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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: November 1, 2004
ATWOOD OCEANICS, INC.
(Exact name of registrant as specified in its charter)
COMMISSION FILE NUMBER 1-13167
Internal Revenue Service - Employer Identification No. 74-1611874
15835 Park Ten Place Drive, Houston, Texas, 77084
(281) 749-7800
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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))
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ITEM 8.01 OTHER EVENTS
On November 1, 2004, the Company announced that the ATWOOD FALCON has been
awarded a contract by Japan Energy Development Co., Ltd. ("JED") to drill one
firm well with an option to drill one additional well off the coast of Japan.
This drilling program will commence immediately upon the rig completing its
current contract for Sarawak Shell in Malaysia, which is expected to be
completed in February 2005. The JED contract provides for a dayrate of $88,300
for both firm and option wells and mobilization and demobilization payments of
approximately $1.9 million, respectively.
The Company also announced that the ATWOOD EAGLE has been awarded
additional work under an existing contract with Woodside Energy, Ltd.
("Woodside") to drill three (3) firm wells with options to drill three (3)
additional wells off the coast of Australia. The rig's current drilling
commitments with Woodside and BHP Billiton Petroleum Pty. are expected to be
completed around January 15, 2005. The additional work with Woodside is not
expected to commence until February 15, 2005. During the planned break in
drilling commitments, certain inspections and maintenance work will be performed
on the rig.
A copy of the press release announcing these contract awards is filed with
the Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
ITEM 9.01 EXHIBITS
EXHIBIT NO.
EX-99.1 Press Release dated November 1, 2004
EX-99.2 Contract Status Summary at November 1, 2004
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 and repair 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.
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
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EX - 99.1 Press Release dated November 1, 2004
EX - 99.2 Contract Status Summary at November 1, 2004
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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: November 1, 2004
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EXHIBIT EX. - 99.1
ATWOOD ANNOUNCES CONTRACT FOR
ATWOOD FALCON AND ATWOOD EAGLE
Houston, Texas
01 November 2004
FOR IMMEDIATE RELEASE
Atwood Oceanics, Inc. (Houston-based International Offshore Drilling
Contractor - NYSE: ATW) announced today that the ATWOOD FALCON has been awarded
a contract by Japan Energy Development Co., LTD. to drill one (1) firm well with
an option to drill one (1) additional well off the coast of Japan. The contract
provides for a dayrate of $88,300 for both the firm and option wells and
mobilization and demobilization payments of approximately $1.9 million,
respectively. The ATWOOD FALCON is currently drilling a program for Sarawak
Shell in Malaysia which is expected to be complete in February 2005. Upon
completion of this contract, the rig will be moved to Japan, with an anticipated
commencement of drilling operations in Japan in March 2005. The drilling of the
firm well as well as the option well, if drilled, are estimated to take 60 to
100 days, respectively, to complete.
The Company also announced that the ATWOOD EAGLE has been awarded
additional work under an existing contract with Woodside Energy, Ltd.
("Woodside") to drill three (3) firm wells with options to drill three (3)
additional wells off the coast of Australia. The amended contract provides for a
dayrate of $89,000 for wells drilled in water depths below 600 meters and
$109,000 for wells drilled in water depths of 600 meters or more except that the
first well drilled in water depths between 600 meters and 700 meters will have a
dayrate of $99,000. The drilling of the three firm wells is expected to take
approximately four months to complete, and if all the option wells are drilled,
the contract could extend into September 2005. The rig's current drilling
commitments with Woodside and BHP Billiton Petroleum Pty. are expected to be
completed around January 15, 2005. The additional work with Woodside will not
commence until February 15, 2005. During the planned break in drilling
commitments, certain required inspections and maintenance work will be performed
on the rig.
Statements contained in this release 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; risks associated with
possible disruptions in operations due to terrorism; 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.
Contact: Jim Holland
(281) 749-7804
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EXHIBIT 99.2
ATWOOD OCEANICS, INC. AND SUBSIDIARIES
CONTRACT STATUS SUMMARY
AT NOVEMBER 1, 2004
NAME OF RIG LOCATION CUSTOMER CONTRACT STATUS
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SEMISUBMERSIBLES -
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ATWOOD FALCON MALAYSIA SARAWAK SHELL BERHAD The rig continues to work under the Shell contract
("SHELL") with the rig currently drilling the second of now four
firm wells after Shell exercised one of its two
options provided under the contract. This contract is
currently anticipated to extend into February 2005.
One option remains under the Shell contract.
Immediately upon completion of the Shell contract, the
rig will be move to Japan to commence a one firm well
plus an option to drill one additional well program
for Japan Energy Development Co., Ltd. The drilling
of the firm well, as well as the option well, if
drilled is estimated to take 60 to 100 days,
respectively, to complete.
