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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: September 6, 2005
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 September 6, 2005, the Company announced that the ATWOOD BEACON, owned
and operated by its wholly owned subsidiary Atwood Oceanics Pacific Limited, has
been awarded a twenty-five (25) month contract by Gujarat State Petroleum
Corporation Ltd. ("GSPC") to drill offshore India. The contract provides for a
dayrate of $113,000 for the first thirteen (13) months and $133,500 for the last
twelve (12) months, with a moving rate of $110,000 plus all tow vessels to be
provided by GSPC. Immediately upon the rig completing its current contract in
Vietnam (estimated May/June 2006), it will be towed to Singapore by GSPC at a
moving rate of $110,000. Upon arriving in Singapore, the rig will enter a
shipyard to have its final section of legs installed, which will take
approximately two (2) weeks to complete, with the downtime covered by $70,000
per day in remaining loss of hire insurance. Immediately upon leaving the
shipyard, the rig will be mobilized to India.
A copy of the press release announcing the ATWOOD BEACON contract 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 September 6, 2005
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, 2004, filed with the Securities and Exchange Commission.
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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: September 6, 2005
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
EX - 99.1 Press Release dated September 6, 2005
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EXHIBIT EX. - 99.1
ATWOOD OCEANICS ANNOUNCES ATWOOD BEACON CONTRACT
Houston, Texas
6 September 2005
FOR IMMEDIATE RELEASE
Atwood Oceanics, Inc. (Houston based International Offshore Drilling
Contractor - NYSE ATW) announced today that the ATWOOD BEACON, owned and
operated by its wholly owned subsidiary Atwood Oceanics Pacific Limited, has
been awarded a twenty-five (25) month contract by Gujarat State Petroleum
Corporation Ltd. ("GSPC") to drill offshore India. The contract provides for a
dayrate of $113,000 for the first thirteen (13) months and $133,500 for the last
twelve (12) months, with a moving rate of $110,000 plus all tow vessels to be
provided by GSPC. Immediately upon the rig completing its current contract in
Vietnam (estimated May/June 2006), it will be towed to Singapore by GSPC at a
moving rate of $110,000. Upon arriving in Singapore, the rig will enter a
shipyard to have its final section of legs installed, which will take
approximately two (2) weeks to complete, with the downtime covered by $70,000
per day in remaining loss of hire insurance. Immediately upon leaving the
shipyard, the rig will be mobilized to India.
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, 2004, filed with the Securities and Exchange Commission.
Contact: Jim Holland
(281) 749-7804
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