EX-99 3 exh992.txt M ATWOOD OCEANICS, INC. AND SUBSIDIARIES FLEET STATUS REPORT AS OF SEPTEMBER 11, 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 ESTIMATED ESTIMATED PER DAY OPERATING RATED CONTRACT CONTRACT COSTS (NOT ADDITIONAL RIG NAME WATER LOCATION CUSTOMER END DATE DAYRATE INCLUDING TAX) FOR COMMENTS DEPTH THE THREE MONTHS ENDED JULY 31, 2007/MONTH ENDED JULY 31, 2007 ONLY ----------------------------------------------------------------------------------------------------------------------------------- SEMISUBMERSIBLES: ----------------------------------------------------------------------------------------------------------------------------------- ATWOOD 5000' Australia BHP BILLITON FIRM WORK - 3 wells at $107,000/$105,000 Wells are EAGLE PETROLEUM PTY (4 wells) approximately subject to a ("BHPB") December 2007 $160,000 change in 1 well at sequence and a approximately portion of the $170,000 dayrate is subject to some change due to currency exchange rate variance. ----------------------------------------------------------------------------------------------------------------------------------- Australia BHPB OPTIONS - Approximately N/A A portion of the (2 wells) $170,000 dayrate is February 2008 subject to some if the two change due to remaining options currency wells are drilled. exchange rate variance. ----------------------------------------------------------------------------------------------------------------------------------- 1 ----------------------------------------------------------------------------------------------------------------------------------- Australia ENI Spa AGIP FIRM WORK - $360,000 N/A We expect the EXPLORATION & (1 well) well to take 40 PRODUCTION April 2008 (assuming to 45 days to DIVISION that the two above complete. ("ENI") option wells are drilled) ----------------------------------------------------------------------------------------------------------------------------------- Australia WOODSIDE FIRM WORK - $405,000 N/A A portion of the ENERGY LTD (2 years) dayrate is ("WOODSIDE") April 2010 (assuming subject to some that the two above change due to option wells are currency drilled) exchange rate 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 quarter of fiscal year 2008 for required regulatory inspections and planned maintenance. ----------------------------------------------------------------------------------------------------------------------------------- ATWOOD 5,000' Egypt BURULLUS FIRM WORK - Commencing $76,000/$58,000 In August, the HUNTER GAS CO. January 2008 August 22, 2007 rig incurred one ("BURULLUS") $320,000 first zero rate day 90 days due to equipment $355,000 next issues. 35 days $410,000 thereafter (expected to be 15 days) ----------------------------------------------------------------------------------------------------------------------------------- Mauritania WOODSIDE FIRM WORK $240,000 (Reinstatement August 2008 of suspended contract) ----------------------------------------------------------------------------------------------------------------------------------- TBD WOODSIDE OPTIONS - TBD N/A The rig could Two (2) six-month incur ten (10) options. zero rate days August 2009, if in the fourth exercised at quarter of negotiated market fiscal year 2009 rate. (Agreement has for regulatory to be executed by inspections. December 2007) ----------------------------------------------------------------------------------------------------------------------------------- 2 ----------------------------------------------------------------------------------------------------------------------------------- TBD N/A N/A N/A N/A The rig could incur three to five zero rate days during the fourth quarter of fiscal year 2007 for some planned maintenance. The rig could also incur fifteen to twenty zero rate days depending upon the rigs drilling schedule sometime between December 2007 and August 2008 for certain equipment upgrades. ----------------------------------------------------------------------------------------------------------------------------------- ATWOOD 5,000' Malaysia SARAWAK SHELL FIRM WORK - $160,000/ $59,000/$64,000 (The $24 FALCON BERHAD (2 years) $200,000 million Shell ("SHELL") July 2009 (dayrate reimbursement is depends on being amortized water depth of as revenues over each well) the remaining firm contract commitment following the upgrade (32 months) which will increase dayrate revenues by approximately $24,000.) Most of the work during this period is expected to be at the $160,000 dayrate level. (The rig could incur 5 to 10 zero rate days during the first quarter of fiscal year 2009 due to required regulatory inspections.) ----------------------------------------------------------------------------------------------------------------------------------- Malaysia SHELL OPTION - TBD N/A (1 year) ----------------------------------------------------------------------------------------------------------------------------------- ATWOOD 2,000' Turkey TURKIYE FIRM WORK - 3 wells at $58,000/$54,000 SOUTHERN PETROLLERI (3 wells) $290,000 CROSS A.O.