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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
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Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF EARLIEST EVENT REPORTED: January 8, 2004
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 Identification No.)
incorporation or organization)
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
N/A
(Former name or former address, if changed since last report.)
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ITEM 7. EXHIBITS
EXHIBIT 99.1 CONTRACT STATUS SUMMARY AT JANUARY 8, 2004
ITEM 9. REGULATION FD DISCLOSURE
The ATWOOD SOUTHERN CROSS, which commenced a one well program for Cairn
Energy India Pty. Limited ("Cairn") in early December 2003, completed this
program on January 8, 2004. Cairn, which had options for two additional wells,
has advised that no options will be exercised. The contract with Cairn provides
for a demobilization fee of $400,000. The rig will remain in India while waiting
for its next contract opportunity. Contract opportunities for additional work
are being pursued in India, Malaysia and other areas of Southeast Asia.
The ATWOOD FALCON has completed its mobilization to Japan and is preparing
to commence its two-well drilling program for Japan Energy Development Co., LTD.
This drilling program is expected to take around 100 to 120 days to complete.
The ATWOOD HUNTER has commenced its drilling program for Burullus Gas Co.
in Egypt, which includes ten firm wells, plus options to drill six additional
wells. The drilling of the ten firm wells are expected to take around 400 days
to complete and if all the option wells are drilled, the contract could extend
for around 550 days.
The ATWOOD EAGLE is continuing to prepare for its mobilization to Australia
which is scheduled to commence around mid-January 2004.
Additional information with respect to the Company's Contract Status
Summary at January 8, 2004 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 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 war; 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, 2003,
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: January 8, 2004
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Contract Status Summary at January 8, 2004
EXHIBIT 99.1
ATWOOD OCEANICS, INC. AND SUBSIDIARIES
CONTRACT STATUS SUMMARY
AT JANUARY 8, 2004
NAME OF RIG LOCATION CUSTOMER CONTRACT STATUS
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SEMISUBMERSIBLES -
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ATWOOD FALCON JAPAN JAPAN ENERGY DEVELOPMENT The rig is preparing to commence its two-well drilling
CO. LTD. ("JED") program for JED. The drilling program is estimated
to take around 100 to 120 days to complete.
Immediately upon completing the JED contract, the rig
will be moved to China to drill one well for Husky Oil
China Ltd.
ATWOOD HUNTER EGYPT BURULLUS GAS CO. The rig has commenced a drilling program for Burullus
("BURULLUS") which includes ten firm wells, plus options to drill
six additional wells. The drilling of the ten firm
wells are expected to take around 400 days to complete
and if all the option wells are drilled, the contract
could extend for around 550 days.
ATWOOD EAGLE ANGOLA PREPARING BHP BILLITON PETROLEUM The rig is currently idle offshore Angola preparing to
TO MOBILIZE IN PTY. LTD. ("BHP") AND be mobilized in January 2004 to Australia. The
JANUARY 2004 TO APACHE ENERGY LIMITED Company has commitments from BHP and Apache to drill
AUSTRALIA ("APACHE") three firm wells plus options to drill an additional
four wells. Drilling of the three firm wells is
expected to take three to four months to complete. In
accordance with these commitments, the Company has
entered into a contract with a towing company to
transport the rig from Angola to Australia which is
estimated to take approximately 30 days, with the tow
scheduled to commence around mid-January 2004.
Drilling contracts with BHP and Apache should be
formalized in January 2004.
SEAHAWK MALAYSIA EXXONMOBIL EXPLORATION & The rig's current contract terminates in December
PRODUCTION MALAYSIA 2004, with an option for the Operator to extend.
INC. ("EMEPMI") EMEPMI has the right to terminate the contract after
the completion of the first six months of the
extension period (which commences in December 2003)
with 120 days written notice.
ATWOOD SOUTHERN CROSS INDIA The rig is currently idle in India while waiting for
its next contract opportunity. Contract opportunities
for additional work are being pursued in India,
Malaysia and other areas of Southeast Asia.
SEASCOUT UNITED STATES The SEASCOUT was purchased in December 2000 for future
GULF OF MEXICO conversion to a tender-assist unit, similar to the
SEAHAWK, once an acceptable contract opportunity is
secured. The rig is currently coldstacked.
CANTILEVER JACK-UPS -
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VICKSBURG MALAYSIA EXXONMOBIL EXPLORATION & In October 2002, the rig commenced a two-year drilling
PRODUCTION MALAYSIA INC. program (with an option by EMEPMI for one additional
("EMEPMI") year), with EMEPMI having the right to terminate the
drilling program after one year with at least 120 days
notice period.
ATWOOD BEACON MALAYSIA PETRONAS CARIGALI SDN. In early August 2003, the rig commenced working under
BHD. ("PETRONAS") a contract with Murphy Sarawak Oil Company, Ltd.
("Murphy") which provided for the drilling of three
firm wells plus options to drill five additional wells
off the coast of Malaysia. Murphy exercised its
option to extend the contract for the additional five
wells and then assigned four of the option wells to
Petronas. Petronas has awarded the rig four more firm
wells for a current total of eight wells to be
drilled. Petronas is presently drilling its second
well. It should take until April/May 2004 to complete
the drilling of the eight wells. Contract
opportunities for additional work following completion
of the Petronas contract are being pursued in Malaysia
as well as other areas outside of Malaysia.
SUBMERSIBLE -
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RICHMOND UNITED STATES UNION OIL COMPANY OF In September 2003, the rig commenced a two-well plus
GULF OF MEXICO CALIFORNIA ("UNOCAL") one option well contract for UNOCAL. UNOCAL has
exercised the option well and in addition, has awarded
the rig two more firm wells; thus, providing for a
total of five wells to be drilled under the contract.
It should take until around February 2004 to complete
the drilling of the five wells.
MODULAR PLATFORMS -
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GOODWYN 'A' /NORTH AUSTRALIA WOODSIDE ENERGY LTD. There is currently an indefinite planned break in
RANKIN 'A' drilling activity for the two client-owned rigs
managed by the Company. The Company is involved in
maintenance of the two rigs for future drilling
programs.