-----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, U5Ev8dj3icw7GmglmmWBIQPqBWGP1xZqyaLkPvXIKErQNRDpKkAF6627nWM2XRgR ZD4eFYfk6HtOFvDXJjoEfw== 0000008411-08-000141.txt : 20080828 0000008411-08-000141.hdr.sgml : 20080828 20080828124100 ACCESSION NUMBER: 0000008411-08-000141 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080828 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080828 DATE AS OF CHANGE: 20080828 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: 1934 Act SEC FILE NUMBER: 001-13167 FILM NUMBER: 081044561 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 f8kaug282008.htm

_____________________________________________________________________

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: August 28, 2008

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

     Information with respect to the Company’s Fleet Status Report at August 28, 2008 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 the construction of a rig; competition; operating risks; risks involved in foreign operations; risks associated with possible disruption in operations due to terrorism; risks associated with a possible disruption in operations due to a war with Iraq; 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, 2007, filed with the Securities and Exchange Commission.

ITEM 9.01      EXHIBITS

          

EXHIBIT 99.1 Fleet Status Report at August 28, 2008


EXHIBIT INDEX
 

EXHIBIT NO.      DESCRIPTION

99.1     

Fleet Status Report at August 28, 2008





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: August 28, 2008



EX-99 2 exh991.htm

ATWOOD OCEANICS, INC. AND SUBSIDIARIES FLEET STATUS REPORT
AS OF AUGUST 28, 2008

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, 2007, 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.

CHANGES WILL BE HIGHLIGHTED IN YELLOW


 
 
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
, 2008/MONTH ENDED JULY 31, 200 8 ONLY

ADDITIONAL COMMENTS

SEMISUBMERSIBLES:

ATWOOD
EAGLE

5000’

Australia

WOODSIDE
ENERGY LTD
(“WOODSIDE”)

FIRM WORK –

(2 years)
June 2010

Approximately $405,000

$142,000/$134,000

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 cannot be drilled before January 1, 2009 but must be drilled by the end of calendar year 2009.)

 

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.

ATWOOD HUNTER

5,000’

Mauritania

PETRONAS CARIGALI SDN. BHD. From Farmout of WOODSIDE CONTRACT

FIRM WORK -

End of September 2008

$240,000

$79,000/$71,000

 
   

Mobilizing to Eastern Mediterranean Sea

NOBLE ENERGY, INC. (“NOBLE”)

FIRM WORK -

October/November 2008 (Estimated to take 35 days)

$460,000

N/A

 
   

Eastern Mediterranean Sea

NOBLE

FIRM WORK -

January/April 2009

(Estimated to take 80 to 160 days)

$511,000

N/A

Subject to change due to cost escalation provisions in the contract.

   

Mobilizing to Ghana

KOSMOS ENERGY GHANA HC (“KOSMOS”)

FIRM WORK -

March/June 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 -

December 2009/March 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 $24,000 of amortized per day revenue

$64,000/$74,000

The rig could incur 2 to 4 zero rate days during the second quarter of fiscal year 2009 due to required regulatory inspections.

 

   

Malaysia

SHELL

OPTION –

(1 year)

 

TBD

N/A

 

ATWOOD SOUTHERN CROSS

2,000’

Italy

ENI Spa AGIP EXPLORATION & PRODUCTION DIVISION

 

FIRM WORK –

End of August 2008

$406,000

$90,000/$92,000

 
   

Mobilizing to West Africa

OPERATOR IN WEST AFRICA

FIRM WORK –
End of September 2008 (Estimated to take 27 days)

 

$262,500

N/A

The contract is subject to the operator’s administrative approval process.

   

West Africa

OPERATOR IN WEST AFRICA

FIRM WORK –
November/December 2008 (Drilling Operations Estimated to take 60 to 90 days to complete)

 

$352,000

 

Additional contract opportunities following the completion of this one-well are currently being pursued.

CANTILEVER JACK-UPS:

ATWOOD BEACON

400’

India

GUJARAT STATE PETROLEUM CORPORATION LTD (“GSPC”)

FIRM WORK –

Completion of well in progress at the end of January 2009

$133,500

$50,000/$48,000

 
   

India

GSPC

OPTION –

(1 year)

TBD

N/A

 
   

TBD

N/A

N/A

N/A

N/A

The rig is expected to incur 3 zero rate days during the first quarter of fiscal year 2009 for required regulatory inspections.


               

VICKSBURG

300’

Thailand

CHEVRON OVERSEAS PETROLEUM

FIRM WORK –

June 2009

$154,000

$58,000/$45,000

 
   

TBD

N/A

N/A

N/A

N/A

The rig could incur three (3) weeks of zero rate days during the fourth quarter of fiscal year 2009 for required maintenance and equipment upgrades.


 

ATWOOD AURORA

350’

Under Construction at Brownsville, Texas with Delivery Expected end of November 2008 at which Time the Rig will be Mobilized to Egypt


 

RWE DEA NILE GmbH (“RWE”)

FIRM WORK –

February 2011

$165,000/plus approximately $6,000 per day of amortized per day revenue

N/A

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 –

August 2009

$80,000
(The rig incurred four (4) zero rate days in June.)

$84,000$84.000

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 –

(2 six-month options)
September 2010

(if all the three ( 2) six-month options are exercised)

 

$76,000

N/A

Dayrate subject to increase due to contract cost escalations.

   

Equatorial Guinea

N/A

N/A

N/A

N/A

The rig could incur three (3) to five (5) zero rate days in the fourth quarter of fiscal year 2008 for maintenance and up to three (3) zero rate days in the fourth quarter of fiscal year 2009 for required inspection.

 

SUBMERSIBLE:

         

RICHMOND

70’

US Gulf of Mexico

CONTANGO OPERATIONS INC. (“CONTANGO”)

 

FIRM WORK –

End of August 2008

$65,000

$46,000/$39,000

 
   

US Gulf of Mexico

CONTANGO

FIRM WORK –
One well
November 2008

 

$75,000

N/A

 
   

US Gulf of Mexico

CONTANGO

FIRM WORK –
One well
February 2009

 

$78,000

N/A

 
   

US Gulf of Mexico

CONTANGO

OPTION –
March 2009

 

TBD

N/A

 


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 2008 to be 10% to 11%.

2)     

Other Drilling Costs in Addition to the Above Rig Costs –




AVERAGE PER DAY FOR THE THREE MONTHS ENDED JULY 2008           $12,000

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