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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 31, 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 8.01 OTHER EVENTS

     On August 31, 2005, the Company  announced that the ATWOOD  SOUTHERN CROSS,
owned and  operated  by its wholly  owned  subsidiary  Atwood  Oceanics  Pacific
Limited,  has been  awarded a contract by Melrose  Resources  Sarl (a  Bulgarian
Company and  subsidiary of Melrose  Resources PLC) to drill three (3) firm wells
with options to drill two (2)  additional  wells off the coast of Bulgaria.  The
contract  provides for an operating  dayrate for all wells  drilled of $125,000.
Melrose shall provide a tow vessel and dayrate for the  mobilization of the rig.
If all wells are drilled,  the drilling  program could extend to six (6) months.
It is expected to take  approximately  thirty (30) days to move the rig from the
Mediterranean Sea to Bulgaria.  This contract will commence immediately upon the
rig  completing  its  current  contract  commitments  in the  Mediterranean  Sea
(estimated April to May 2006).

     A copy of the press release  announcing the ATWOOD  SOUTHERN CROSS contract
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 August 31, 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.


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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: August 31, 2005



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                                  EXHIBIT INDEX


EXHIBIT NO.                  DESCRIPTION


EX - 99.1           Press Release dated August 31, 2005




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                                                             EXHIBIT EX. - 99.1

         ATWOOD OCEANICS ANNOUNCES ATWOOD SOUTHERN CROSS CONTRACT AWARD

Houston, Texas
31 August 2005

FOR IMMEDIATE RELEASE

     Atwood  Oceanics,  Inc. (a Houston based  International  Offshore  Drilling
Contractor - NYSE ATW) announced today that the ATWOOD SOUTHERN CROSS, owned and
operated by its wholly owned subsidiary  Atwood Oceanics  Pacific  Limited,  has
been  awarded a contract  by Melrose  Resources  Sarl (a  Bulgarian  Company and
subsidiary of Melrose  Resources PLC) to drill three (3) firm wells with options
to drill  two (2)  additional  wells  off the coast of  Bulgaria.  The  contract
provides for an  operating  dayrate for all wells  drilled of $125,000.  Melrose
shall provide a tow vessel and dayrate for the  mobilization  of the rig. If all
wells are drilled,  the drilling  program could extend to six (6) months.  It is
expected  to take  approximately  thirty  (30)  days to move  the rig  from  the
Mediterranean Sea to Bulgaria.  This contract will commence immediately upon the
rig  completing  its  current  contract  commitments  in the  Mediterranean  Sea
(estimated April to May 2006).




     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

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