8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

____________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15 (d)

OF THE SECURITIES EXCHANGE ACT OF 1934

DATE OF EARLIEST EVENT REPORTED:  June 5, 2009

ATWOOD OCEANICS, INC.

(Exact name of registrant as specified in its charter)

COMMISSION FILE NUMBER 1-13167

TEXAS

(State or other jurisdiction of incorporation or organization)

Internal Revenue Service – Employer Identification No. 74-1611874

15835 Park Ten Place Drive, Houston, Texas, 77084

(281) 749-7800

____________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01 REGULATION FD DISCLOSURE

The ATWOOD HUNTER is currently drilling the final well offshore Israel under its current drilling program for Nobel Energy Inc. which is expected to be completed in July 2009.  Upon completion of the drilling of this well, the rig will undergo required regulatory inspections at zero dayrate estimated to take ten (10) days to complete prior to being relocated to Ghana to commence working for Kosmos Energy Ghana HC.  These estimated ten (10) days of zero rate will reduce the rig’s revenue in the fourth quarter of fiscal year 2009 by approximately $5 million and reduce earnings per share for the quarter by approximate. $0.07.

The ATWOOD SOUTHERN CROSS continues to be “ready stacked” while contract opportunities are currently being pursued.  During this idle period, certain maintenance continues to be performed on the rig which is expected to keep operating costs for the rig around $70,000 per day through June 2009.  Commencing with the fourth quarter of fiscal year 2009, we expect to reduce operating costs on the rig to less than $50,000 until a contract commitment is secured.

The VICKSBURG is in the process of completing its last well (estimated completion around June 15, 2009) under its contract with Chevron Overseas Petroleum.  Upon completion of this well, the rig will be moved to a shipyard in Thailand to undergo an estimated $8 million life-enhancing upgrade.  We expect virtually all of this cost will be capitalized and expect it will take around eight (8) weeks to complete.  If no contract opportunity is secured by the time this upgrade is completed, the rig will be “ready stacked” in Thailand with its operating costs expected to be reduced to around $30,000 per day until a contract opportunity is secured.

The ATWOOD BEACON is currently drilling the last well under its current contract offshore India which is expected to be completed around mid-July 2009.  If no additional contract is secured by the time the rig completes its current drilling commitment, the rig will be “ready stacked” in India.

The RICHMOND is in the process of completing its current drilling commitment and could incur some zero rate days while additional contract opportunities are being pursued.  The RICHMOND on numerous occasions has proven its durability during hurricane season and is not expected to incur a long period of idle time; however, its dayrate for future short-term work is expected to decline from its recent dayrate of $52,500.

Information with respect to the Company’s Fleet Status Report at June 5, 2009 is attached hereto as Exhibit 99.1.  Such information is being furnished under Regulation FD and should not be deemed to be filed under Section 19 of the Exchange Act.

Statements contained in this report with respect to the future 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; the Company’s dependence on the oil and gas industry; the risks involved in the construction of a rig and commencement of operations of the rig following delivery; competition; operating risks; risks involved in foreign operations; risks associated with possible disruption in operations due to terrorism, acts of piracy, embargoes, war or other military operations; and governmental regulations and environmental matters.  A list of additional risk factors can be found in the Company’s annual report on Form 10-K for the year ended September 30, 2008, filed with the Securities and Exchange Commission.

ITEM 9.01                                EXHIBITS

EXHIBIT 99.1    Fleet Status Report at June 5, 2009

EXHIBIT INDEX

EXHIBIT NO.                                                   DESCRIPTION

99.1                                Fleet Status Report at June 5, 2009

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ATWOOD OCEANICS, INC

(Registrant)

/s/ James M. Holland

James M. Holland

Senior Vice President

DATE: June 5, 2009

EX-99.1

EXHIBIT 99.1

ATWOOD OCEANICS, INC. AND SUBSIDIARIES FLEET STATUS REPORT

AS OF JUNE 5, 2009

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 Iraqand 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, 2008, 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.

