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: June 13, 2011

ATWOOD OCEANICS, INC.

(Exact name of registrant as specified in its charter)

TEXAS

(State or other jurisdiction of incorporation or organization)

COMMISSION FILE NUMBER 1-13167

Internal Revenue Service – Employer Identification No. 74-1611874

15835 Park Ten Place Drive

Houston, Texas, 77084

(Address of Principal Executive Offices)

(281) 749-7800

(Registrant’s Telephone Number,

Including Area Code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

____________

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

On June 13, 2011, the Company issued a press release announcing the delay of the deadline to exercise an option to construct a jack-up drilling unit.  A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d)   EXHIBITS

99.1           Press Release dated June 13, 2011

EXHIBIT INDEX

EXHIBIT NO.                                        DESCRIPTION

99.1                                Press Release dated June 13, 2011

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/ Mark L. Mey

Mark L. Mey

Senior Vice President

DATE: June 13, 2011

EX-99.1

EXHIBIT 99.1

ATWOOD OCEANICS ANNOUNCES DELAY OF DECISION DEADLINE TO EXERCISE OPTION TO CONSTRUCT ADDITIONAL JACK-UP DRILLING UNIT

Houston, Texas

June 13, 2011

FOR IMMEDIATE RELEASE

ATWOOD OCEANICS, INC., a Houston-based international drilling contractor (NYSE: ATW), announced today that on June 9, 2011, one of its subsidiaries had reached an agreement with the PPL Shipyard PTE LTD ("PPL") to delay the required commitment date for the next Pacific Class 400 jack-up drilling unit option until December 31, 2011, concurrent with the commitment date for the last Pacific Class 400 jack-up unit option.  At this time, the company has made no determination as to whether any of the two remaining options will be exercised.

The company currently has three Pacific Class 400 jack-up drilling units, the Atwood Mako, Atwood Manta, and Atwood Orca, under construction with PPL under turnkey construction agreements; these units will have a rated water depth of 400 feet, accommodations for 150 personnel and significant offline handling features.

Contact: Mark L. Mey

(281) 749-7902

Statements contained in this press release with respect to the future, including the exercise of the option and the term of the firm commitment, are forward-looking statements.  These statements reflect management’s reasonable judgment with respect to future events.  Forward-looking statements are subject to numerous risks, uncertainties and assumptions and actual results could differ materially from those anticipated as a result of various factors including: uncertainties related to the level of activity in offshore oil and gas exploration and development; oil and gas prices; competition and market conditions in the contract drilling industry; the risks inherent in the construction of a rig; delays in the  commencement of operations of a rig following delivery; our ability to enter into and the terms of future contracts; possible cancelation or suspension of drilling contracts; the availability of qualified personnel; labor relations; operating hazards and risks; terrorism and political and other uncertainties inherent  in foreign operations (including risk of war, civil disturbances, seizure or damage to equipment and exchange and currency fluctuations); the impact of  governmental and industry laws and regulations; and environmental matters.  These factors and others are described and discussed in our most recently filed annual report on Form 10-K, in our Forms 10-Q for subsequent periods and in our other filings  with the Securities and Exchange Commission which are available on the SEC’s website as www.sec.gov.  Each forward looking statement speaks only as of the date of the particular statement and we undertake no duty to update the content of this press release or any forward-looking statement contained herein to conform the statement to actual results or to reflect changes in our expectations.