EX-99 2 exh991.txt M EXHIBIT 99.1 ATWOOD OCEANICS, INC. AND SUBSIDIARIES FLEET STATUS REPORT AS OF JULY 2, 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 AVERAGE PER DAY RIG RATED ESTIMATED ESTIMATED OPERATING COSTS ADDITIONAL NAME WATER LOCATION CUSTOMER CONTRACT CONTRACT (NOT INCLUDING COMMENTS DEPTH END DATE DAYRATE TAX) FOR THE THREE MONTHS ENDED MAY 31, 2007/MONTH ENDED MAY 31, 2007 ONLY ----------------------------------------------------------------------------------------------------------------------------------- SEMISUBMERSIBLES: ----------------------------------------------------------------------------------------------------------------------------------- ATWOOD 5000' Australia BHP BILLITON FIRM WORK - 1 well at $102,000/$109,000 Wells are EAGLE PETROLEUM PTY (5 wells approximately subject to a ("BHPB") remaining $150,000 change in including (currently being sequence and a current drilled) portion of the operation) 3 wells at dayrate is November 2007 approximately subject to $160,000 some change 1 well at due to approximately currency $170,000 exchange rate variance. ----------------------------------------------------------------------------------------------------------------------------------- -1- ----------------------------------------------------------------------------------------------------------------------------------- Australia BHPB OPTIONS - Approximately N/A A portion of the (2 wells) $170,000 dayrate is subject January 2008 if to some change due the two remaining to currency option wells are exchange rate drilled. variance. ---------------------------------------------------------------------------------------------------------------------------------- Australia ENI Spa AGIP FIRM WORK - $360,000 N/A We expect the well EXPLORATION & (1 well) to take 40 to 45 PRODUCTION February/March 2008 days to complete. DIVISION ("ENI") (assuming that the two above option wells are drilled) ----------------------------------------------------------------------------------------------------------------------------------- Australia WOODSIDE FIRM WORK - $405,000 N/A A portion of the ENERGY LTD (2 years) dayrate is subject ("WOODSIDE") March 2010 to some change due (assuming that the to currency two above option exchange rate wells are drilled) variance. ----------------------------------------------------------------------------------------------------------------------------------- Australia N/A N/A N/A N/A The rig is expected to incur ten to fourteen zero rate days during the first or second quarter of fiscal year 2008 for required regulatory inspections and planned maintenance. ----------------------------------------------------------------------------------------------------------------------------------- -2- ----------------------------------------------------------------------------------------------------------------------------------- ATWOOD 5,000' Mauritania/ WOODSIDE FIRM WORK - $240,000 $71,000/$71,000 The rig is HUNTER Libya April/May 2008 (Mauritania) currently working $245,000 (Libya) offshore Libya. ----------------------------------------------------------------------------------------------------------------------------------- TBD WOODSIDE OPTIONS - TBD N/A Two (2) six-month options. April/May 2009, if exercised at negotiated market rate. (Agreement has to be executed by November 2007) ----------------------------------------------------------------------------------------------------------------------------------- TBD N/A N/A N/A N/A The rig could incur around five to ten zero rate days during the fourth quarter of fiscal year 2007 for upgrades and planned maintenance. ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ATWOOD 5,000' Malaysia SARAWAK SHELL FIRM WORK - $113,000 $52,000/$52,000 (The $24 million FALCON BERHAD ("SHELL") July 10, 2007 Shell reimbursement is being amortized as revenues over the remaining firm contract commitment following the upgrade (32 months) which will increase dayrate revenues by approximately $24,000.) ----------------------------------------------------------------------------------------------------------------------------------- Malaysia SHELL FIRM WORK - $160,000/ N/A Most of the work (2 years) $200,000 during this July 2009 (dayrate period is depends on expected to be at water depth of the $160,000 each well) dayrate level. ----------------------------------------------------------------------------------------------------------------------------------- Malaysia SHELL OPTION - TBD N/A (1 year) ----------------------------------------------------------------------------------------------------------------------------------- -3- ----------------------------------------------------------------------------------------------------------------------------------- ATWOOD 2,000' Turkey TURKIYE FIRM WORK 3 wells at $51,000/$55,000 There is a SOUTHERN PETROLLERI A.O. (4 wells) $290,000 possibility that CROSS ("TPAO") Early December 1 well at one well could 2007 $320,000 be deferred until after the Melrose drilling program. ----------------------------------------------------------------------------------------------------------------------------------- Bulgaria MELROSE FIRM WORK - $145,000 N/A (2 wells) Early February 2008 ----------------------------------------------------------------------------------------------------------------------------------- Bulgaria MELROSE FIRM WORK - $380,000 N/A (1 well) March 2008 ----------------------------------------------------------------------------------------------------------------------------------- TBD N/A N/A N/A N/A The rig could incur five to ten zero rate days during the fourth quarter of fiscal year 2007 or possibly first quarter of fiscal year 2008 for regulatory inspections. ----------------------------------------------------------------------------------------------------------------------------------- CANTILEVER JACK-UPS: ----------------------------------------------------------------------------------------------------------------------------------- ATWOOD 400' India GUJARAT STATE FIRM WORK - $113,000 $38,000/$38,000 BEACON 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) ----------------------------------------------------------------------------------------------------------------------------------- -4- ----------------------------------------------------------------------------------------------------------------------------------- VICKSBURG 300' Thailand CHEVRON OVERSEAS FIRM WORK - $154,000 $35,000/$38,000 PETROLEUM (2 years) ("CHEVRON") June 2009 ----------------------------------------------------------------------------------------------------------------------------------- Thailand N/A N/A N/A N/A The rig is expected to incur ten to fourteen zero rate days during the last quarter of fiscal year 2007 for required regulatory inspections. ----------------------------------------------------------------------------------------------------------------------------------- SEMISUBMERSIBLE TENDER ASSIST UNIT: ----------------------------------------------------------------------------------------------------------------------------------- SEAHAWK 1,800' Equatorial AMERADA HESS FIRM WORK - $71,900 $79,000/$72,000 Contract Guinea EQUATORIAL September 2008 (plus provides for GUINEA, INC. approximately dayrate ("HESS") $19,000 of increases based amortized per upon certain day revenue.) cost escalations as well as an approximately $15,000 per day reduction during periods when the rig is being relocated to a new drilling site. ----------------------------------------------------------------------------------------------------------------------------------- Equatorial HESS OPTIONS - $71,900 N/A Dayrate subject Guinea (2 years) to increase due September to contract cost 2010 escalations. (if all four six-month options are exercised) ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- SUBMERSIBLE: ----------------------------------------------------------------------------------------------------------------------------------- RICHMOND 70' US Gulf of HELIS OIL & GAS FIRM WORK - $80,000 $38,000/$36,000 Mexico ("HELIS") October 2007 ----------------------------------------------------------------------------------------------------------------------------------- US Gulf of N/A N/A N/A N/A The rig could Mexico incur fourteen to twenty-one zero rate days during the fourth quarter of fiscal year 2007 or the first or second quarter of fiscal year 2008 for required regulatory inspections and planned maintenance. -----------------------------------------------------------------------------------------------------------------------------------
NOTE - EXPECTED TAX RATE 1) The effective tax rate for fiscal year 2007 is now expected to be around 15%. 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 MAY 2007 $ 16,000