EX-99 5 exh994.htm

EXHIBIT 99.4

             

ATWOOD OCEANICS, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

             
       

June 30,

 

September 30,

       

2008

 

2007

             

ASSETS

           
             

CURRENT ASSETS:

           

Cash and cash equivalents

     

$ 201,424

 

$ 100,361

Accounts receivable, net of an allowance

           

of $240 at June 30, 2008

           

and $164 at September 30, 2007

     

111,525

 

76,597

Income tax receivable

     

2,356

 

1,870

Inventories of materials and supplies, net

     

34,126

 

26,721

Deferred tax assets

     

-

 

390

Prepaid expenses and deferred costs

     

2,859

 

10,240

Total Current Assets

     

352,290

 

216,179

             

NET PROPERTY AND EQUIPMENT

     

671,138

 

493,851

             

DEFERRED COSTS AND OTHER ASSETS

     

4,618

 

7,694

       

$ 1,028,046

 

$ 717,724

             

LIABILITIES AND SHAREHOLDERS' EQUITY

           
             

CURRENT LIABILITIES:

           

Current maturities of notes payable

     

$                   -

 

$         18,000

Accounts payable

     

17,222

 

11,769

Accrued liabilities

     

44,453

 

27,861

Deferred income taxes

     

482

 

-

Total Current Liabilities

     

62,157

 

57,630

             

LONG-TERM DEBT,

           

net of current maturities:

     

170,000

 

-

       

170,000

 

-

LONG TERM LIABILITIES:

           

Deferred income taxes

     

11,584

 

14,729

Deferred credits

     

11,378

 

24,093

Other

     

6,294

 

5,417

       

29,256

 

44,239

             

COMMITMENTS AND CONTINGENCIES

           
             

SHAREHOLDERS' EQUITY:

           

Preferred stock, no par value;

           

1,000 shares authorized, none outstanding

     

-

 

-

Common stock, $1 par value, 90,000 shares

           

authorized with 64,026 and 63,350 issued

           

and outstanding at June 30, 2008

           

and September 30, 2007, respectively

     

64,026

 

63,350

Paid-in capital

     

112,505

 

101,549

Retained earnings

     

590,102

 

450,956

Total Shareholders' Equity

     

766,633

 

615,855

       

$ 1,028,046

 

$ 717,724