ATWOOD HUNTER EGYPT BURULLUS GAS CO. On December 31, 2003, the rig commenced a drilling
("BURULLUS") program for Burullus which currently includes eleven
firm wells plus options to drill five additional
wells. The drilling of the eleven firm wells is
expected to take until February 2005 to complete, and
if all the option wells are drilled, the contract
could extend into September 2005.
ATWOOD EAGLE AUSTRALIA WOODSIDE ENERGY, LTD. The rig has commenced drilling the second of three
("WOODSIDE") firm wells for Woodside. The current Woodside
drilling program is expected to take until the end of
November 2004 to complete. BHP Billiton Petroleum
Pty. ("BHP"), the rig's prior customer, was previously
granted three option wells which can be drilled after
the completion of the Woodside contract and are
subject to mutual agreement on timing. BHP has now
exercised one of their three options, with the
drilling of this well to commence immediately after
the completion of the Woodside program and is expected
to take approximately 30 days to complete. BHP
retains the right to drill two option wells using the
rig. The rig has been awarded additional work under
its current contract with Woodside to drill three firm
wells with option to drill three additional wells off
the coast of Australia. The drilling of the three
firm wells is expected to take approximate four months
to complete, and if all the option wells are drilled,
the contract could extend into September 2005. The
rigs current drilling commitments with Woodside and
BHP are expected to be completed around January 15,
2005. The additional work with Woodside will not
commence until February 15, 2005.
SEAHAWK MALAYSIA SARAWAK SHELL BERHAD The rig has completed its contract with ExxonMobil
("SHELL") Exploration & Production Malaysia and has been moved
to the demobilization site at Kemanan Supply Base,
Malaysia. The rig will undergo some minor
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modifications and equipment change-out in preparation
for its next contract. This work is expected to take
approximately 30 days to complete. Shell has given a
commitment to utilize the SEAHAWK for a two-well
drilling program offshore Malaysia. The two-well
drilling program has an expected duration of 60 days,
and will commence immediately upon completion of the
minor rig modifi- cations and equipment change-out
work. Additional work, following the Shell contract,
is being pursued in Southeast Asia as well as other
areas of the world.
ATWOOD SOUTHERN CROSS MALAYSIA MURPHY SARAWAK OIL The rig continues to work under the Murphy contract
COMPANY, LTD. ("MURPHY") with the rig currently drilling the fourth of now five
firm wells with Murphy relinquishing its last option.
This contract is currently anticipated to extend into
December 2004. The rig has been awarded a contract by
Daewoo International Corporation ("Daewoo") to drill
two firm wells plus an option to drill one additional
well offshore Myanmar. The Daewoo work will commence
immediately after completing the Murphy program, and
is expected to take 90 days to complete.
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. There are currently no upgrade plans and the
rig is currently coldstacked.
CANTILEVER JACK-UPS -
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VICKSBURG MALAYSIA EXXONMOBIL EXPLORATION & In May 2004, the rig's contract with EMEPMI was
PRODUCTION MALAYSIA INC. suspended and the rig moved to Thailand to commence a
("EMEPMI") drilling program for Chevron Offshore (Thailand)
Limited. This program has now been completed. The
rig has been relocated back to Malaysia and the EMEPMI
contract reinstated. The EMEPMI drilling commitment
includes the five months that the contract was
suspended plus an extension of twelve months, for a
total of seventeen months commencing in October 2004.
EMEPMI retains its right to terminate the contract by
providing 120 days notice.
ATWOOD BEACON UNDER REPAIR AT The process of repairing the damage incurred by the
A SINGAPORE ATWOOD BEACON on July 25, 2004 continues on schedule.
SHIPYARD The rig is expected to return to service in January
2005. The ATWOOD BEACON has been awarded a contract
by HOANG LONG and HOAN VU Joint Operating Companies to
drill three firm wells, with options to drill three
additional wells, offshore Vietnam. The three firm
wells have a combined expected duration of 200 days
and if all option wells are drilled, the program could
extend for another 200 days. The drilling of this
program must commence between January 15, 2005 and
April 15, 2005.
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SUBMERSIBLE -
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RICHMOND UNITED STATES APPLIED DRILLING The rig is currently drilling a third well for ADTI
GULF OF MEXICO TECHNOLOGY INC. ("ADTI") which was assigned from Helis Oil & Gas Company
("Helis"). Upon completion of this well, the rig will
have three firm wells to drill for Helis, with Helis
retaining one option to drill two additional wells.
The drilling of the three remaining firm wells is
expected to take until February/March 2005 to complete
and if the option wells are drilled, the contract
could extend to June/July 2005.
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.
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