8-K 1 f8kfiled090501.txt ================================================================================ 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 EARLIEST EVENT REPORTED: September 5, 2001 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 ================================================================================ ITEM 5. OTHER EVENTS On September 5, 2001, the Company announced that Burullus Gas Company has awarded the ATWOOD HUNTER a contract to drill eleven wells in the Egyptian territorial waters of the Mediterranean Sea. A copy of the press release announcing the contract award is filed with the FORM 8-K as Exhibit 99.1 and is incorporated herein by reference. ITEM 7. EXHIBITS EXHIBIT 99.1 PRESS RELEASE DATED SEPTEMBER 5, 2001 EXHIBIT 99.2 CONTRACT STATUS SUMMARY AT SEPTEMBER 5, 2001 ITEM 9. REGULATION FD DISCLOSURE Additional information with respect to the Company's contract status summary at September 5, 2001 is attached hereto as EXHIBIT 99.2, 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 upgrade to the Company's rigs; competition; operating risks; risks involved in foreign operations; 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, 2000, 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: September 5, 2001 EXHIBIT INDEX EXHIBIT NO. DESCRIPTION ----------- --------------------- 99.1 Press Release Dated September 5, 2001 99.2 Contract Status Summary at September 5, 2001 EXHIBIT 99.1 HOUSTON, TEXAS 5 SEPTEMBER 2001 FOR IMMEDIATE RELEASE: ATWOOD OCEANICS, INC. (A HOUSTON BASED INTERNATIONAL OFFSHORE DRILLING CONTRACTOR - NYSE: ATW) ANNOUNCED TODAY THAT BURULLUS GAS COMPANY, A JOINT OPERATING COMPANY FORMED BY THE EGYPTIAN GENERAL PETROLEUM CORPORATION, BG INTERNATIONAL LIMITED AND EDISON INTERNATIONAL S.P.A., HAS AWARDED THE ATWOOD HUNTER A CONTRACT TO DRILL ELEVEN (11) WELLS (PLUS OPTIONS) IN THE EGYPTIAN TERRITORIAL WATERS OF THE MEDITERRANEAN SEA. THE ATWOOD HUNTER IS CURRENTLY IN A SHIPYARD IN MOBILE, ALABAMA UNDERGOING AN APPROXIMATE $50 MILLION WATER-DEPTH UPGRADE AND REFURBISHMENT. IMMEDIATELY UPON COMPLETING ITS UPGRADE IN OCTOBER 2001 THE RIG WILL BE LOADED ON A HEAVY LIFT VESSEL TO COMMENCE AN APPROXIMATE 30-DAY TRANSPORT TO EGYPT AT AN ESTIMATED COST OF $2.0 MILLION. THE DRILLING PROGRAM IS EXPECTED TO TAKE BETWEEN 280 AND 340 DAYS TO COMPLETE, WITH DAYRATES FOR THE FIRST THREE WELLS RANGING FROM $100,000 TO $110,000 AND A DAYRATE OF $90,000 FOR THE REMAINING EIGHT COMPLETION WELLS. Statements contained in this press 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; 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, 2000, filed with the Securities and Exchange Commission. CONTACT: JIM HOLLAND (281) 749-7804 EXHIBIT 99.2 ATWOOD OCEANICS, INC. AND SUBSIDIARIES CONTRACT STATUS SUMMARY AT SEPTEMBER 5, 2001 NAME OF RIG LOCATION CUSTOMER CONTRACT STATUS ------------------ ---------- ----------------- ------------------------- SEMISUBMERSIBLES - ------------------ ATWOOD FALCON PHILIPPINES SHELL PHILIPPINES The rig's current contract terminates upon EXPLORATION B.V. completion of the work in progress on November 15, 2001. ATWOOD HUNTER SHIPYARD IN BURULLUS GAS COMPANY The rig is currently undergoing an approximate MOBILE, ALABAMA $50 million water-depth upgrade and refurbishment. Immediately upon completing its upgrade in October 2001, the rig will be transported to Egypt to commence an eleven-well drilling program for Burullus Gas Company, estimated to take between 280 and 340 days to complete. ATWOOD EAGLE MEDITERRANEAN RASHID PETROLEUM The rig has contractual commitments in Egypt SEA COMPANY which should keep the rig employed until late fourth quarter of 2001 or first quarter of 2002. An approximate $90 million upgrade of the rig is planned immediately upon the rig completing its contractual commitments, and taking around six months shipyard time to complete. Contract opportunities to commence following the rig's upgrade are being pursued internationally. SEAHAWK MALAYSIA ESSO The rig's current contract terminates in PRODUCTION November 2003, with an option for the Operator MALAYSIA INC. to extend. ATWOOD SOUTHERN MEDITERRANEAN EL PASO PRODUCTION The rig has contractual commitments in Turkey CROSS SEA COMPANY TURKEY B.V. (El Paso Production Company Turkey B.V.) and Israel (Nordan Oil (1998) Ltd. and Samedan, Mediterranean Seas, Inc.) and German Oil Co. in Egypt which should keep the rig employed until the third or fourth quarter of fiscal 2002. SEASCOUT UNITED STATES The SEASCOUT was purchased in December 2000 for GULF OF MEXICO future conversion to a tender-assist unit, similar to the SEAHAWK, once an acceptable contract opportunity is secured. CANTILEVER JACK-UP - --------------------- VICKSBURG VIETNAM SAMEDAN VIETNAM The rig is currently drilling a second well for LIMITED Samedan Vietnam Limited in Vietnam. Upon completion of this well (estimated September 2001), the drilling unit will be moved to the Malaysia - Thailand Joint Development Area to drill 31 wells (estimated to take around 540 days) for Carigali-Triton Operating Company Sdn. Bhd. ("CTOC"). Once drilling operations commence and CTOC has funded certain contractual obligations, CTOC has the option of canceling the contract at any time after giving a sixty-day written notice of termination. SUBMERSIBLE - --------------------- RICHMOND UNITED STATES NEXEN PETROLEUM The rig is currently drilling the second long GULF OF MEXICO OFFSHORE U.S.A. well for Nexen Petroleum Offshore U.S.A., which could keep the rig employed into the first quarter of fiscal 2002. MODULAR PLATFORMS - --------------------- RIG-19 AUSTRALIA The rig is available for contract since it became idle in September 1999. RIG-200 AUSTRALIA The rig is available for contract since it became idle in June 1999. MANAGEMENT/LABOR CONTRACTS -------------------------- GOODWYN 'A' /NORTH AUSTRALIA WOODSIDE ENERGY LTD. There is currently an indefinite planned break RANKIN 'A' in drilling activity for the two client-owned rigs. The Company is involved in maintenance of the two rigs for future drilling programs.