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