-----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, WQ8o+9YIcPodh51CLOEFfPBDKnfbtn5SQFaYQLJHAmasyga6g5zlhTdPAcsYKMvl VxdmxFomCBw1XESbQGsToQ== 0000008411-04-000101.txt : 20041020 0000008411-04-000101.hdr.sgml : 20041020 20041020162536 ACCESSION NUMBER: 0000008411-04-000101 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20041020 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041020 DATE AS OF CHANGE: 20041020 FILER: 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 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13167 FILM NUMBER: 041087753 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 8-K 1 f8koct202004.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: October 20, 2004 ATWOOD OCEANICS, INC. (Exact name of registrant as specified in its charter) COMMISSION FILE NUMBER 1-13167 Internal Revenue Service - Employer Identification No. 74-1611874 15835 Park Ten Place Drive, Houston, Texas, 77084 (281) 749-7800 ------------ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) -1- ITEM 7.01 REGULATION FD DISCLOSURE The SEAHAWK has completed its contract with ExxonMobil Exploration & Production Malaysia Inc. ("EMEPMI") and is in the process of rigging-down in preparation moving to the demobilization site at Kemanan Supply Base, Malaysia. Under the terms of the contract, EMEPMI will pay a $1.8 million demobilization fee. The rig should arrive at the demobilization site by the end of October 2004. The rig will undergo some minor modifications and equipment change-out in preparation for its next contract. This work is expected to take approximately 30 days to complete. Sarawak Shell Berhad ("Shell") has given a commitment to utilize the SEAHAWK for a two-well drilling program offshore Malaysia. The two wells have a combined expected duration of 60 days and will commence immediately upon completion of the minor rig modifications and equipment change-out work. This commitment provides for a dayrate of $45,900. Additional work, following the Shell contract, is being pursued in Southeast Asia as well as other areas of the world. The ATWOOD FALCON is currently drilling the second of now four firm wells after Sarawak Shell Berhad ("Shell") exercised one of its two options provided under the contract. This contract is currently anticipated to extend into February 2005. The contract provides for a dayrate of $83,300, $68,300 or $53,000 depending upon water depth of wells drilled. The dayrate for the current well is $83,300, with the dayrate for the next well is also expected to be $83,300; while the dayrate for the last well is expected to be $68,300. One option remains under the Shell contract. The ATWOOD EAGLE has commenced drilling the second of three firm wells for Woodside Energy, Ltd. ("Woodside"). The drilling of the three wells is expected to take until the end of November 2004 to complete. BHP Billition Petroleum Pty. ("BHP"), the rig's prior customer, was previously granted three option wells which can be drilled after the completion of the Woodside contract and are subject to mutual agreement on timing. BHP has now exercised one of their three options, with the drilling of this well to commence immediately after the completion of the Woodside program and expected to take approximately 30 days to complete. The dayrate for the Woodside and BHP work will be $89,000 for all wells drilled in water depths between 600 meters and $109,000 for all wells drilled in water depths of 600 meters or more. All Woodside wells drilled will have a dayrate of $89,000, with the BHP option well expected to have a dayrate of $109,000. BHP retains the right to drill two additional option wells. Additional work, following the BHP commitment, is being pursued in Australia as well as other areas of the world. The ATWOOD HUNTER continues to work under its contract with Burullus Gas Co. ("Burullus") offshore Egypt which now includes the drilling of eleven firm wells after Burullus exercised one of its options to drilled six additional wells. The drilling of the eleven firm wells (at a dayrate of $62,400) is expected to take until February 2005 to complete, and if all the option wells are drilled the contract could extend into September 2005. The ATWOOD SOUTHERN CROSS continues to work under its contract with Murphy Sarawak Oil Company, Ltd. ("Murphy") with the rig currently drilling the fourth of now five firm wells, after Murphy exercised one option well and relinquished its right for one remaining option well. This contract is currently anticipated to extend into December 2004. Immediately following completion of the Murphy contract, the rig will drill a two-well plus one option well program for Daewoo International Corporation ("Daewoo") offshore Myanmar. The drilling of the two firm wells is estimated to take 60 to 80 days to complete. The Daewoo contract, similar to the Murphy contract, provides for a dayrate of $35,000 for the firm wells and $40,000 for any option well drilled. Additionally, Daewoo will provide a tow vessel plus pay the moving rate during the mobilization to Myanmar, which is estimated to take 14 to 16 days to -2- complete. Additional work, following the Daewoo contract, is being pursued in Southeast Asia as well as other areas of the world. In May 2004, the VICKSBURG's contract with ExxonMobil Exploration & Production Malaysia Inc. ("EMEPMI") was suspended and the rig moved to Thailand to commence a drilling program for Chevron Offshore (Thailand) Limited. This drilling program has now been completed, with the rig relocated back to Malaysia and the EMEPMI contract reinstated. The EMEPMI drilling commitment includes the five months that the contract was suspended plus an extension of twelve months, for a total of seventeen months commencing in October 2004. The reinstated contract provides for a dayrate of $64,500 for the first five months, representing the period the contract was suspended, and $63,500 during the additional twelve months extension. The repair to the ATWOOD BEACON continues on schedule. The rig is expected to return to service in January 2005. It has been awarded a contract in Vietnam which must be commenced between January 15, 2004 and April 15, 2005. The contract provides for the drilling of three firm wells and options to drill three additional wells. The three firm wells have a combined expected duration of 200 days and if all option wells are drilled, this program could extend for another 200 days. The contract provides for a dayrate of $62,000 during the drilling of the three firm wells and $77,000 