-----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, QUZZzImphPqhKoj7f0O79ktrFG1hU368h6rLoDdMSPSb3FaoJ0xknzFzUe4rPTlx hmyWtbU/TsI9e3vNRyYloQ== 0000008411-07-000010.txt : 20070123 0000008411-07-000010.hdr.sgml : 20070123 20070123102852 ACCESSION NUMBER: 0000008411-07-000010 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070123 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070123 DATE AS OF CHANGE: 20070123 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: 07544921 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 f8kjan232007.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 23, 2007 ATWOOD OCEANICS, INC. (Exact name of registrant as specified in its charter) COMMISSION FILE NUMBER 1-13167 TEXAS (State or other jurisdiction of incorporation or organization) 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 Company's Fleet Status Report at January 23, 2007 is attached hereto as Exhibit 99.1. Such information is being furnished under Regulation FD and should not be deemed to be filed under Section 18 of the Exchange Act. The Fleet Status Report has also been posted on the Company's website at www.atwd.com. All changes from the Company's last Fleet Status Report dated January 5, 2007 are highlighted in yellow on the Company's website. 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 including; the Company's dependence on the oil and gas industry; the risks involved the construction 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 a war with Iraq; 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, 2006, filed with the Securities and Exchange Commission. ITEM 9.01 EXHIBITS EXHIBIT 99.1 FLEET STATUS REPORT JANUARY 23, 2007 -2- 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 23, 2007 -3- EXHIBIT INDEX EXHIBIT NO. DESCRIPTION 99.1 Fleet Status Report at January 23, 2007 -4- EX-99 2 exh991.txt ATWOOD OCEANICS, INC. AND SUBSIDIARIES FLEET STATUS REPORT AS OF JANUARY 23, 2007 As used herein, "we", "us", and "our" refers to Atwood Oceanics, Inc. and its subsidiaries, except where the context indicates otherwise. Statements contained in this Fleet Status Report, including information regarding our estimated rig availability, contract duration, future dayrates, future daily operating costs, future effective tax rates, customer or contract status 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 including: our dependence on the oil and gas industry; the risks involved in upgrade, repair and construction of our rigs; competition; operating risks; risks involved in foreign operations; risks associated with possible disruptions in operations due to terrorism; risks associated with a possible disruption in operations due to the war with Iraq and governmental regulations and environmental matters. A list of additional risk factors can be found in our annual report on Form 10-K for the year ended September 30, 2006, filed with the Securities and Exchange Commission. All information in this Fleet Status Report is as of the date indicated above. We undertake no duty to update the content of this Fleet Status Report or any forward-looking statement contained herein to conform the statement to actual results or to reflect changes in our expectations. CHANGES WILL BE HIGHLIGHTED IN YELLOW UNAUDITED ESTIMATED AVERAGE PER RATED ESTIMATED CONTRACT DAY OPERATING ADDITIONAL RIG NAME WATER LOCATION CUSTOMER CONTRACT END DATE DAYRATE COSTS (NOT COMMENTS DEPTH INCLUDING TAX) FOR THE THREE MONTHS ENDED NOVEMBER 30, 2006/MONTH ENDED NOVEMBER 30, 2006 ONLY - ---------------------------------------------------------------------------------------------------------------------------- SEMISUBMERSIBLES: - ---------------------------------------------------------------------------------------------------------------------------- ATWOOD 5000' Australia BHP BILLITON FIRM WORK - 5 wells at $80,000/84,000 Wells are EAGLE PETROLEUM PTY (7 wells $158,000 subject to a ("BHPB") remaining 1 well at change in including current $168,000 sequence and operation) 1 well at a portion of October 2007 $150,000 the dayrate is subject to some change due to currency exchange rate variance. - --------------------------------------------------------------------------------------------------------------------------- Australia BHPB OPTIONS - $168,000 N/A A portion of (3 wells) the dayrate December 2007 (if is subject to all three option some change wells are drilled) due to currency exchange rate variance. - ---------------------------------------------------------------------------------------------------------------------------- 1 - --------------------------------------------------------------------------------------------------------------------------- Australia ENI Spa AGIP FIRM WORK - $360,000 N/A We expect the EXPLORATION & (1 well) well to take PRODUCTION January 2008 40 to 45 days DIVISION ("ENI") (assuming that to complete. all of the above option wells are drilled) - --------------------------------------------------------------------------------------------------------------------------- Australia