EX-99.1 2 h45076exv99w1.txt FLEET STATUS REPORT EXHIBIT 99.1 ATWOOD OCEANICS, INC. AND SUBSIDIARIES FLEET STATUS REPORT AS OF MARCH 27, 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.
------------------------------------------------------------------------------------------------------------------------------------ UNAUDITED ESTIMATED AVERAGE PER RATED ESTIMATED CONTRACT DAY OPERATING ADDITIONAL RIG NAME WATER LOCATION CUSTOMER CONTRACT END DAYRATE COSTS (NOT COMMENTS DEPTH DATE INCLUDING TAX) FOR THE THREE MONTHS ENDED JANUARY 31, 2007/MONTH ENDED JANUARY 31, 2005 ONLY ------------------------------------------------------------------------------------------------------------------------------------ SEMISUBMERSIBLES: ------------------------------------------------------------------------------------------------------------------------------------ ATWOOD 5000' Australia BHP BILLITON FIRM WORK -- 5 wells at $160,000 $89,000/93,000 Wells are EAGLE PETROLEUM PTY (7 wells 1 well at $170,000 subject to a ("BHPB") remaining 1 well at $150,000 change in including (expected to be sequence and a current drilled in July portion of the operation) and August 2007) dayrate is October 2007 subject to some change due to currency exchange rate variance. ------------------------------------------------------------------------------------------------------------------------------------
1 ------------------------------------------------------------------------------------------------------------------------------------ Australia BHPB OPTIONS -- $170,000 N/A A portion of (3 wells) the dayrate is January 2008 subject to some if all three change due to option wells currency are drilled exchange rate (The first variance. two option wells must be exercised no later than 68 days prior to the completion of the firm work) ------------------------------------------------------------------------------------------------------------------------------------ Australia ENI Spa AGIP FIRM WORK -- $360,000 N/A We expect the EXPLORATION & (1 well) well to take 40 PRODUCTION March 2008 to 45 days to DIVISION (assuming that complete. ("ENI") all of the above option wells are drilled) ------------------------------------------------------------------------------------------------------------------------------------ Australia WOODSIDE FIRM WORK -- $405,000 N/A A portion of the ENERGY LTD (2 years) dayrate is ("WOODSIDE") March 2010 subject to some (assuming change due to that all of currency that option exchange rate wells are variance. drilled) ------------------------------------------------------------------------------------------------------------------------------------ Australia N/A N/A N/A N/A The rig could be off dayrate for ten to fourteen days during the second quarter of fiscal year 2008 for required regulatory inspections and maintenance. ------------------------------------------------------------------------------------------------------------------------------------
2 ------------------------------------------------------------------------------------------------------------------------------------ ATWOOD 5,000' Mauritania/ WOODSIDE FIRM WORK -- $240,000 $63,000/55,000 The rig is HUNTER Libya April/May 2008 (Mauritania) currently being $245,000 (Libya) mobilized to Libya, which should take approximately three weeks with arrival in Libya around mid-April 2007. (The dayrate during the mobilization period is 95% of $245,000 or approximately $233,000) ------------------------------------------------------------------------------------------------------------------------------------ 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) ------------------------------------------------------------------------------------------------------------------------------------ ATWOOD 5,000' Malaysia SARAWAK FIRM WORK -- $113,000 $78,000/$49,000 (The $24 million FALCON SHELL BERHAD July 10, 2007 (Average costs Shell reimburse- ("SHELL") for three months ment is being ended January 31, amortized as 2007 is high due revenues over to rig upgrade. the remaining to rig costs for firm contract January is more commitment in lines with following the current ongoing upgrade (32 expectation) months) which will increase dayrate revenues by approximately $24,000.) ------------------------------------------------------------------------------------------------------------------------------------ Malaysia SHELL FIRM WORK -- $160,000/ N/A Most of the (2 years) $200,000 (dayrate work during July 2009 depends on water this period is depth of each expected to be well) at the $160,000 dayrate level. ------------------------------------------------------------------------------------------------------------------------------------ Malaysia SHELL OPTION -- TBD N/A (1 year) ------------------------------------------------------------------------------------------------------------------------------------
