8-K 1 f8k21803.txt ================================================================================ UNITED STATES 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: February 18, 2003 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 N/A (Former name or former address, if changed since last report.) ================================================================================ ITEM 7. EXHIBITS EXHIBIT 99.1 CONTRACT STATUS SUMMARY AT FEBRUARY 18, 2003 ITEM 9. REGULATION FD DISCLOSURE The ATWOOD EAGLE has completed its tow to Angola and is currently making final preparations to commence drilling operations for ESSO Exploration Angola (Block 15) Limited ("ESSO"). The contract with ESSO has been formalized and will provide for a dayrate of around $86,000 which will also include approximately $3.1 million in payment for mobilization and incidental expenses. The rig should commence dayrate revenue around late February or early March 2003. Additional information with respect to the Company's Contract Status Summary at February 18, 2003 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 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 a war with Iraq; and governmental regulations and environmental matters. A list of additional risk factors can be found in the Company' annual report on Form 10-K for the year ended September 30, 2002, 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: February 18, 2003 EXHIBIT INDEX EXHIBIT NO. DESCRIPTION 99.1 Contract Status Summary at February 18, 2003 EXHIBIT 99.1 ATWOOD OCEANICS, INC. AND SUBSIDIARIES CONTRACT STATUS SUMMARY AT FEBRUARY 18, 2003 NAME OF RIG LOCATION CUSTOMER CONTRACT STATUS ------------------ --------- ---------------- ---------------------- SEMISUBMERSIBLES - ATWOOD FALCON AUSTRALIA WOODSIDE ENERGY LTD. The rig is drilling its fourth well of a ("WOODSIDE") contract with Woodside on assignment to BHP Billiton. Woodside has exercised one further option well (the fifth well of the contract) which should extend the rig's work in Australia until March/April 2003. The current contract contains an additional one well option. ATWOOD HUNTER EGYPT APACHE MEDITERRANEAN The rig finished drilling one well for German CORPORATION LDC Oil on February 6, 2003 and immediately ("APACHE") commenced one well for Apache, which could take 60 to 75 days to complete. Contract opportunities for additional work following completion of the Apache well are being pursued in the Mediterranean Area. ATWOOD EAGLE ANGOLA ESSO EXPLORATION ANGOLA The Company has executed a contract with ESSO (BLOCK 15) LIMITED for the use of the rig to drill three firm ("ESSO") wells, plus options for four additional wells, off the coast of Angola. The rig arrived Angola on February 18, 2003 and should commence dayrate revenues around late February or early March 2003. The drilling program could extend 6 to 12 months depending on the number of options exercised. SEAHAWK MALAYSIA EXXONMOBIL EXPLORATION & The rig's current contract terminates in PRODUCTION MALAYSIA INC. December 2003, with an option for the Operator to extend. ATWOOD SOUTHERN CROSS MEDITERRANEAN ENI S.P.A. - AGIP The rig commenced a two-well contract for SEA DIVISION ("AGIP") AGIP in Italy in early December 2002, with the work expected to take three to five months to complete. SEASCOUT UNITED STATES The SEASCOUT was purchased in December 2000 GULF OF MEXICO for future conversion to a tender-assist unit, similar to the SEAHAWK, once an acceptable contract opportunity is secured. CANTILEVER JACK-UPS - VICKSBURG MALAYSIA EXXONMOBIL EXPLORATION In early October 2002, the rig commenced a AND PRODUCTION MALAYSIA two-year drilling program (with an option by INC. ("EMEPMI") EMEPMI for one additional year), with EMEPMI having the right to terminate the drilling program after one year at any time with a 120 days notice period. ATWOOD BEACON UNDER The Company expects the construction of this CONSTRUCTION ultra-premium jack-up drilling unit to be completed by May/June 2003. SUBMERSIBLE - RICHMOND UNITED STATES BURLINGTON RESOURCES OIL The rig is currently drilling one well for GULF OF MEXICO & GAS COMPANY Burlington, with an estimated completion date ("BURLINGTON") in February/March 2003. Immediately upon completion of its current contract, the rig will commence a three-firm wells, plus four-option wells contract for Ocean Energy, Inc. The three firm wells have an estimated duration of 90 to 120 days. The contract contains a 30-day early termination provision. MODULAR PLATFORMS - GOODWYN 'A' /NORTH AUSTRALIA WOODSIDE ENERGY LTD. There is currently an indefinite planned RANKIN 'A' break in 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.