WOODSIDE FIRM WORK - $405,000 N/A A portion of ENERGY LTD (2 years) the dayrate January 2010 is subject to (assuming that some change all of the above due to option wells are currency drilled) exchange rate variance. - --------------------------------------------------------------------------------------------------------------------------- Australia N/A N/A N/A N/A The rig could be off dayrates for ten to fourteen days during the first quarter of fiscal year 2008 for required regulatory inspections and maintenance. - ---------------------------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------------------------- ATWOOD HUNTER 5,000' Mauritania/ WOODSIDE FIRM WORK - $240,000 $56,000/53,000 Operating Libya April/May 2008 (Mauritania) costs are $245,000 expected to (Libya) be $55,000 to (The rig $60,000 per incurred two day while (2) days of working in zero rate in Mauritania/Libya; October 2006 however, due to an costs could equipment be higher repair during any issue). relocation period. - ---------------------------------------------------------------------------------------------------------------------------- Mauritania N/A N/A N/A N/A The rig was off dayrate for fourteen days during December 2006 for required regulatory inspections and maintenance. - ---------------------------------------------------------------------------------------------------------------------------- TBD WOODSIDE OPTIONS - TBD N/A Two (2) six-month options. April 2009, if exercised at negotiated market rate. - ---------------------------------------------------------------------------------------------------------------------------- 2 - ---------------------------------------------------------------------------------------------------------------------------- ATWOOD FALCON 5,000' Malaysia SARAWAK SHELL FIRM WORK - $113,000 $92,000/$90,000 (The $24 BERHAD ("SHELL") July 10, 2007 (The rig (Due to million Shell incurred expensing reimbursement four (4) certain costs is being days of zero incurred in amortized as rate at the the shipyard, revenues over end of its operating the remaining shipyard costs were firm contract period due high for the commitment to weather month and following the related three months upgrade (32 delays and ended months) which another November 30, will increase three (3) 2006. dayrate days of zero revenues by rate after approximately leaving the $24,000.) shipyard due to final testing and commissioning of new equipment) - -------------------------------------------------------------------------------------------------------------------------- Malaysia SHELL FIRM WORK - $160,000/ N/A Most of the (2 years) $200,000 work during July 2009 (dayrate this period depends on is expected water depth to be at the of each well) $160,000 dayrate level. - -------------------------------------------------------------------------------------------------------------------------- Malaysia SHELL OPTION - TBD N/A (1 year) - --------------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------------- ATWOOD 2,000' Turkey TOREADOR TURKEY FIRM WORK - $125,000 $57,000/$52,000 It now SOUTHERN CROSS LIMITED (2 wells (The rig appears that ("TOREADOR") remaining incurred two TOREADOR will including current (2) days of drill all of well) zero rate in its wells March 2007 November due before the (Subject to to an MELROSE TOREADOR drilling equipment program. The this third well repair dayrate for prior to issue.) the last well commencing the will be MELROSE work.) $135,000. - --------------------------------------------------------------------------------------------------------------------------- Bulgaria MELROSE FIRM WORK - $125,000 N/A RESOURCES (3 wells) ("MELROSE") June 2007 (Subject to TOREADOR drilling this third well prior to commencing the MELROSE work.) - --------------------------------------------------------------------------------------------------------------------------- 3 - --------------------------------------------------------------------------------------------------------------------------- Bulgaria MELROSE OPTIONS - $125,000 N/A (2 wells) July 2007 (if both option wells are drilled) - --------------------------------------------------------------------------------------------------------------------------- Turkey TURKIYE FIRM WORK - $290,000 N/A PETROLLERI A.O. (3 wells) ("TPAO") October 2007 (assuming above option wells are drilled) - --------------------------------------------------------------------------------------------------------------------------- Turkey TPAO OPTIONS - $320,000 N/A If TPAO (3 wells) exercises January 2008 their (assuming MELROSE options, the option wells well sequence drilled and TPAO for TPAO exercises options option wells to drill all and VANCO three option wells could wells) change. - --------------------------------------------------------------------------------------------------------------------------- Ukraine VANCO FIRM WORK - $305,000 