-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Fua7KX20VZJN6eSv8y0ahhLRnqPkExMtP+1roxIp5eZ7JGr0BAj3RXdDrWd4Owig JQcHfDfN3m9/ZoOKzdiagQ== 0000008411-00-000023.txt : 20001221 0000008411-00-000023.hdr.sgml : 20001221 ACCESSION NUMBER: 0000008411-00-000023 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20001220 ITEM INFORMATION: FILED AS OF DATE: 20001220 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ATWOOD OCEANICS INC CENTRAL INDEX KEY: 0000008411 STANDARD INDUSTRIAL CLASSIFICATION: DRILLING OIL & GAS WELLS [1381] IRS NUMBER: 741611874 STATE OF INCORPORATION: TX FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-13167 FILM NUMBER: 792374 BUSINESS ADDRESS: STREET 1: 15835 PARK TEN PL DR STREET 2: SUITE 200 CITY: HOUSTON STATE: TX ZIP: 77084 BUSINESS PHONE: 2817497845 MAIL ADDRESS: STREET 1: 15835 PARK TEN PL DR STREET 2: SUITE 200 CITY: HOUSTON STATE: TX ZIP: 77084 8-K 1 0001.txt ================================================================================ 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: December 20, 2000 ATWOOD OCEANICS, INC. (Exact name of registrant as specified in its charter) COMMISSION FILE NUMBER 1-13167 TEXAS 74-1611874 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 15835 Park Ten Place Drive 77084 Houston, Texas (Zip Code) (Address of principal executive offices) Registrant's telephone number, including area code: 281-749-7800 ================================================================================ ITEM 7. EXHIBITS EXHIBIT 99.1 CONTRACT STATUS SUMMARY AT DECEMBER 20, 2000 ITEM 9. REGULATION FD DISCLOSURE In November 2000, the Company engaged an independent appraiser to evaluate the expected useful lives of the ATWOOD HUNTER, ATWOOD FALCON and ATWOOD EAGLE. Based, in part, upon such appraisal, the Company, effective October 1, 2000, extended the depreciable lives of the ATWOOD HUNTER and ATWOOD FALCON from 12 to 22 years and will extend the depreciable life of the ATWOOD EAGLE from 12 to 22 years following the completion of its water- depth upgrade planned for the end of fiscal 2001. The Company believes that these changes in depreciable lives provide a better matching of the revenues and expenses of these assets over their anticipated useful lives. The estimated effect of these changes in depreciable lives on the Company's financial results for the first quarter of fiscal 2001 is a reduction in depreciation expense of approximately $1.5 million or an approximate $.07 increase (after tax) in earnings per diluted share. In December 2000, the ATWOOD SOUTHERN CROSS was awarded two one-well (plus options) drilling contracts in the territorial waters of Egypt and a two-well (plus one option) drilling contract in the territorial waters of Turkey. Upon the rig completing its current contract for Isramco in Israel (estimated early January 2001), it will move to Egypt to drill one well for GERMAN OIL & GAS EGYPT and one or two wells for REPSOL EXPLORACION EGIPTO, S.A., and then move to Turkey to drill two or three wells for EL PASO PRODUCTION COMPANY TURKEY B.V. Since the ATWOOD SOUTHERN CROSS was relocated from Australia to the Mediterranean Sea in June 2000, the rig has been awarded drilling contracts by six companies. The rig's current contractual commitments should keep it employed into August 2001, and depending upon the exercise of option wells, it could have commitments extending into fiscal 2002, with dayrates ranging from $45,000 to $61,000. Additional information with respect to the Company's contract status summary at December 20, 2000 is attached hereto as Exhibit 99.1, which is being furnished in accordance with Rule 101(e)(1) under Regulation FD and should not be deemed to be filed. 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; the Company's dependence on the oil and gas industry; the risks involved in upgrade to the Company's rigs; competition; operating risks; risks involved in foreign operations; and governmental regulations and environmental matters. A list of additional risk factors can be found in the Company' annual report on Form 10-K for the year ended September 30, 1999, filed with the Securities and Exchange Commission 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: DECEMBER 20, 2000 EXHIBIT INDEX EXHIBIT NO. DESCRIPTION 99.1 Contract Status Summary at December 20, 2000 EX-99.1 2 0002.txt EXHIBIT 99.1 ATWOOD OCEANICS, INC. AND SUBSIDIARIES CONTRACT STATUS SUMMARY AT DECEMBER 20, 2000 NAME OF RIG LOCATION CONTRACT STATUS - ------------------ ------------ ----------------------------------------- SEMISUBMERSIBLES - - ------------------ ATWOOD FALCON Philippines The rig's current contract es terminates in November 2001. The rig is currently being moved from Malaysia to the Philippines to recommence drilling for Shell Philippines. ATWOOD HUNTER United Following completion of its States current contractual Gulf of commitments and possible short- Mexico term follow-up work (estimated January to March 2001), an additional upgrade is planned for the rig costing between $40 to $45 million, and taking four to five months to complete. ATWOOD EAGLE Mediterranean The rig is contractually Sea committed into the second half of fiscal 2001. An approximate $80 million upgrade of the rig is planned immediately upon the rig completing its current contractual commitments (estimated June to August 2001), and taking five to six months to complete. SEAHAWK Malaysia The rig's current contract terminates in November 2003, with an option for the Operator to extend. ATWOOD Mediterranean The rig is contractually SOUTHERN CROSS Sea committed in Israel, Egypt and Turkey into August 2001, and depending upon options exercised, could have work extending into fiscal 2002. SEASCOUT United The SEASCOUT (ex-OCEAN SCOUT) States was purchased in December 2000 Gulf of for future conversion to a Mexico tender-assist unit similar to the SEAHAWK. The rig will not be converted until an acceptable contract opportunity is secured. CANTILEVER JACKUP - - ------------------- VICKSBURG India The rig's current contract expires at the completion of the well in progress at the end of December 2000 (estimated for early February 2001). The rig is being marketed in India, Southeast Asia and West Africa at an increased dayrate. SUBMERSIBLE - - ------------- RICHMOND United The rig is contractually States committed in the United States Gulf of Gulf of Mexico into the second Mexico quarter of fiscal 2001. MODULAR PLATFORMS - - ------------------- RIG-19 Australia The rig is available for contract since it became idle in September 1999. RIG-200 Australia The rig is available for contract since it became idle in June 1999.
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