EX-99 2 exhibit991.txt EXHIBIT 99.1 ATWOOD OCEANICS, INC. AND SUBSIDIARIES FLEET STATUS REPORT AS OF FEBRUARY 1, 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 DECEMBER 31, 2006/MONTH ENDED DECEMBER 31, 2006 ONLY ---------------------------------------------------------------------------------------------------------------------------- SEMISUBMERSIBLES: ---------------------------------------------------------------------------------------------------------------------------- ATWOOD 5000' Australia BHP BILLITON FIRM WORK - 5 wells at $86,000/91,000 Wells are EAGLE PETROLEUM PTY (7 wells $158,000 subject to a ("BHPB") remaining 1 well at change in including $168,000 sequence and current 1 well at a portion of operation) $150,000 the dayrate October 2007 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 is subject (if all three to some option wells are change due drilled) to currency exchange rate variance. ----------------------------------------------------------------------------------------------------------------------------- 1 ----------------------------------------------------------------------------------------------------------------------------- Australia ENI Spa AGIP FIRM WORK - $360,000 N/A We expect EXPLORATION & (1 well) the well to PRODUCTION January 2008 take 40 to DIVISION ("ENI") (assuming that 45 days to all of the above complete. 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 (assuming that to some all of the above change due option wells are to currency drilled) exchange rate variance. ---------------------------------------------------------------------------------------------------------------------------- Australia 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. ---------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------- ATWOOD HUNTER 5,000' Mauritania/ WOODSIDE FIRM WORK - $240,000 $65,000/81,000 The rig was Libya April/May 2008 (Mauritania) off dayrate $245,000 for fourteen (Libya) 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 $95,000/$96,000 (The $24 BERHAD ("SHELL") July 10, 2007 (Due to million expensing Shell certain costs reimbursement incurred in is being the shipyard, amortized as operating revenues costs were over the high for the remaining month and firm three months contract ended commitment December 31, following 2006. the upgrade (32 months) which will increase dayrate revenues by approximately $24,000.) --------------------------------------------------------------------------------------------------------------------------- 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 appears that ("TOREADOR") remaining TOREADOR including will drill current well) all of its March 2007 wells before (subject to the MELROSE TOREADOR program. If that drilling its occurs, the third well prior dayrate for the to commencing last well will be the MELROSE $135,000. work.) --------------------------------------------------------------------------------------------------------------------------- Bulgaria MELROSE FIRM WORK - $125,000 N/A RESOURCES (3 wells) ("MELROSE") June 2007 (subject to TOREADOR drilling its third well prior to commencing the MELROSE work.) -------------------------------------------------------------------------------------------------------------------------- Bulgaria MELROSE OPTIONS - $125,000 N/A (2 wells) July 2007 (if both option wells are drilled) -------------------------------------------------------------------------------------------------------------------------- 3 -------------------------------------------------------------------------------------------------------------------------- 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 options, the MELROSE option well wells drilled sequence for and TPAO TPAO option exercises wells and options to drill VANCO wells all three option could change. wells) -------------------------------------------------------------------------------------------------------------------------- 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) --------------------------------------------------------------------------------------------------------------------------- CANTILEVER JACK-UPS: ---------------------------------------------------------------------------------------------------------------------------- ATWOOD BEACON 400' India GUJARAT STATE FIRM WORK - $113,000 $44,000/$52,000 PETROLEUM January 2008 CORPORATION LTD ("GSPC") ----------------------------------------------------------------------------------------------------------------------------- 4 ---------------------------------------------------------------------------------------------------------------------------- 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 $41,000/$41,000 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/$91,000 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. ---------------------------------------------------------------------------------------------------------------------------- Equatorial HESS OPTIONS - $68,430 N/A Dayrate Guinea (2 years) subject to September 2010 increase due (if all four to contract six-month options cost are exercised) escalations. ---------------------------------------------------------------------------------------------------------------------------- 5 ---------------------------------------------------------------------------------------------------------------------------- SUBMERSIBLE: ---------------------------------------------------------------------------------------------------------------------------- RICHMOND 70' US Gulf of HELIS OIL & GAS FIRM WORK - $80,000 $33,000/34,000 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 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 13% to 18%. 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 DECEMBER 2006 $12,000