-----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,
 EzPMN8i03A/nzt7SWD1j27Y/ENTBwzc8UGaDLCYvh4RdqOcwAcNoRoftGf2BSsX/
 EDgDg6/GtkPC6mKMsG/mgQ==

<SEC-DOCUMENT>0000008411-04-000019.txt : 20040305
<SEC-HEADER>0000008411-04-000019.hdr.sgml : 20040305
<ACCEPTANCE-DATETIME>20040305102818
ACCESSION NUMBER:		0000008411-04-000019
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040305
FILED AS OF DATE:		20040305

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MORRISSEY WILLIAM J
		CENTRAL INDEX KEY:			0001221514

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13167
		FILM NUMBER:		04650615

	BUSINESS ADDRESS:	
		STREET 1:		P.O. BOX 218350
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77218

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ATWOOD OCEANICS INC
		CENTRAL INDEX KEY:			0000008411
		STANDARD INDUSTRIAL CLASSIFICATION:	DRILLING OIL & GAS WELLS [1381]
		IRS NUMBER:				741611874
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			0930

	BUSINESS ADDRESS:	
		STREET 1:		15835 PARK TEN PL DR
		STREET 2:		SUITE 200
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77084
		BUSINESS PHONE:		2817497845

	MAIL ADDRESS:	
		STREET 1:		15835 PARK TEN PL DR
		STREET 2:		SUITE 200
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77084
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>f4morrissey_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-03-05</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000008411</issuerCik>
        <issuerName>ATWOOD OCEANICS INC</issuerName>
        <issuerTradingSymbol>ATW</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001221514</rptOwnerCik>
            <rptOwnerName>MORRISSEY WILLIAM J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>P.O. BOX 218350</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77218</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Atwood Oceanics Incentive Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>39.10</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-03-04</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>39.10</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2014-03-03</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">These options were granted under the Atwood Oceanics, Inc. 2001 Stock Incentive Plan which was effective as of December 6, 2001.  Twenty-five (25%) of such options become exercisable at end of one year, two years, three years and four years, respectively from the date of grant.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>William J. Morrissey</signatureName>
        <signatureDate>2004-03-05</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----