-----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, Pa/Blq1uP6q0mOGZRm+l27xNNYQpHsVkzXVin64/JK0VMbztc3wkBY/uWhdbCUWy YhVVnq+x7mvItbfqFL8paA== 0000008411-05-000047.txt : 20050412 0000008411-05-000047.hdr.sgml : 20050412 20050412105518 ACCESSION NUMBER: 0000008411-05-000047 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050412 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050412 DATE AS OF CHANGE: 20050412 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: 05745376 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 f8kapr122005.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: April 12, 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 Additional information with respect to the Company's Contract Status Summary at April 12, 2005 is attached hereto as Exhibits 99.2, which is being furnished in accordance with rule 101 (e) (1) under Regulation FD and should not be deemed to be filed. ITEM 8.01 OTHER EVENTS On April 12, 2005, the Company announced that through its wholly owned subsidiary Atwood Oceanics Pacific Limited the ATWOOD SOUTHERN CROSS has been awarded contracts by BG International Limited, ("BG"), Isramco and ENI SpA AGIP Exploration & Production Division ("ENI") to drill one (1) firm well for each company in the Mediterranean Sea. The BG and Isramco contracts provide for a dayrate of $60,000. The ENI contract provides for a day rate of approximately US $73,000. The ENI contract also provides for one (1) option well. All wells are expected to take 45 days to complete except for the Isramco well which has an estimated duration of 30 days. The three contracts provide for a combined mobilization fee and other lump sum advance payments of approximately $9.0 million. The ATWOOD SOUTHERN CROSS is expected to complete its current drilling program for Daewoo International Corporation ("Daewoo") in Myanmar by the end of May 2005. Upon completion of its current drilling program, Daewoo will provide a tow vessel to move the rig to Singapore. After completion of a survey which is expected to take approximately one (1) week, the rig will then be moved to the Mediterranean Sea which will take approximately 60 days. Upon arriving in the Eastern Mediterranean Sea, the rig will drill one (1) well each for BG and Isramco, estimated to take 60 to 90 days to complete. The rig will then enter a shipyard for approximately 30 days to undergo certain required inspections, Italian certification and equipment upgrades prior to commencing the ENI contract. The ENI contract provides for a payment of $775,000 during this shipyard period, which is included in the lump sum payments total referred to above. The ATWOOD EAGLE is currently working under a contract with Woodside Energy, Ltd. ("Woodside") offshore Australia which now includes the drilling of seven (7) firm wells after Woodside exercised its option to drill three additional wells. All seven (7) wells have a dayrate ranging from $89,000 to $109,000, depending upon water depths of each well. Woodside has also been provided with options to drill three (3) additional wells with a dayrate of approximately $180,000 for the first option well and approximately $160,000 for the last two option wells. Upon completion of the current Woodside program (estimated September 2005), the rig will drill one (1) firm well for BHP Billiton Petroleum ("BHP"), with BHP having an option to drill one (1) additional well. If Woodside exercises its three option wells, the rig will then return to Woodside after BHP's one firm and one option well program to drill three wells before commencing BHP's second commitment of eight (8) firm wells, with four (4) additional option wells. If all option wells are drilled, the combined Woodside and BHP drilling programs could extend into 2007. A copy of the press release announcing the contract awards to the ATWOOD SOUTHERN CROSS and options exercised under the ATWOOD EAGLE contract is filed with the Form 8-K as Exhibit 99.1 and is incorporated herein by reference. -2- ITEM 9.01 EXHIBITS EXHIBIT NO. EX-99.1 Press Release dated April 12, 2005 EX-99.2 Contract Status Summary at April 12, 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: April 12, 2005 -4- EXHIBIT INDEX EXHIBIT NO. DESCRIPTION EX - 99.1 Press Release dated April 12, 2005 EX - 99.2 Contract Status Summary at April 12, 2005 -5- EXHIBIT EX. - 99.1 ATWOOD ANNOUNCES CONTRACT AWARDS TO THE ATWOOD SOUTHERN CROSS AND OPTIONS EXERCISED UNDER THE ATWOOD EAGLE CONTRACT Houston, Texas 12 April 2005 FOR IMMEDIATE RELEASE Atwood Oceanics, Inc. (Houston based International Offshore Drilling Contractor - NYSE ATW) announced that through its wholly owned subsidiary Atwood Oceanics Pacific Limited the ATWOOD SOUTHERN CROSS has been awarded contracts by BG International Limited, ("BG"), Isramco and ENI SpA AGIP Exploration & Production Division ("ENI") to drill one (1) firm well for each company in the Mediterranean Sea. The BG and Isramco contracts provide for a dayrate of $60,000. The ENI contract provides for a day rate of approximately US $73,000. The ENI contract also provides for one (1) option well. All wells are expected to take 45 days to complete except for the Isramco well which has an estimated duration of 30 days. The three contracts provide for a combined mobilization fee and other lump sum advance payments of approximately $9.0 million. The ATWOOD SOUTHERN CROSS is expected to complete its current drilling program for Daewoo International Corporation ("Daewoo") in Myanmar by the end of May 2005. Upon completion of its current drilling program, Daewoo will provide a tow vessel to move the rig to Singapore. After completion of a survey which is expected to take approximately one (1) week, the rig will then be moved to the Mediterranean Sea which will take approximately 60 days. Upon arriving in the Eastern Mediterranean Sea, the rig will drill one (1) well each for BG and Isramco, estimated to take 60 to 90 days to complete. The rig will then enter a shipyard for approximately 30 days to undergo certain required inspections, Italian certification and equipment upgrades prior to