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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: October 6, 2003
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 OCTOBER 6, 2003
ITEM 9. REGULATION FD DISCLOSURE
The ATWOOD SOUTHERN CROSS has been awarded a contract by Cairn Energy India
Pty. Limited ("Cairn") to drill one firm well plus options for two additional
wells off the coast of India. The drilling of the firm well is expected to take
around 60 days to complete and, if the two options are exercised, another 80
days could be added to the program. The contract provides for a dayrate of
$30,000 and a mobilization fee of $3 million, which is expected to cover the
cost of relocating the rig from Egypt to India. Drilling operations are not
expected to commence until the end of November, 2003. Contract opportunities for
additional work following completion of the Cairn contract are being pursued in
India and other areas of Southeast Asia.
The RICHMOND is currently working under a contract with Union Oil Company
of California ("Unocal"). Initially, the contract provided for the drilling of
two firm wells plus an option well. 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, of which, one has been
completed. The Unocal contract provides for a dayrate of $26,500 and should take
until February 2004 to complete.
Additional information with respect to the Company's Contract Status
Summary October 6, 2003 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, 2002,
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: October 6, 2003
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Contract Status Summary at October 6, 2003
EXHIBIT 99.1
ATWOOD OCEANICS, INC. AND SUBSIDIARIES
CONTRACT STATUS SUMMARY
AT OCTOBER 6, 2003
ATWOOD OCEANICS, INC. AND SUBSIDIARIES
CONTRACT STATUS SUMMARY
AT OCTOBER 6, 2003
NAME OF RIG LOCATION CUSTOMER CONTRACT STATUS
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SEMISUBMERSIBLES -
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ATWOOD FALCON MALAYSIA SARAWAK SHELL ("SHELL") The rig is currently working under a drilling
program in Malaysia to drill one well for Shell.
The drilling of this well is estimated to take
until mid-November 2003 to complete. Following
completion of its work in Malaysia, the rig will
be moved to Japan to drill two wells estimated to
take 100 to 120 days to complete.
ATWOOD HUNTER ISRAEL ISRAMCO, INC. The rig is expected to complete its one well
program in Israel in mid-October 2003. Upon
completion of this work, the rig may be idle while
waiting for its next contract opportunity. Future
contract opportunities for additional work are
being pursued in the Mediterranean area, as well
as areas outside of the Mediterranean.
ATWOOD EAGLE ANGOLA CNR RANGER (ANGOLA) On September 22, 2003, the rig completed its work
LIMITED ("CNR") for ExxonMobil and is currently preparing to
commence in early to mid October 2003 a one-well
drilling program for CNR, which is expected to
take 40 to 106 days to complete. Contract
opportunities for additional work in Angola and
elsewhere in West Africa are being pursued.
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 EGYPT PREPARING CAIRN ENERGY INDIA PTY. The rig is currently preparing to be mobilized to
TO MOBILIZE TO LIMITED ("CAIRN") India to commence, at the end of November 2003, a
INDIA one-well plus two-options drilling program for
Cairn. The one firm well is expected to take 60
days to complete and, if the two options are
exercised, an additional 80 days could be added to
the drilling program. Contract opportunities for
additional work in India, as well as other areas
of Southeast Asia are being pursued.
SEASCOUT UNITED STATES The SEASCOUT was purchased in December 2000 for
GULF OF MEXICO future 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
PRODUCTION MALAYSIA INC. drilling program (with an option by EMEPMI for one
("EMEPMI") additional year), with EMEPMI having the right to
terminate the drilling program after one year with
at least 120 days notice period.
ATWOOD BEACON MALAYSIA MURPHY SARAWAK OIL In early August 2003, the rig commenced working
COMPANY, LTD. ("MURPHY") under a contract with Murphy which provided for
the drilling of three firm wells plus options to
drill five additional wells off the coast of
Malaysia. Murphy has now exercised its option to
extend the contract for the additional five
wells. It should take until January/February 2004
to complete the drilling of the eight wells.
Contract opportunities for additional work
following completion of the Murphy contract are
being pursued.
SUBMERSIBLE -
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RICHMOND UNITED STATES UNION OIL COMPANY OR In September 2003, the rig commenced a two-well
GULF OF MEXICO CALIFORNIA ("UNION") plus one option well contract for UNION. UNION
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.