-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Vvdlg+ZpWbAc/3BgOt3NSlMdqGw4fiiA3G3X3RHrwNvWBFjPsY4NQQxz5usQXEYU cI4Tf3epCgiD33rRnxybNg== 0000950155-96-000066.txt : 19960819 0000950155-96-000066.hdr.sgml : 19960819 ACCESSION NUMBER: 0000950155-96-000066 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19960816 ITEM INFORMATION: Other events FILED AS OF DATE: 19960816 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: SONAT OFFSHORE DRILLING INC CENTRAL INDEX KEY: 0000314047 STANDARD INDUSTRIAL CLASSIFICATION: DRILLING OIL & GAS WELLS [1381] IRS NUMBER: 720464968 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07746 FILM NUMBER: 96616729 BUSINESS ADDRESS: STREET 1: 4 GREENWAY PLAZA CITY: HOUSTON STATE: TX ZIP: 77046 BUSINESS PHONE: 7138717500 MAIL ADDRESS: STREET 1: 4 GREENWAY PLAZA CITY: HOUSTON STATE: TX ZIP: 77046 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported): August 16, 1996 SONAT OFFSHORE DRILLING INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation) 1-7746 72-0464968 (Commission File Number) (IRS Employer Identification No.) 4 Greenway Plaza, Houston, Texas 77046 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (713) 871-7500 Item 5 Other Events As more fully described in the Registration Statement on Form S-4 (No. 333-09105) of Sonat Offshore Drilling Inc. (the "Company"), the Company has made an offer to acquire the shares of Transocean ASA ("Transocean"). Transocean has provided to the Company the following information regarding Transocean's results for the three and six month periods ending June 30, 1996 and 1995, which are presented in accordance with Norwegian generally accepted accounting principles. Such principles differ in certain significant respects from U.S. generally accepted accounting principles, as discussed in such Registration Statement. Transocean had net income for the quarter ended June 30, 1996, of Nkr 344 million compared to a net loss of Nkr 9 million for the same period in 1995. Operating income for the three months ended June 30, 1996 and 1995, was Nkr 51 million and Nkr 42 million, respectively. Revenues for the 1996 quarter were Nkr 796 million, compared to Nkr 759 million for the same period in 1995. For the six months ended June 30, 1996, net income was Nkr 320 million compared to a net loss of Nkr 118 million for the six months ended June 30, 1995. Operating income for the six months ended June 30, 1996 was Nkr 67 million compared to a breakeven position for the corresponding 1995 period. Revenues for the first six months of 1996 were Nkr 1,619 million compared to revenues of Nkr 1,458 million in the 1995 period. The increases in net income for the three and six months ended June 30, 1996, were primarily due to a Nkr 332 million gain on the sale of substantially all of the assets of Anchor Drilling Fluids. Other favorable factors impacting net income include a gain of Nkr 21 million related to the sale of the Transocean No. 4, improved dayrates and increased rig utilization and lower interest expense due to the refinancing of debt in December 1995 and January 1996. Interest expense decreased Nkr 20 million from Nkr 50 million in the quarter ended June 30, 1995 to Nkr 30 million in the corresponding 1996 period. For the six months ended June 30, 1996 and 1995, interest expense was Nkr 66 million and Nkr 107 million, respectively. Partially offsetting these favorable results were Nkr 36 million of expenses related to the turnkey operations in Argentina, including a Nkr 22 million provision for the possible closing of the operation, and decreased operating income of Nkr 28 million due to a strike by the employees of oil service companies in Norway. SIGNATURE --------- 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. SONAT OFFSHORE DRILLING INC. By /s/ Robert L. Long ------------------------- Date: August 16, 1996 Robert L. Long Senior Vice President -----END PRIVACY-ENHANCED MESSAGE-----