8-K 1 f8kmar32004.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: March 3, 2004 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 5. On March 3, 2004, the Company announced that ExxonMobil Exploration Production Malaysia Inc. ("EMEPMI") has given written notice in accordance with the early termination provision of the contract that they will terminate the SEAHAWK contract upon completion of work in progress on June 29, 2004. The rig has been contracted by EMEPMI since 1992. A copy of the press release announcing this termination notice 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 MARCH 3, 2004 EXHIBIT 99.2 CONTRACT STATUS SUMMARY AT MARCH 3, 2004 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: March 3, 2004 EXHIBIT INDEX EXHIBIT NO. DESCRIPTION 99.1 Press Release Dated March 3, 2004 99.2 Contract Status Summary at March 3, 2004 EXHIBIT 99.1 Houston, Texas 3 March 2004 FOR IMMEDIATE RELEASE Atwood Oceanics, Inc., (Houston-based International Offshore Drilling Contractor - NYSE: ATW) announced today that ExxonMobil Exploration & Production Malaysia Inc. ("EMEPMI") has given written notice in accordance with the early termination provision of the contract that they will terminate the SEAHAWK contract upon the completion of work in progress on June 29, 2004. The contract provides for a demobilization fee of $1.8 million. The rig has been contracted by EMEPMI since 1992. Additional work will be pursued in Southeast Asia as well as other areas of the world. Contact: Jim Holland (281) 749-7804 EXHIBIT 99.1 ATWOOD OCEANICS, INC. AND SUBSIDIARIES CONTRACT STATUS SUMMARY AT MARCH 3, 2004 NAME OF RIG LOCATION CUSTOMER CONTRACT STATUS ----------- -------- -------- --------------- SEMISUBMERSIBLES - ------------------ ATWOOD FALCON JAPAN JAPAN ENERGY DEVELOPMENT The rig has commenced drilling the last well under its CO. LTD. ("JED") drilling program for JED. The drilling program is estimated to take around 60 to 80 days to complete. Immediately upon completing the JED contract, the rig will be moved to China to drill one well for Husky Oil China Ltd. Additional work is currently being pursued in Southeast Asia to follow the Husky well. 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 The rig has completed its mobilization to Australia PTY. LTD. ("BHP") AND and is preparing to commence the drilling program for APACHE ENERGY LIMITED BHP and Apache, which includes three firm wells plus ("APACHE") options to drill an additional four wells. Drilling of the three firm wells is expected to take three to four months to complete. 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 June 29, 2004. Additional work will be pursued in Southeast Asia as well as other areas of the world. ATWOOD SOUTHERN CROSS MOBILIZING TO MURPHY SARAWAK OIL The rig is currently being mobilized to Malaysia, with MALAYSIA COMPANY, LTD. ("MURPHY") anticipated arrival around March 10, 2004. The Company has a commitment from Murphy to drill two firm wells plus options to drill an additional four wells. Drilling of the two firm wells is expected to take 45 to 60 days to complete and if all option wells are drilled, the drilling program could extend from around 150 to 180 days. A drilling contract with Murphy should be formalized before the end of February 2004. 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, once an acceptable contract opportunity is secured. The rig is currently coldstacked. CANTILEVER JACK-UPS - ---------------------- VICKSBURG MALAYSIA EXXONMOBIL EXPLORATION & In October 2002, the rig commenced a two-year drilling PRODUCTION MALAYSIA INC. program (with an option by EMEPMI for one additional ("EMEPMI") year), with EMEPMI having the right to terminate the drilling program after one year. The estimated completion date of the current platform is around May 15, 2004. ATWOOD BEACON MALAYSIA PETRONAS CARIGALI SDN. In early August 2003, the rig commenced working under BHD. ("PETRONAS") a contract with Murphy Sarawak Oil Company, Ltd. ("Murphy") which provided for the drilling of three firm wells plus options to drill five additional wells off the coast of Malaysia. Murphy exercised its option to extend the contract for the additional five wells and then assigned four of the option wells to Petronas. Petronas has awarded the rig four more firm wells for a current total of eight wells to be drilled. Petronas is presently drilling its fourth well. The drilling program is expected to take until May/June 2004 to complete. Contract opportunities for additional work following completion of the Petronas contract are being pursued in Malaysia as well as other areas outside of Malaysia. SUBMERSIBLE - ------------- RICHMOND UNITED STATES UNION OIL COMPANY OF The rig is currently drilling the fourth of its five GULF OF MEXICO CALIFORNIA ("UNOCAL") well contract with UNOCAL. The contract should be completed by the end of March 2004. Contract opportunities for additional work following completion of the UNOCAL contract are being pursued in the United States Gulf of Mexico. 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.