3 ------------------------------------------------------------------------------------------------------------------------------------ ATWOOD 2,000' Bulgaria MELROSE FIRM WORK -- $125,000 (two wells) $51,000/$48,000 SOUTHERN RESOURCES (3 wells) $155,000 (one well) CROSS ("MELROSE") June 2007 ------------------------------------------------------------------------------------------------------------------------------------ Bulgaria MELROSE OPTIONS -- $125,000 N/A (2 wells) August 2007 (if both option wells are drilled) Options must be exercised ten (10) days prior to completion of second firm well. ------------------------------------------------------------------------------------------------------------------------------------ Turkey TURKIYE FIRM WORK -- 3 wells at $290,000 N/A PETROLLERI (4 wells) 1 well at $320,000 A.O. ("TPAO") February 2008 (assuming above MELROSE option wells are drilled) ------------------------------------------------------------------------------------------------------------------------------------ Ukraine VANCO FIRM WORK -- $325,000 N/A See above INTERNATIONAL (1 well) LTD. April 2008 ("VANCO") (assuming MELROSE options are exercised) ------------------------------------------------------------------------------------------------------------------------------------ Ukraine VANCO OPTIONS -- $325,000 N/A See above (1 well) June 2008 (assuming MELROSE, and VANCO options are all exercised. ------------------------------------------------------------------------------------------------------------------------------------
4 CANTILEVER JACK-UPS: ------------------------------------------------------------------------------------------------------------------------------------ ATWOOD 400' India GUJARAT STATE FIRM WORK -- $113,000 $44,000/$36,000 BEACON PETROLEUM January 2008 CORPORATION LTD ("GSPC") ------------------------------------------------------------------------------------------------------------------------------------ India GSPC FIRM WORK -- $133,500 N/A (12 months) January 2009 ------------------------------------------------------------------------------------------------------------------------------------ India GSPC OPTIONS -- TBD N/A (1 year) ------------------------------------------------------------------------------------------------------------------------------------ VICKSBURG 300' Thailand CHEVRON FIRM WORK -- $94,500 $38,000/$34,000 OVERSEAS June 2007 PETROLEUM ("CHEVRON") ------------------------------------------------------------------------------------------------------------------------------------ Thailand CHEVRON FIRM WORK -- $154,000 N/A (2 years) June 2009 ------------------------------------------------------------------------------------------------------------------------------------ Thailand N/A N/A N/A N/A The rig could be off dayrate for ten to fourteen days during the last quarter of fiscal year 200 or first quarter of fiscal year 2008 for required regulatory inspections and maintenance. ------------------------------------------------------------------------------------------------------------------------------------
5 SEMISUBMERSIBLE TENDER ASSIST UNIT: ------------------------------------------------------------------------------------------------------------------------------------ SEAHAWK 1,800' Equatorial AMERADA HESS FIRM WORK -- $68,430 $76,000/$67,000 Contract provides Guinea EQUATORIAL September 2008 (plus approximately for dayrate (GUINEA, INC. $19,000 of amortized increases based "HESS") per day revenue.) upon certain cost escalations beginning with the second year of the contract. ------------------------------------------------------------------------------------------------------------------------------------ Equatorial HESS OPTIONS -- $68,430 N/A Dayrate subject Guinea (2 years) to increase due September 2010 to contract cost (if all four escalations. six-month options are exercised) ------------------------------------------------------------------------------------------------------------------------------------ SUBMERSIBLE: ------------------------------------------------------------------------------------------------------------------------------------ RICHMOND 70' US Gulf of HELIS FIRM WORK -- $80,000 $34,000/33,000 Mexico OIL & GAS October 2007 ("HELIS") ------------------------------------------------------------------------------------------------------------------------------------ US Gulf of N/A N/A N/A N/A The rig could Mexico be off dayrate for ten to fourteen days during the first or second quarters of fiscal year 2008 for required regulatory inspections and maintenance. ------------------------------------------------------------------------------------------------------------------------------------
6 MANAGEMENT CONTRACT ------------------------------------------------------------------------------------------------------------------------------------ NORTH N/A Australia WOODSIDE FIRM WORK -- Daily margin of The management RANKIN 'A' May 2007 around $5,000 contract could terminate in May 2007. ------------------------------------------------------------------------------------------------------------------------------------
NOTE -- EXPECTED TAX RATE 1) The effective tax rate for fiscal year 2007 is now expected to be 13% to 18%. 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 THE MONTH ENDED JANUARY 2007 $13,000 7