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:  MARCH 11, 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 BEACON is currently drilling the last well under its contract with Gujarat State Petroleum Corporation offshore India.  The drilling of this well is currently expected to take until mid-July 2009 to complete.  Currently, we do not have a contract commitment for the rig following the completion of its current contract.  The VICKSBURG continues to work offshore Thailand under its contract with Chevron Overseas Petroleum, which extends to June 2009.  Currently, we do not have a contract commitment for the VICKSBURG following the completion of its current contract.  We continue to evaluate the possibility of the VICKSBURG undergoing an equipment upgrade which we had previously reported could cost up to $30 million; however, we currently estimated the cost of this upgrade to be $10 million to $15 million.  This upgrade, which could take approximately 4 weeks to complete, could occur during the last quarter of fiscal year 2009; however, depending upon the rig’s future contract opportunities, this upgrade could be deferred to a later date.  We will pursue additional contract opportunities for both the ATWOOD BEACON and VICKSBURG in all worldwide markets in which they can technically work; however, we expect all contract opportunities to be very competitive.

The ATWOOD AURORA is now on location offshore Egypt.  The rig is currently completing its commissioning following weather delays and is expected to commence working under its contract with RWE DEA Nile GmbH before the end of March 2009.

We have taken the opportunity since the ATWOOD SOUTHERN CROSS has been idle to replace certain equipment and perform general maintenance on the rig.  Contract opportunities are currently being pursued for the rig in all worldwide markets in which it technically can work.

The ATWOOD HUNTER has commenced drilling the second of now three wells to be drilled for Noble Energy, Inc., (“Noble”) offshore Israel.  The joint contract with Noble and Kosmos Energy Ghana (“Kosmos”) was amended to allow Noble to drill a third well offshore Israel.  The work offshore Israel is currently expected to extend to July 2009.  Immediately upon completion of this work, the rig will mobilize to Ghana (estimated to take 55 days) to commence working for Kosmos under a drilling program expected to take 270 days to complete, at which time, the rig will again work for Noble offshore Equatorial Guinea.  The combined contract commitments with Noble and Kosmos are expected to extend to October/November 2012.

The RICHMOND is preparing to commence drilling the last well currently committed under its contract with Contango Operations, Inc. at a dayrate of $85,000, which is expected to extend to May 2009.  We are optimistic the RICHMOND will remain highly utilized following the completion of its current contract; however, we anticipate its dayrate will decline.

The construction of our two deepwater semisubmersibles continues on schedule.  The ATWOOD OSPREY, which we have invested to-date approximately $175 million towards its estimated total construction costs of around $600 million, is expected to be delivered in early 2011.  The ATWOOD OSPREY’s contract with Chevron Australia Pty Ltd., (“Chevron”) provides that Chevron could elect to cancel the contract if the construction of the rig has not been completed by January 31, 2012.  Our dynamically positioned semisubmersible, which has not as yet been named and which we have invested to-date approximately $200 million toward its estimated total construction costs of around $750 million, is expected to be delivered in 2012.

Additional information with respect to the Company’s Fleet Status Report at March 10, 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 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, 2008, filed with the Securities and Exchange Commission.

ITEM 9.01                                EXHIBITS

EXHIBIT 99.1    Fleet Status Report at March 11, 2009

EXHIBIT INDEX

EXHIBIT NO.                                                   DESCRIPTION

99.1                                Fleet Status Report at March 11, 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: March 11, 2009

EX-99.1

EXHIBIT 99.1

ATWOOD OCEANICS, INC. AND SUBSIDIARIES FLEET STATUS REPORT

AS OF MARCH 11, 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 JANUARY 31, 2008/MONTH ENDED JANUARY 31, 2008 ONLY	ADDITIONAL COMMENTS
SEMISUBMERSIBLES:
ATWOOD EAGLE		5000’	Australia	WOODSIDE ENERGY LTD (“WOODSIDE”)	FIRM WORK – (2 years) June 2010		Approximately $405,000	$110,000,/$102,000	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.
			TBD	N/A	N/A		N/A	N/A	The rig could incur ten (10) zero rate days in the first quarter of 2010 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	$102,000/$95,000	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 third 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	$83,000/$102,000
			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’				FIRM WORK – NONE		NONE	$81,000/$75,000	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 well in progress at the end of January 2009 (Estimated July 2009		$133,500	$48,000/$47,000
VICKSBURG	300’		Thailand	CHEVRON OVERSEAS PETROLEUM	FIRM WORK – June 2009		$154,000	$46,000/$45,000
			TBD	N/A	N/A		N/A	N/A		The rig could incur four (4) weeks of zero rate days during the third or fourth quarters of fiscal year 2009 for required maintenance and equipment upgrades.
ATWOOD AURORA	350’		Preparing to commence mobilization to Egypt	RWE DEA NILE GmbH (“RWE”)	FIRM WORK – March 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 – March 2010	$85,000	$67,000/$66,000		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.
			Equatorial Guinea	N/A		N/A	N/A	N/A		The rig could incur three (3) to five (5) zero rate days during fiscal year 2009 for required maintenance.
SUBMERSIBLE:
RICHMOND	70’		US Gulf of Mexico	CONTANGO OPERATIONS INC. (“CONTANGO”)		FIRM WORK – (One well) May 2009	$85,000	$39,000/$36,000
			US Gulf of Mexico	CONTANGO		OPTION – TBD	TBD	N/A
			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 around 16%.

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

ESTIMATED AVERAGE PER DAY FOR THE THREE MONTHS ENDING MARCH 2009                                                                                                                                                                           ;           $25,000