("TPAO") October/November 2007 ----------------------------------------------------------------------------------------------------------------------------------- Bulgaria MELROSE FIRM WORK - $145,000 N/A (2 wells) December 2007 /January 2008 ----------------------------------------------------------------------------------------------------------------------------------- 3 ----------------------------------------------------------------------------------------------------------------------------------- Bulgaria MELROSE FIRM WORK - $380,000 N/A (1 well) January/February 2008 ----------------------------------------------------------------------------------------------------------------------------------- Turkey TPAO FIRM WORK - $320,000 N/A (1 well) February/March 2008 ----------------------------------------------------------------------------------------------------------------------------------- TBD N/A N/A N/A N/A The rig incurred eight zero rate days in August 2007 for regulatory inspections and could incur another two to five zero rate days during the second quarter of fiscal year 2008 for some maintenance work. ----------------------------------------------------------------------------------------------------------------------------------- CANTILEVER JACK-UPS: ----------------------------------------------------------------------------------------------------------------------------------- ATWOOD 400' India GUJARAT STATE FIRM WORK - $113,000 $43,000/$43,000 BEACON PETROLEUM January 2008 CORPORATION LTD ("GSPC") ----------------------------------------------------------------------------------------------------------------------------------- India GSPC FIRM WORK - $133,500 N/A (12 months) January 2009 ----------------------------------------------------------------------------------------------------------------------------------- India GSPC OPTIONS - (1 year) TBD N/A ----------------------------------------------------------------------------------------------------------------------------------- VICKSBURG 300' Thailand CHEVRON FIRM WORK - $154,000 $42,000/$43,000 OVERSEAS (2 years) PETROLEUM June 2009 ("CHEVRON") ----------------------------------------------------------------------------------------------------------------------------------- Thailand N/A N/A N/A N/A The rig incurred two zero rate days in July 2007 for required regulatory inspections and one zero rate day in August relating to equipment issues. ----------------------------------------------------------------------------------------------------------------------------------- 4 SEMISUBMERSIBLE TENDER ASSIST UNIT: ----------------------------------------------------------------------------------------------------------------------------------- SEAHAWK 1,800' Equatorial AMERADA HESS FIRM WORK - $71,900 $79,000/$74,000 Contract Guinea EQUATORIAL September (plus provides for GUINEA, INC. 2008 approximately dayrate ("HESS") $19,000 of increases amortized per based upon day revenue.) certain 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. Thus far, in the fourth quarter of fiscal year 2007, the rig has incurred six zero rate days due to equipment related issues. ----------------------------------------------------------------------------------------------------------------------------------- Equatorial HESS OPTIONS - $71,900 N/A Dayrate Guinea (2 years) subject to September increase due 2010 to contract (if all cost four escalations. six-month options are exercised) ----------------------------------------------------------------------------------------------------------------------------------- 5 ------------------------------------------------------------------------------------------------------------------------------------ SUBMERSIBLE: ----------------------------------------------------------------------------------------------------------------------------------- RICHMOND 70' US Gulf of HELIS OIL & FIRM WORK - $80,000 $35,000/$32,000 Mexico GAS ("HELIS") October 2007 ----------------------------------------------------------------------------------------------------------------------------------- US Gulf of N/A N/A N/A N/A The rig is Mexico expected to incur forty (40) to sixty (60) zero rate days during the first quarter of fiscal year 2008 for a life enhancing upgrade. This upgrade is expected to cost $13 million to $15 million and will extend the life of the rig seven years from January 2008. -----------------------------------------------------------------------------------------------------------------------------------
NOTE - EXPECTED TAX RATE 1) The effective tax rate for fiscal year 2007 is now expected to be around 14%. 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 JULY 2007 $ 16,000 6