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:  SEPTEMBER 8, 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 VICKSBURG has completed its approximate $8 million life-enhancing upgrade and has commenced its contract with NuCoastal (Thailand) Limited (“NuCoastal”) which provides for one hundred twenty (120) days of firm work at a dayrate of $95,000.  This contract also provides NuCoastal with an option to extend the program another ninety (90) days, which, if exercised, will result in the operating dayrate for the entire drilling program being adjusted to $90,000.  As a result of the rig’s life-enhancing upgrade, the depreciable life of the rig will be extended to ten (10) years commencing in October 2009.  

The ATWOOD BEACON completed its drilling program offshore India at the end of July 2009 and is currently being moved to Singapore.  Contract opportunities are currently being pursued for the rig.

The ATWOOD HUNTER has completed its mobilization from Israel to offshore Ghana and has commenced its drilling program for Kosmos Energy Ghana HC at an operating dayrate of $538,000.

The SEAHAWK completed its relocation to a new drilling site on September 2, 2009, at which time its dayrate returned to its operating rate of around $90,000.  During the approximate thirty (30) days it took to relocate to its new drilling site, the rig’s dayrate had been reduced to around $70,000.

The ATWOOD SOUTHERN CROSS and RICHMOND remain “ready stacked” offshore West Africa and the U.S. Gulf of Mexico, respectively.  We are currently pursuing contract opportunities for the RICHMOND which, if successful, it could return the rig back to work sometime before the end of the calendar year 2009; however, dayrates are expected to be in the $30,000’s.  At this time, there are no immediate contract opportunities for the ATWOOD SOUTHERN CROSS, with the rig expected to remain idle through the remainder of calendar year 2009, with no guarantee that it will return to work in 2010.

Information with respect to the Company’s Fleet Status Report at September 8, 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 September 8, 2009

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EXHIBIT INDEX

EXHIBIT NO.                                        DESCRIPTION

99.1                                Fleet Status Report at September 8, 2009

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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: September 8, 2009

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EX-99.1

EXHIBIT 99.1

ATWOOD OCEANICS, INC. AND SUBSIDIARIES FLEET STATUS REPORT

AS OF SEPTEMBER 8, 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 JULY 31, 2009/MONTH ENDED JULY 31, 2009 ONLY	ADDITIONAL COMMENTS
SEMISUBMERSIBLES:
ATWOOD EAGLE		5000’	Australia	WOODSIDE ENERGY LTD (“WOODSIDE”)	FIRM WORK – (2 years) June 2010		Approximately $405,000	$144,000/$139,000	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’	Ghana	KOSMOS ENERGY GHANA HC (“KOSMOS”)	FIRM WORK - June 2010 (Estimated to take 270 days)		$538,000	$114,000/$144,000 (The rigs operating costs were high in July due to its required inspection.  Operating costs are expected to decline in August and September.)	Subject to change due to cost escalation provisions in the contract.
			Other West Africa Designated Areas	NOBLE ENERGY INC (“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.
ATWOOD FALCON		5,000’	Malaysia	SARAWAK SHELL BERHAD (“SHELL”)	FIRM WORK – August 2011		$425,000/plus approximately $4,000 of amortized per day revenues	$64,000/$56,000	Subject to change due to cost escalation provisions in the contract.
ATWOOD SOUTHERN CROSS	2,000’		West Africa	NONE	FIRM WORK – NONE		NONE	$62,000/$55,000	Contract opportunities are currently being pursued while rig is “ready stacked” in West Africa.
	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’		In process of being moved to Singapore	NONE	FIRM WORK – NONE		NONE	$56,000/$66,000		Contract opportunities are currently being pursued while rig is currently “ready stacked” in India.
VICKSBURG	300’		Thailand	NUCOASTAL (THALAND) LIMITED (“NUCOASTAL”)	FIRM WORK – November 2009		$95,000 (If drilling program only extend for three months)	$41,000/$22,000 (Operating costs were low in July due to the rig being in a shipyard undergoing an upgrade.)
				NUCOASTAL	OPTION WORK – February 2010 (NuCoastal has an option which must be exercised no later than 30 days after commencement of the contract to extend the program to six months.)		$90,000 for entire period if program extends for six months
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.	$56,000/$56,000		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 – September 2010	$87,000 (Dayrate for the fourth quarter of fiscal year 2009 will be reduced for approximately 30 days by $20,000 per day while the rig is being relocated to a new drilling site.	$73,000/$67,000		Contract provides for dayrate increases based upon certain cost escalations as well as an approximately $20,000 per day reduction during periods when the rig is being relocated to a new drilling site.
SUBMERSIBLE:
RICHMOND	70’		US Gulf of Mexico	NONE		FIRM WORK – NONE	NONE	$39,000/$44,000		Contract opportunities are currently being pursued while rig is “ready stacked” in Gulf of Mexico.
			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.

NOTES –

1)                      EXPECTED TAX RATE –

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 approximately 15%.

2)      OTHER DRILLING COSTS IN ADDITION TO THE ABOVE RIG COSTS -

Estimated Average Per Day for the Three Months ended July 2009                                                                                                                
60;    $12,000