter)
COMMISSION FILE NUMBER 1-13167
TEXAS 74-1611874
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
15835 Park Ten Place Drive 77084
Houston, Texas (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: 281-749-7800
N/A
(Former name or former address, if changed since last report.)
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ITEM 7. EXHIBITS
EXHIBIT 99.1 CONTRACT STATUS SUMMARY AT FEBRUARY 18, 2003
ITEM 9. REGULATION FD DISCLOSURE
The ATWOOD EAGLE has completed its tow to Angola and is currently making
final preparations to commence drilling operations for ESSO Exploration Angola
(Block 15) Limited ("ESSO"). The contract with ESSO has been formalized and will
provide for a dayrate of around $86,000 which will also include approximately
$3.1 million in payment for mobilization and incidental expenses. The rig should
commence dayrate revenue around late February or early March 2003.
Additional information with respect to the Company's Contract Status
Summary at February 18, 2003 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 the construction 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 a war with Iraq; and governmental regulations
and environmental matters. A list of additional risk factors can be found in the
Company' annual report on Form 10-K for the year ended September 30, 2002, 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: February 18, 2003
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Contract Status Summary at February 18, 2003
EXHIBIT 99.1
ATWOOD OCEANICS, INC. AND SUBSIDIARIES
CONTRACT STATUS SUMMARY
AT FEBRUARY 18, 2003
NAME OF RIG LOCATION CUSTOMER CONTRACT STATUS
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SEMISUBMERSIBLES -
ATWOOD FALCON AUSTRALIA WOODSIDE ENERGY LTD. The rig is drilling its fourth well of a
("WOODSIDE") contract with Woodside on assignment to BHP
Billiton. Woodside has exercised one further
option well (the fifth well of the contract)
which should extend the rig's work in
Australia until March/April 2003. The
current contract contains an additional one
well option.
ATWOOD HUNTER EGYPT APACHE MEDITERRANEAN The rig finished drilling one well for German
CORPORATION LDC Oil on February 6, 2003 and immediately
("APACHE") commenced one well for Apache, which could
take 60 to 75 days to complete. Contract
opportunities for additional work following
completion of the Apache well are being
pursued in the Mediterranean Area.
ATWOOD EAGLE ANGOLA ESSO EXPLORATION ANGOLA The Company has executed a contract with ESSO
(BLOCK 15) LIMITED for the use of the rig to drill three firm
("ESSO") wells, plus options for four additional
wells, off the coast of Angola. The rig
arrived Angola on February 18, 2003 and
should commence dayrate revenues around late
February or early March 2003. The drilling
program could extend 6 to 12 months depending
on the number of options exercised.
SEAHAWK MALAYSIA EXXONMOBIL EXPLORATION & The rig's current contract terminates in
PRODUCTION MALAYSIA INC. December 2003, with an option for the
Operator to extend.
ATWOOD SOUTHERN CROSS MEDITERRANEAN ENI S.P.A. - AGIP The rig commenced a two-well contract for
SEA DIVISION ("AGIP") AGIP in Italy in early December 2002, with
the work expected to take three to five
months to complete.
SEASCOUT UNITED STATES The SEASCOUT was purchased in December 2000
GULF OF MEXICO for future conversion to a tender-assist
unit, similar to the SEAHAWK, once an
acceptable contract opportunity is secured.
CANTILEVER JACK-UPS -
VICKSBURG MALAYSIA EXXONMOBIL EXPLORATION In early October 2002, the rig commenced a
AND PRODUCTION MALAYSIA two-year drilling program (with an option by
INC. ("EMEPMI") EMEPMI for one additional year), with EMEPMI
having the right to terminate the drilling
program after one year at any time with a 120
days notice period.
ATWOOD BEACON UNDER The Company expects the construction of this
CONSTRUCTION ultra-premium jack-up drilling unit to be
completed by May/June 2003.
SUBMERSIBLE -
RICHMOND UNITED STATES BURLINGTON RESOURCES OIL The rig is currently drilling one well for
GULF OF MEXICO & GAS COMPANY Burlington, with an estimated completion date
("BURLINGTON") in February/March 2003. Immediately upon
completion of its current contract, the rig
will commence a three-firm wells, plus
four-option wells contract for Ocean Energy,
Inc. The three firm wells have an estimated
duration of 90 to 120 days. The contract
contains a 30-day early termination provision.
MODULAR PLATFORMS -
GOODWYN 'A' /NORTH AUSTRALIA WOODSIDE ENERGY LTD. There is currently an indefinite planned
RANKIN 'A' break in 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.