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                                  UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

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                                    FORM 8-K

                                 CURRENT REPORT

                        PURSUANT TO SECTION 13 OR 15 (d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934


                DATE OF EARLIEST EVENT REPORTED: August 15, 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

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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))

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ITEM 7.01 REGULATION FD DISCLOSURE

     The  VICKSBURG  is  currently  working  offshore  Malaysia  at a dayrate of
$63,500 under its contract with  ExxonMobil  Exploration & Production  Malaysia,
Inc.  ("EMEPMI").  EMEPMI has given notice in accordance  with the contract that
the contract  will be completed  upon  completion  of  operations on the well in
progress  on  December  7,  2005.  Immediately  upon  completion  of the  EMEPMI
contract,  the rig will be  mobilized to Myanmar to commence  working  under its
contract commitment with Total Exploration and Production Myanmar ("Total"). The
Total contract involves the drilling of two (2) development wells plus an option
to drill one (1) additional well offshore  Myanmar.  The Total contract provides
for a dayrate of $92,000  and a moving  rate of $80,500  and is expected to take
approximately  80 to 100 days to complete,  including the time for  mobilization
and demobilization back to Malaysia.

     The ATWOOD HUNTER is currently working offshore Egypt conducting operations
on the 14th of a 16 well  program  and  earning a dayrate of  $62,400  under its
contract with Burullus Gas Co. ("Burullus").  In February 2005, Burullus awarded
the rig an  additional  contract to drill two firm wells,  which,  at that time,
required  that the rig be upgraded to include the  capability  of drilling  high
pressure  wells  (15,000  P.S.I.).  This new contract  provides for a dayrate of
$125,000,  an  upgrade  fee of $1.5  million  payable at the  completion  of the
equipment  upgrade  period,  and  dayrate  during the upgrade  period  which was
estimated  to take 30 days.  Burullus has now advised the Company that they will
not require the rig be upgraded to include 15,000 P.S.I. capability.  Therefore,
immediately upon completion of the current Burullus contract,  which is expected
to occur in December  2005,  the rig will commence  working under the additional
Burullus  contract  which  has an  expected  duration  of 150  to 270  days.  In
accordance  with the contract,  the $1.5 million  upgrade fee will still be paid
even though the rig will not be upgraded to drill high pressure wells.

     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.







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)



         DATE: August 15, 2005            /s/ James M. Holland
                                          James M. Holland
                                          Senior Vice President