-----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, RfSxPrCUTQ/q41+P8+qvMEKa5QBu/JAurS8GKBvcxcGvYAcaFL5/QKSUKO5Knd/O Y+97edjDj7ZmiIlHHL9CbA== 0000008411-05-000003.txt : 20050106 0000008411-05-000003.hdr.sgml : 20050106 20050106145522 ACCESSION NUMBER: 0000008411-05-000003 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050106 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050106 DATE AS OF CHANGE: 20050106 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: 05515492 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 f8k01062005.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: January 6, 2005 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 Repairs to the ATWOOD BEACON from damaged incurred in July 2004 have been completed, with a leg length of 489 feet. During an appropriate period between future contracts, we plan to increase the leg length to 517 feet, giving the rig a nominal water depth rate of 400 feet, as per the original design. The rig is preparing to commence its mobilization to Vietnam for its drilling commitment with HOANG LONG and HOAN VU Joint Operating Companies to drill three firm wells, with options to drill three additional wells. Drilling of the three firm wells is expected to take 200 days to complete and if all of the option wells are drilled the drilling program could be extended another 200 days. The dayrate for the three firm wells is $62,000, with a dayrate of $77,000 for any option wells drilled. The ATWOOD SOUTHERN CROSS has completed its drilling program for Murphy Sarawak Oil Company, Ltd. and is preparing to move to Myanmar to commence work under its contract with Daewoo International Corporation ("Daewoo") to drill two (2) firm wells, with an option to drill one (1) additional well. The Daewoo work is expected to take 90 days to complete. The dayrate for the two firm wells is $35,000 and if the option well is drilled, the dayrate will be $40,000. Following completion of the Daewoo work, the rig is expected to be idle up to four weeks for certain equipment upgrades and required maintenance. Additional work for the rig is being pursued in Southeast Asia and other parts of the world. The SEAHAWK is currently drilling at a dayrate of $45,900 the first of its two well drilling program for Sarawak Shell Berhad ("Shell"). This drilling program is expected to extend into February 2005. Following completion of the current Shell work, the rig is expected to be idle for approximately four weeks for certain maintenance work. Additional work for the rig is being pursued in Southeast Asia, as well as other areas of the world. The RICHMOND is currently preparing to commence drilling the fifth well under its contract with Helis Oil & Gas Company ("Helis"). Upon completion of this well, the rig will have three (3) additional firm wells to drill for Helis, with Helis having an option to drill two additional wells. The drilling of the remaining firm wells is estimated to be completed in July/August 2005 and, if the option wells are drilled, the contract could extend into November 2005. The dayrate to apply during the fifth and sixth wells is $30,000 and the dayrate to apply to the seventh and eighth wells is $32,500. The dayrate for the option wells will be $39,500. Additional information with respect to the Company's Contract Status Summary at January 6, 2005 is attached as Exhibit 99.2, which is being furnished in accordance with rule 101 (e) (i) under Regulation FD and should not be deemed to be filed. ITEM 8.01 OTHER EVENTS On January 6, 2005, the Company announced that the ATWOOD EAGLE has recently completed the first of three consecutive wells for BHP Billiton Petroleum Pty. ("BHP") in Australia after BHP exercised its two remaining options in its current drilling program. The drilling of these three wells is estimated to take until the end of February 2005 to complete. With the exercise of the options by BHP to drill two additional wells, the rig will not have any idle time between completion of the current BHP drilling program and commencement of its next drilling program for Woodside Energy Ltd. ("Woodside"). Immediately following the completion of drilling of the three wells for BHP, the rig will commence its drilling commitment with Woodside to drill four firm wells with options to drill three additional wells off the coast of Australia. The drilling of the four firm wells is expected to take approximately four months to complete. The dayrates for the wells to be drilled under the current BHP and Woodside drilling programs are $89,500 for wells drilled in water depths below 600 meters and $109,000 for wells drilled in water depths of 600 meters or more -2- except that the first well drilled in water depth between 600 meters and 700 meters for Woodside will have a dayrate of $99,000. The Company also announced that the ATWOOD EAGLE has been awarded additional work by BHP following the completion of its contract with Woodside to drill one (1) firm well with an option to drill one (1) additional well. The dayrate for the additional BHP work is a split currency rate of US $120,000 plus Australian $40,000, which equates to a total dayrate of approximately US $150,000. A copy of the press release announcing the additional work awarded to the ATWOOD EAGLE is filed with the Form 8-K as Exhibit 99.1 and is incorporated herein by reference. ITEM 9.01 EXHIBITS EXHIBIT NO. EX-99.1 Press Release dated January 6, 2005 EX-99.2 Contract Status Summary at January 6, 2005 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, 2004, 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: January 6, 2005 -4- EXHIBIT INDEX EXHIBIT NO. DESCRIPTION EX - 99.1 Press Release dated January 6, 2005 EX - 99.2 Contract Status