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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 13, 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 JULY 13, 2004
ITEM 9. REGULATION FD DISCLOSURE
The ATWOOD BEACON continues to work under its contract with Conoco Phillips
Indonesia Ltd. ("Conoco"). Conoco has now exercised the three remaining options
and has added one more well to this program for a total of eight wells to be
drilled. The initial contract provided for three firm wells to be drilled at a
dayrate of $90,000 and for four option wells to be drilled at a dayrate of
$82,400. The one additional well added will be at a dayrate of $90,000. The rig
is currently drilling this program ahead of its original estimated schedule. We
now expect that the drilling of all eight wells will be completed in October
2004.
The ATWOOD EAGLE has two remaining wells to drill for BHP, with BHP having
an option to drill one more well prior to the rig commencing its drilling
program for Woodside Energy. Ltd.
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: July 13, 2004
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Contract Status Summary at July 13, 2004
EXHIBIT 99.1
ATWOOD OCEANICS, INC. AND SUBSIDIARIES
CONTRACT STATUS SUMMARY
AT JULY 13, 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 has stopped at a shipyard in the
Philippines to undergo some planned maintenance and
upgrade of its quarters, which is estimated to be
completed around July 20, 2004 at which time the rig
will complete its mobilization to Malaysia. 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 or beyond 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 After having recently completed its third well for BHP
PTY. LTD. ("BHP") the rig has two remaining wells to drill for 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 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. The rig is currently nearing completion of the
second well.
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 eight firm wells. The drilling of the
eight wells is expected to be completed in October
2004.
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 drilled, 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.