N/A See above INTERNATIONAL (1 well) LTD. ("VANCO") March 2008 (assuming MELROSE and TPAO options are exercised) - --------------------------------------------------------------------------------------------------------------------------- Ukraine VANCO OPTIONS - $325,000 N/A See above (1 well) April 2008 (assuming MELROSE, TPAO and VANCO options are all exercised) - --------------------------------------------------------------------------------------------------------------------------- 4 - --------------------------------------------------------------------------------------------------------------------------- CANTILEVER JACK-UPS: - --------------------------------------------------------------------------------------------------------------------------- ATWOOD BEACON 400' India GUJARAT STATE FIRM WORK - $113,000 $36,000/$46,000 PETROLEUM January 2008 CORPORATION LTD ("GSPC") - --------------------------------------------------------------------------------------------------------------------------- India GSPC FIRM WORK - $133,500 N/A (12 months) January 2009 - --------------------------------------------------------------------------------------------------------------------------- India GSPC OPTIONS - (1 TBD N/A year) - --------------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------------- VICKSBURG 300' Thailand CHEVRON OVERSEAS FIRM WORK - $94,500 $40,000/$37,000 PETROLEUM June 2007 ("CHEVRON") - --------------------------------------------------------------------------------------------------------------------------- Thailand CHEVRON FIRM WORK - $154,000 N/A (2 years) June 2009 - --------------------------------------------------------------------------------------------------------------------------- Thailand N/A N/A N/A N/A The rig could be off dayrate for ten to fourteen days during the first quarter of fiscal year 2008 for required regulatory inspections and maintenance. - --------------------------------------------------------------------------------------------------------------------------- SEMISUBMERSIBLE TENDER ASSIST UNIT: - --------------------------------------------------------------------------------------------------------------------------- SEAHAWK 1,800' Equatorial AMERADA HESS FIRM WORK - $68,430 $74,000/$70,000 Contract Guinea EQUATORIAL September 2008 (plus provides for GUINEA, INC. approximately dayrate ("HESS") $19,000 of increases amortized based upon per day certain cost revenue.) escalations beginning with the second year of the contract. - ---------------------------------------------------------------------------------------------------------------------------- 5 - ---------------------------------------------------------------------------------------------------------------------------- Equatorial HESS OPTIONS - $68,430 N/A Dayrate Guinea (2 years) subject to September 2010 increase due (if all four to contract six-month cost options are escalations. exercised) - ---------------------------------------------------------------------------------------------------------------------------- SUBMERSIBLE: - ---------------------------------------------------------------------------------------------------------------------------- RICHMOND 70' US Gulf of HELIS OIL & GAS FIRM WORK - $80,000 $34,000/33,000 Mexico ("HELIS") (4 wells remaining, including current well) May/June 2007 - ---------------------------------------------------------------------------------------------------------------------------- US Gulf of HELIS OPTIONS - TBD N/A Mexico September/October 2007 (one option for four additional wells) - ---------------------------------------------------------------------------------------------------------------------------- US Gulf of N/A N/A N/A N/A The rig could Mexico be off dayrate for ten to fourteen days during the second quarter of fiscal year 2008 for required regulatory inspections and maintenance. - ---------------------------------------------------------------------------------------------------------------------------- MANAGEMENT CONTRACT - ---------------------------------------------------------------------------------------------------------------------------- NORTH RANKIN N/A Australia WOODSIDE FIRM WORK - Daily margin The `A' May 2007 of around management $5,000 contract could terminate in May 2007. - -----------------------------------------------------------------------------------------------------------------------------
NOTE - EXPECTED TAX RATE 1) The effective tax rate for fiscal year 2007 is now expected to be 15% to 20%. Virtually all of the Company's expected tax provision for fiscal year 2007 relates to taxes in foreign jurisdictions. Working in foreign jurisdictions with nontaxable or deemed profit tax systems contribute to the effective tax rate being significantly less than the United States statutory rate. 2) Other Drilling Costs in Addition to the Above Rig Costs - PER DAY FOR THREE MONTHS ENDED NOVEMBER 2006 $12,000 6 -----END PRIVACY-ENHANCED MESSAGE-----