Summary at January 6, 2005 -5- EXHIBIT EX. - 99.1 ATWOOD ANNOUNCES ADDITIONAL WORK AWARDED TO THE ATWOOD EAGLE Houston, Texas 06 January 2005 FOR IMMEDIATE RELEASE Atwood Oceanics, Inc. (Houston-based International Offshore Drilling Contractor - NYSE: ATW) announced today that the ATWOOD EAGLE has recently completed the first of three consecutive wells for BHP Billiton Petroleum Pty. ("BHP") in Australia after BHP exercised its two remaining options in its current drilling program. The drilling of these three wells is estimated to take until the end of February 2005 to complete. With the exercise of the options by BHP to drill two additional wells, the rig will not have any idle time between completion of the current BHP drilling program and commencement of its next drilling program for Woodside Energy Ltd. ("Woodside"). Immediately following the completion of drilling of the three wells for BHP, the rig will commence its drilling commitment with Woodside to drill four firm wells with options to drill three additional wells off the coast of Australia. The drilling of the four firm wells is expected to take approximately four months to complete. The dayrates for the wells to be drilled under the current BHP and Woodside drilling programs are $89,500 for wells drilled in water depths below 600 meters and $109,000 for wells drilled in water depths of 600 meters or more except that the first well drilled in water depth between 600 meters and 700 meters for Woodside will have a dayrate of $99,000. The Company also announced that the ATWOOD EAGLE has been awarded additional work by BHP following the completion of its contract with Woodside to drill one (1) firm well with an option to drill one (1) additional well. The dayrate for the additional BHP work is a split currency rate of US $120,000 plus Australian $40,000, which equates to a total dayrate of approximately US $150,000. Statements contained in this release 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, 2004, filed with the Securities and Exchange Commission. Contact: Jim Holland (281) 749-7804 -6- EXHIBIT 99.2 ATWOOD OCEANICS, INC. AND SUBSIDIARIES CONTRACT STATUS SUMMARY AT JANUARY 6, 2005 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 third 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. Immediately upon completion of the Shell contract, the rig will be moved to Japan to commence a two-firm well program for Japan Energy Development Co., Ltd. The drilling of these two wells could take until approximately August 2005 to complete. ATWOOD HUNTER EGYPT BURULLUS GAS CO. On December 31, 2003, the rig commenced a drilling ("BURULLUS") program for Burullus which after the exercise of all six options will be a drilling program totaling sixteen wells. The drilling of all sixteen wells is expected to take until approximately September 2005 to complete. ATWOOD EAGLE AUSTRALIA BHP BILLITON PETROLEUM The rig is currently drilling the first of three ("BHP") consecutive wells for BHP, which is expected to take until the end of February 2005 to complete. Immediately upon completion of the current BHP work, the rig will commence a contract with Woodside Energy, Ltd. ("Woodside") to drill four (4) firm wells with options to drill three additional wells off the coast of Australia. The drilling of the four firm wells is expected to take approximately four months to complete, and if all the option wells are drilled, the Woodside work would be completed around August 2005. Upon completion of the Woodside drilling program the rig will return to work for BHP to drill one (1) firm well (expected to take 30 days to complete) with an option to drill one (1) additional well. SEAHAWK MALAYSIA SARAWAK SHELL BERHAD The rig is drilling the first of its two well drilling ("SHELL") program for Shell. The drilling program is expected to extend into mid February 2005. Additional work, following the Shell contract, is being pursued in Southeast Asia as well as other areas of the world. ATWOOD SOUTHERN CROSS MALAYSIA DAEWOO INTERNATIONAL The rig is preparing to mobilize to Myanmar to CORPORATION ("DAEWOO") commence the Daewoo contract which includes the drilling of two (2) firm wells plus an option to drill one (1) additional well. The firm work is expected to take 90 days to complete. The option well, if drilled, would have a duration of approximately 45 days. Additional work, following the Daewoo contract, is being pursued in Southeast Asia. -7- 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 SINGAPORE HOANG LONG AND HOAN VU Repairs to the rig from damage incurred in July 2004 JOINT OPERATING COMPANIES have been completed, with a leg length of 489 feet. ("HOANG LONG") During an appropriate period between future contracts, we plan to increase the leg length to 517 feet, giving the rig a nominal water depth rate of 400 feet, as per the original design. The rig is preparing to mobilize to Vietnam for commencement of its drilling contract with HOANG LONG which includes the drilling of three (3) firm wells with options to drill three (3) additional wells. 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. SUBMERSIBLE - - ------------- RICHMOND UNITED STATES HELIS OIL & GAS COMPANY The rig is preparing to commence drilling the fifth GULF OF MEXICO ("HELIS") well under the Helis contract. Upon completion of this well, the rig will have three (3) firm wells to drill for Helis, with Helis retaining one option to drill two (2) additional wells. The drilling of the four firm wells is expected to take until July/August 2005 to complete and if the option wells are drilled, the contract could extend to November 2005. 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.
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