8-K 1 f8kjan072002.txt FD DISCLOSURE =============================================================================== 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: January 7, 2002 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 7. EXHIBITS EXHIBIT 99.1 CONTRACT STATUS SUMMARY AT JANUARY 7, 2002 ITEM 9. REGULATION FD DISCLOSURE The ATWOOD EAGLE has been awarded a contract by Eni S.p.A. - Agip Divison ("AGIP") to drill one well off the coast of Sicily. The contract also provides AGIP with an option to drill one additional well immediately following the completion of the ATWOOD EAGLE'S upgrades, which is estimated to be around September 2002. The operating dayrate for the firm well is $90,000, with the well estimated to take 30 to 45 days to complete. AGIP is paying rig mobilization costs from Egypt to Sicily. AGIP is also paying approximately $700,000 for upgrades to the ATWOOD EAGLE to meet certain Italian requirements. Additionally, prior to commencing drilling operations, the rig must undergo certain Italian inspections estimated to take five to ten days to complete, with a dayrate of $63,750 paid during this process. Immediately upon completion of drilling operations (estimated end of February 2002) the rig will be moved to a shipyard in Greece, with a two vessel and fuel provided by AGIP to commence its approximate $90 million water-depth upgrade and refurbishment. Additional information with respect to the Company's contract status summary at January 7, 2002 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 upgrade to the Company's rigs; competition; operating risks; risks involved in foreign operations; risks associated with possible disruptions in operations due to terrorism; 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, 2001, 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: January 7, 2002 EXHIBIT INDEX EXHIBIT NO. DESCRIPTION 99.1 Contract Status Summary at January 7, 2002 EXHIBIT 99.1 ATWOOD OCEANICS, INC. AND SUBSIDIARIES CONTRACT STATUS SUMMARY AT JANUARY 7, 2002 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 present work in progress, estimated to be early 2002. Immediately upon completion of the current contract, the rig will be moved to Malaysia to commence a drilling program for Sarawak Shell Berhad and Sabah Shell Petroleum Company Ltd. ("Shell"). The drilling contract includes five firm wells plus provides Shell with options to drill five additional wells and could extend approximately one-year if all ten wells are drilled. ATWOOD HUNTER EGYPT BURULLUS GAS COMPANY The rig has commenced an eleven-well drilling program estimated to take between 280 and 340 days to complete. ATWOOD EAGLE MEDITERRANEAN ENI S.P.A. - AGIP The rig has a contractual commitment to drill SEA DIVISION ("AGIP") one-well off the coast of Sicily (estimated to take 30 to 45 days to complete) with AGIP having an option to drilling one additional well at a future date. An approximate $90 million upgrade of the rig is planned immediately upon the rig completing its current 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 November PRODUCTION 2003, with an option for the Operator to extend. MALAYSIA INC. ATWOOD SOUTHERN MEDITERRANEAN ISRAMCO The rig has contractual commitments in Israel and CROSS SEA Egypt which should keep the rig employed until the 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-UPS - ---------------------- VICKSBURG MALAYSIA - CARIGALI - TRITON The rig has commenced a drilling program expected THAILAND OPERATING COMPANY to include 31 wells (estimated to take around 540 JOINT ("CTOC") days). CTOC has the option of canceling the DEVELOPMENT contract at any time after giving a sixty-day AREA written notice of termination. ATWOOD BEACON UNDER CONSTRUCTION The Company expects the construction of this ultra-premium jack-up drilling unit to be completed in June 2003. SUBMERSIBLE - -------------- RICHMOND UNITED STATES SAMEDAN OIL The rig is currently drilling one-well estimated to GULF OF MEXICO CORPORATION be completed in February 2002, with Samedan having ("SAMEDAN") an option to drill one additional well at a future date. Contract opportunities following completion of the current well are being pursued. MODULAR PLATFORMS - -------------------- 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 in RANKIN 'A' drilling activity for the two client-owned rigs. The Company is involved in maintenance of the two rigs for future drilling programs.