RIG NAME		RATED WATER DEPTH	LOCATION	CUSTOMER	ESTIMATED  CONTRACT END DATE		ESTIMATED CONTRACT DAYRATE	UNAUDITED AVERAGE PER DAY OPERATING COSTS (NOT INCLUDING TAX) FOR THE THREE MONTHS ENDED APRIL 30, 2009/MONTH ENDED APRIL 30, 2009 ONLY	ADDITIONAL COMMENTS
SEMISUBMERSIBLES:
ATWOOD EAGLE		5000’	Australia	WOODSIDE ENERGY LTD (“WOODSIDE”)	FIRM WORK – (2 years) June 2010		Approximately $405,000	$134,000/$127,000	A portion of the dayrate is subject to some change due to currency exchange rate variance.
			Australia	BHP BILLITON PETROLEUM	FIRM WORK – (One well deferred from previous drilling program which is expected to be drilled during the first quarter of fiscal year 2010.)		Approximately $170,000 for 35 days and $465,000 thereafter until completion.	N/A
			Australia	CHEVRON AUSTRALIA PTY. LTD. (“CHEVRON”)	FIRM WORK – (Until new semisubmersible arrives in Australia) February/March 2011		$430,000/$450,000	N/A	Subject to change due to cost escalation provisions in the contract.
			Australia	CHEVRON	OPTION WORK – Has option to continue to use rig for a mutually agreed term after the new semisubmersible arrives in Australia.		$405,000/$425,000	N/A	Subject to change due to cost escalation provisions in the contract.
			TBD	N/A	N/A		N/A	N/A	The rig could incur ten (10) zero rate days in the first quarter of 2011 for regulatory inspections.
ATWOOD HUNTER		5,000’	Eastern Mediterranean Sea	NOBLE ENERGY, INC. (“NOBLE”)	FIRM WORK - July 2009		$511,000 plus approximately $15,800 of amortizing revenues per day	$98,000/$108,000	Subject to change due to cost escalation provisions in the contract.
			Mobilizing to Ghana	KOSMOS ENERGY GHANA HC (“KOSMOS”)	FIRM WORK - September 2009 (Estimated to take 55 days)		$460,000	N/A	Subject to change due to cost escalation provisions in the contract.
			Ghana	KOSMOS	FIRM WORK - June 2010 (Estimated to take 270 days)		$538,000	N/A	Subject to change due to cost escalation provisions in the contract.
			Other West Africa Designated Areas	NOBLE/KOSMOS	FIRM WORK - October/November 2012		$538,000 to $545,000 while operating and $460,000 during all mobilization periods	N/A	Subject to change due to cost escalation provisions in the contract.
			TBD	N/A	N/A		N/A	N/A	The rig could incur ten (10) zero rate days in the fourth quarter of fiscal year 2009 for regulatory inspections.
ATWOOD FALCON		5,000’	Malaysia	SARAWAK SHELL BERHAD (“SHELL”)	FIRM WORK – August 2009		$160,000/ plus approximately $28,000 of amortized per day revenue	$75,000/$79,000
			Malaysia	SHELL	FIRM WORK – August 2011 (Two years from completion of current firm work which is expected to be August 2009)		$425,000/plus approximately $4,000 of amortized per day revenues		Subject to change due to cost escalation provisions in the contract.
ATWOOD SOUTHERN CROSS	2,000’			NONE	FIRM WORK – NONE		NONE	$60,000/$46,000	Contract opportunities are currently being pursued.
	TBD		N/A	N/A	N/A		N/A	N/A	The rig could incur ten (10) zero rate days in the fourth quarter of fiscal year 2010 for regulatory inspections.
ATWOOD OSPREY	6,000’		Under construction in Singapore with Delivery Expected in early 2011 at which time the rig will be mobilized to Australia.	CHEVRON AUSTRALIA PTY. LTD.	FIRM WORK – Early 2014 if three-year commitment or early 2017 if six-year commitments.  (Contract provides for a commitment of three years with option to extend to six years at time of delivery of rig)		$470,000 (if three-year commitment) $450,000 (if six-year commitment)	N/A	Subject to change due to cost escalation provisions in the contract.
CANTILEVER JACK-UPS:
ATWOOD BEACON	400’		India	GUJARAT STATE PETROLEUM CORPORATION LTD (“GSPC”)	FIRM WORK – Completion of current well in progress.  Currently, the rig has no contractual commitments following completion of its current well (Estimated July 2009).		$133,500	$54,000/$41,000		If no contract is secured by the time the rig completes its current contract, the rig will be “ready stacked” in India.
VICKSBURG	300’		Thailand	CHEVRON OVERSEAS PETROLEUM	FIRM WORK –		$154,000	$48,000/$46,000
			TBD	N/A	N/A Completion of current well in progress (Estimated mid-June 2009). Currently, the rig has no contractual commitments following completion of its current well.		N/A	N/A		Upon completion of its current well (estimated mid-June 2009), the rig will be moved to s shipyard in Thailand to undergo a life enhancing upgrade estimated to cost around $8 million and to take up to eight weeks to complete.  If no contract opportunity is secured by the time this upgrade is complete, the rig will be “ready stacked” in Thailand.
ATWOOD AURORA	350’			RWE DEA NILE GmbH (“RWE”)	FIRM WORK – April 2011		$133,000 less approximately $1,500 per day amortized reduction due to certain mobilization costs.	N/A/$60,000		Subject to change due to cost escalation provisions in the contract.
			Egypt	RWE	OPTIONS – (1 Year)		TBD	N/A
SEMISUBMERSIBLE TENDER ASSIST UNIT:
SEAHAWK	1,800’		Equatorial Guinea	AMERADA HESS  EQUATORIAL GUINEA, INC. (“HESS”)		FIRM WORK – March 2010	$85,000	$64,000/$64,000		Contract provides for dayrate increases based upon 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.
			Equatorial Guinea	HESS		OPTIONS – (1 six-month option) September 2010	$85,000	N/A		Dayrate subject to increase due to contract cost escalations.
SUBMERSIBLE:
RICHMOND	70’		US Gulf of Mexico	NONE		FIRM WORK – NONE	NONE	$33,000/$38,000		Contract opportunities are currently being pursued.
			US Gulf of Mexico	N/A		N/A	N/A	N/A		The rig could incur ten (10) zero rate days in the third quarter of fiscal year 2010 for regulatory inspections.

NOTE – EXPECTED TAX RATE

1)                          Virtually all of the Company’s tax provision 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.  We currently expect our effective tax rate for fiscal year 2009 to be between 17% and 19%.

2)   Other Drilling Costs in Addition to the Above Rig Costs –

ESTIMATED AVERAGE PER DAY FOR THE MONTH OF APRIL 2009                                                                                                                                                     $22< /font>,000