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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: April 9, 2002
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
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ITEM 7. EXHIBITS
EXHIBIT 99.1 CONTRACT STATUS SUMMARY AT APRIL 9, 2002
ITEM 9. REGULATION FD DISCLOSURE
The RICHMOND (a submersible drilling unit located in the United States Gulf
of Mexico) has been awarded a contract by El Paso Production Oil & Gas Company
to drill one well, plus an option for one additional well. The operating dayrate
for the firm well is $18,000, with the well estimated to take 70 to 90 days to
complete. This drilling program will commence upon completing (estimated by the
end of April 2002) the current dockside maintenance, inspections and painting
being performed on the rig.
The ATWOOD EAGLE continues to work under its one-well program in Sicily
which is currently expected to be completed toward the end of April 2002. Upon
completion of this commitment, the rig will be immediately moved to a shipyard
in Greece to commence its $90 million upgrade.
The ATWOOD FALCON continues its work in the Philippines, which is now
expected to be completed in late April to early May 2002. Upon completion of
this commitment, the rig will be moved to Malaysia to commence its firm
five-well plus option contract.
The ATWOOD SOUTHERN CROSS is scheduled to complete its current drilling
program in Egypt by the middle of April 2002 and then has a four to five month
drilling program in Israel. The Company continues to monitor the ongoing
situation in Israel, in particular, and the Middle East, in general for any
future developments, which could negatively affect future operations.
Additional information with respect to the Company's contract status
summary at April 9, 2002 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 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, 2001, 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: April 9, 2002
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
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99.1 Contract Status Summary at April 9, 2002
EXHIBIT 99.1
ATWOOD OCEANICS, INC. AND SUBSIDIARIES
CONTRACT STATUS SUMMARY
AT APRIL 9, 2002
NAME OF RIG LOCATION CUSTOMER CONTRACT STATUS
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SEMISUBMERSIBLES -
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ATWOOD FALCON PHILIPPINES SHELL PHILIPPINES The rig's current contract terminates upon completion of
EXPLORATION B.V. the present work in progress, estimated to be in late
April to early May 2002. Immediately upon completion of
the current contract, the rig will be moved to Malaysia to
commence a drilling program for Sarawak Shell Berhad and
Sabah Shell Petroleum Company Ltd. ("Shell"). The
drilling contract includes five firm wells plus provides
Shell with options to drill five additional wells.
ATWOOD HUNTER EGYPT BURULLUS GAS COMPANY The rig commenced in December 2001 an eleven-well drilling
program estimated to take between 280 and 340 days to
complete.
ATWOOD EAGLE MEDITERRANEAN SEA ENI S.P.A. - AGIP The rig is drilling a one-well program off the coast of
DIVISION ("AGIP") Sicily (estimated to be completed by the end of April
2002). An approximate $90 million upgrade of the rig is
planned immediately upon the rig completing its current
contractual commitment. The upgrade should take
approximately six months shipyard time to complete.
Contract opportunities to commence following the rig's
upgrade are being pursued internationally. AGIP has an
option to drill one additional well at a future date.
SEAHAWK MALAYSIA EXXONMOBIL EXPLORATION & The rig's current contract terminates in November 2003,
PRODUCTION MALAYSIA, INC. with an option for the Operator to extend.
ATWOOD SOUTHERN CROSS MEDITERRANEAN SEA RASHID PETROLEUM COMPANY The rig has contractual commitments in Egypt and Israel
which should keep the rig employed into the fourth quarter
of fiscal 2002.
SEASCOUT UNITED STATES GULF The SEASCOUT was purchased in December 2000 for future
OF MEXICO conversion to a tender-assist unit, similar to the
SEAHAWK, once an acceptable contract opportunity is
secured.
CANTILEVER JACK-UPS -
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VICKSBURG MALAYSIA-THAILAND CARIGALI-TRITON The rig commenced a drilling program in October 2001 which
JOINT DEVELOPMENT OPERATING COMPANY could include up to 31 wells (completion of which should
AREA ("CTOC") extend into fiscal 2003). CTOC has the option of canceling
the contract at any time after giving a sixty-day written
notice of termination.
ATWOOD BEACON UNDER CONSTRUCTION The Company expects the construction of this ultra-premium
jack-up drilling unit to be completed in June 2003.
SUBMERSIBLE -
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RICHMOND UNITED STATES GULF EL PASO PRODUCTION The drilling unit is currently at a dockside location
OF MEXICO OIL & GAS undergoing some general maintenance, painting and inspections
which could take until the end of April 2002 to complete.
Upon completion of this scheduled work, the rig will commence
drilling a one-well (estimated to take between 70 and 90 days
to complete) plus an one-option well program in the US
Gulf of Mexico.
MODULAR PLATFORMS -
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RIG-200 AUSTRALIA The rig is available for contract since it became idle
in June 1999.
MANAGEMENT/LABOR CONTRACTS
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GOODWYN 'A' / AUSTRALIA WOODSIDE ENERGY LTD. There is currently an indefinite planned break in drilling
NORTH RANKIN 'A' activity for the two client-owned rigs. The Company is
involved in maintenance of the two rigs for future drilling
programs.