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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: June 24, 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 JUNE 24, 2004
ITEM 9. REGULATION FD DISCLOSURE
The ATWOOD FALCON has completed its contract in China and is being
mobilized to Malaysia for its next drilling program with Sarawak Shell which
would normally take approximately 12 days to complete; however, the rig will
stop at a shipyard in the Philippines to undergo some planned maintenance and
upgrade of its quarters (estimated to take 21 days to complete). The estimated
cost of the mobilization (not including the maintenance/upgrade) will be
approximately $500,000 and will be amortized over the current 60 days firm
portion of the Sarawak Shell drilling program. The rig is expected to commence
working under the Sarawak Shell contract around August 1, 2004. This program
involves the drilling of two firm wells with options to drill three additional
wells and could extend into December 2004 if all five wells are drilled.
The ATWOOD EAGLE has three remaining wells to drill for BHP Billiton
Petroleum Pty. Ltd. ("BHP") with BHP having 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 in 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.
The ATWOOD SOUTHERN CROSS is now drilling the second of three firm wells
for Murphy Sarawak Oil Company ("Murphy"). Murphy has three remaining option
wells.
The ATWOOD BEACON continues to work under its contract with Conoco Phillips
Indonesia Ltd. ("Conoco"). This program currently involves the drilling of four
firm wells plus options to drill three additional wells.
The RICHMOND is in the process of completing the drilling of one well for
Applied Drilling Technology Inc. ("ADTI") which was assigned from Helis Oil &
Gas Company ("Helis"). Upon completion of this well, the rig will have three
firm wells to drill for Helis, with Helis having options to drill four
additional wells.
Additional information with respect to the Company's Contract Status
Summary at June 24, 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 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: June 24, 2004
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Contract Status Summary at June 24, 2004
EXHIBIT 99.1
ATWOOD OCEANICS, INC. AND SUBSIDIARIES
CONTRACT STATUS SUMMARY
AT JUNE 24, 2004
NAME OF RIG LOCATION CUSTOMER CONTRACT STATUS
SEMISUBMERSIBLES -
ATWOOD FALCON MOBILIZING TO SARAWAK SHELL ("SHELL") The rig is currently being mobilized to Malaysia for
MALAYSIA its next drilling program with Shell which would
normally take approximately 12 days to complete;
however, the rig will stop at a shipyard in the
Phillipines to undergo some planned maintenance and
upgrade of its quarters (estimated to take 21 days to
complete). The rig is expected to commence working
under the Shell contract around August 1, 2004. This
program involves the drilling of two firm wells with
options to drill three additional wells and could
extend into December 2004 if all five wells are
drilled.
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 three remaining wells to drill for BHP,
PTY. LTD. ("BHP") with BHP having 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 in 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 three firm
wells plus options to drill an additional three
wells.
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 -
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 MALAYSIA CONOCO PHILLIPS INDONESIA The rig is currently working on a drilling program for
LTD. ("CONOCO") Conoco Phillips Indonesia Ltd. which now includes the
drilling of four firm wells plus options to drill
three additional wells. The drilling of the four firm
wells is expected to take around 120 days to complete,
with any option wells drilled expected to take 30 days
each to complete.
.
SUBMERSIBLE -
RICHMOND UNITED STATES APPLIED DRILLING The rig is in the process of completing the drilling
GULF OF MEXICO TECHNOLOGY INC. ("ADTI") of one well for ADTI which was assigned from Helis Oil
& Gas Company ("Helis"). Upon completion of this
well, the rig will have three firm wells to drill for
Helis, with Helis having options to drill four
additional wells. The drilling of the three firm
wells for Helis is expected to take 90 to 120 days to
complete and if all four option wells are drille4d,
the contract could extend to around 200 to 270 days.
MODULAR PLATFORMS -
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.