during the drilling of any option wells. The RICHMOND is currently drilling a third well for Applied Drilling Technology Inc. which was assigned from Helis Oil & Gas Company ("Helis"). Upon completion of this well, the rig will have three firm wells to drill for Helis, with Helis retaining one option to drill two additional wells. The drilling of the three remaining firm wells is expected to take until February/March 2005 to complete and if the option wells are drilled, the contract could extend to June/July 2005. The dayrate for the current well and for the next well is $29,000. The dayrate for the last two firm wells is $30,000 and if Helis exercised its option to drill two additional wells, the dayrate will be $32,500. ITEM 9.01 FINANCIAL STATEMENT AND EXHIBITS EXHIBIT NO. 99.1 Contract Status Summary at October 20, 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 and repair 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. -3- 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: October 20, 2004 -4- EXHIBIT INDEX EXHIBIT NO. DESCRIPTION - ----------- ------------ 99.1 Contract Status Summary at October 20, 2004 -5-
EXHIBIT 99.1 ATWOOD OCEANICS, INC. AND SUBSIDIARIES CONTRACT STATUS SUMMARY AT OCTOBER 20, 2004 NAME OF RIG LOCATION CUSTOMER CONTRACT STATUS - ----------- -------- -------- --------------- SEMISUBMERSIBLES - - ------------------ ATWOOD FALCON MALAYSIA SARAWAK SHELL BERHAD The rig continues to work under the Shell contract ("SHELL") with the rig currently drilling the second of now four firm wells after Shell exercised one of its two options provided under the contract. This contract is currently anticipated to extend into February 2005. One option remains under the Shell contract. ATWOOD HUNTER EGYPT BURULLUS GAS CO. On December 31, 2003, the rig commenced a drilling ("BURULLUS") program for Burullus which currently includes eleven firm wells plus options to drill five additional wells. The drilling of the eleven firm wells is expected to take until February 2005 to complete, and if all the option wells are drilled, the contract could extend into September 2005. ATWOOD EAGLE AUSTRALIA WOODSIDE ENERGY, LTD. The rig has commenced drilling the second of three ("WOODSIDE") firm wells for Woodside. The current Woodside drilling program is expected to take until the end of November 2004 to complete. BHP Billiton Petroleum Pty. ("BHP"), the rig's prior customer, was previously granted three option wells which can be drilled after the completion of the Woodside contract and are subject to mutual agreement on timing. BHP has now exercised one of their three options, with the drilling of this well to commence immediately after the completion of the Woodside program and is expected to take approximately 30 days to complete. BHP retains the right to drill two option wells using the rig. Additional work, following the BHP commitment, is being pursued in Australia as well as other areas of the world. SEAHAWK MALAYSIA SARAWAK SHELL BERHAD The rig has completed its contract with ExxonMobil ("SHELL") Exploration & Production Malaysia and is in the process of rigging-down in preparation for moving to the demobilization site at Kemanan Supply Base, Malaysia. The rig should arrive at the demobilization site by the end of October 2004. The rig will undergo some minor modifications and equipment change-out in preparation for its next contract. This work is expected to take approximately 30 days to complete. Shell has given a commitment to utilize the SEAHAWK for a two-well drilling program offshore Malaysia. The two-well drilling program has an expected duration of 60 days, and will commence immediately upon completion of the minor rig modifi- cations and equipment change-out work. Additional work, following the Shell contract, is being pursued in Southeast Asia as well as other areas of the world. -6- ATWOOD SOUTHERN CROSS MALAYSIA MURPHY SARAWAK OIL The rig continues to work under the Murphy contract COMPANY, LTD. ("MURPHY") with the rig currently drilling the fourth of now five firm wells with Murphy relinquishing its last option. This contract is currently anticipated to extend into December 2004. The rig has been awarded a contract by Daewoo International Corporation ("Daewoo") to drill two firm wells plus an option to drill one additional well offshore Myanmar. The Daewoo work will commence immediately after completing the Murphy program, and is expected to take 90 days to complete. 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. There are currently no upgrade plans and the rig is currently coldstacked. CANTILEVER JACK-UPS - - ---------------------- VICKSBURG MALAYSIA EXXONMOBIL EXPLORATION & In May 2004, the rig's contract with EMEPMI was PRODUCTION MALAYSIA INC. suspended and the rig moved to Thailand to commence a ("EMEPMI") drilling program for Chevron Offshore (Thailand) Limited. This program has now been completed. The rig has been relocated back to Malaysia and the EMEPMI contract reinstated. The EMEPMI drilling commitment includes the five months that the contract was suspended plus an extension of twelve months, for a total of seventeen months commencing in October 2004. EMEPMI retains its right to terminate the contract by providing 120 days notice. ATWOOD BEACON UNDER REPAIR AT The process of repairing the damage incurred by the A SINGAPORE ATWOOD BEACON on July 25, 2004 continues on schedule. SHIPYARD The rig is expected to return to service in January 2005. The ATWOOD BEACON has been awarded a contract by HOANG LONG and HOAN VU Joint Operating Companies to drill three firm wells, with options to drill three additional wells, offshore Vietnam. The three firm wells have a combined expected duration of 200 days and if all option wells are drilled, the program could extend for another 200 days. The drilling of this program must commence between January 15, 2005 and April 15, 2005. SUBMERSIBLE - - -------------- RICHMOND UNITED STATES APPLIED DRILLING The rig is currently drilling a third well for ADTI GULF OF MEXICO TECHNOLOGY INC. ("ADTI") which was assigned from Helis Oil & Gas Company ("Helis"). Upon completion of this well, the rig will have three firm wells to drill for Helis, with Helis retaining one option to drill two additional wells. The drilling of the three remaining firm wells is expected to take until February/March 2005 to complete and if the option wells are drilled, the contract could extend to June/July 2005. -7- 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.
-8- -----END PRIVACY-ENHANCED MESSAGE-----