commencing the ENI contract. The ENI contract provides for a payment of $775,000 during this shipyard period, which is included in the lump sum payments total referred to above. The ATWOOD EAGLE is currently working under a contract with Woodside Energy, Ltd. ("Woodside") offshore Australia which now includes the drilling of seven (7) firm wells after Woodside exercised its option to drill three additional wells. All seven (7) wells have a dayrate ranging from $89,000 to $109,000, depending upon water depths of each well. Woodside has also been provided with options to drill three (3) additional wells with a dayrate of approximately $180,000 for the first option well and approximately $160,000 for the last two option wells. Upon completion of the current Woodside program (estimated September 2005), the rig will drill one (1) firm well for BHP Billiton Petroleum ("BHP"), with BHP having an option to drill one (1) additional well. If Woodside exercises its three option wells, the rig will then return to Woodside after BHP's one firm and one option well program to drill three wells before commencing BHP's second commitment of eight (8) firm wells, with four (4) additional option wells. If all option wells are drilled, the combined Woodside and BHP drilling programs could extend into 2007. 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; -6- 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 -7- EXHIBIT 99.2 ATWOOD OCEANICS, INC. AND SUBSIDIARIES CONTRACT STATUS SUMMARY AT APRIL 12, 2005 NAME OF RIG LOCATION CUSTOMER CONTRACT STATUS - ----------- -------- -------- ---------------- SEMISUBMERSIBLES - - ------------------ ATWOOD FALCON JAPAN JAPAN ENERGY DEVELOPMENT The rig has commenced a two-firm well program for CO. LTD. Japan Energy Development Co., Ltd. The drilling of these two wells is estimated to take until September 2005 to complete. Upon the completion of the Japan Energy contract, the rig will return to Malaysia to drill seven (7) firm wells with options for six (6) additional wells for Sarawak Shell. The drilling of the seven (7) firm wells is expected to take approximately nine months to complete, and if all option wells are drilled, the contract could extend another seven to eight months. ATWOOD HUNTER EGYPT BURULLUS GAS CO. The rig continues to work under its sixteen (16) wells ("BURULLUS") drilling program for Burullus, which is expected to take until September 2005 to complete. Immediately upon completion of the current drilling program, the rig will commence an estimated 30-days equipment upgrade period to enable the rig to have the capability of drilling high pressure wells (15,000 P.S.I.). Upon completion of the upgrade, the rig will commence drilling two (2) firm wells for Burullus off the cost of Egypt, which is expected to take 270 days to complete. ATWOOD EAGLE AUSTRALIA WOODSIDE ENERGY, LTD. The rig is currently working under a contract with ("WOODSIDE") Woodside to drill seven (7) firm wells. The drilling of the seven firm wells is expected to extend into August 2005. Woodside has been provided options to drill three (3) additional wells. Upon completion of the current Woodside drilling program, the rig will return to work for BHP Billiton Petroleum to drill one (1) firm well (expected to take 30 days to complete) with an option to drill one (1) additional well. The rig has been awarded an additional contract by BHP to drill eight (8) firm wells with options for four (4) additional wells off the Northwest coast of Australia. The drilling of the eight (8) firm wells is estimated to take approximately ten (10) months to complete and if all four (4) option wells are drilled the contract could extend an additional three (3) to four (4) months. If all of the option wells are drilled, the combined Woodside and BHP drilling programs could extend into 2007. SEAHAWK MALAYSIA SARAWAK SHELL BERHAD / The rig is currently at a dockside location in SABAH SHELL PETROLEUM Malaysia and will be off dayrate through April 2005. COMPANY LIMITED ("SHELL") The rig will return to work in Malaysia in early May 2005 for Shell on a contract that should extend until the rig commences preparation for its contract commitment in 2006 for Amerada Hess Equatorial Guinea, Inc. ("Hess"). The Hess contract is for a firm period of 730 days with four options of 180 days each. -8- ATWOOD SOUTHERN CROSS MYANMAR DAEWOO INTERNATIONAL The rig is currently working under a contract with CORPORATION ("DAEWOO') Daewoo to drill three (3) wells, which is expected to be completed in May 2005. Following completion of the Daewoo drilling program, the rig will be demobilized to Singapore to prepare for its relocation to the Mediterranean Sea. The rig is expected to arrive in the Eastern Mediterranean Sea in August 2005 and will drill one well each for BG International Limited and Isramco, which is expected to take 60 to 90 days to complete. Upon completing the drilling of these two wells, the rig will enter a shipyard for approximately 30 days for required inspections, Italian certifications and equipment upgrades prior to drilling one firm well for ENI SpA AGIP Exploration Productions ("ENI"), with ENI having an option to drill one additional well. 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 October 2004, the rig commenced drilling under a PRODUCTION MALAYSIA INC. seventeen month program for EMEPMI. EMEPMI retains ("EMEPMI") its right to terminate the contract by providing 120 days notice. ATWOOD BEACON VIETNAM HOANG LONG AND HOAN VU The rig is currently working under a drilling program JOINT OPERATING COMPANIES for Hoang Long which includes the drilling of three ("HOANG LONG") (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 currently drilling the eighth well under GULF OF MEXICO ("HELIS") the Helis contract. Upon completion of this well, the rig will have two (2) firm wells to drill for Helis, with Helis having an option to drill four (4) additional wells. The drilling of the current firm wells is expected to take until July 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. -9-
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