================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
----------------
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 26, 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
================================================================================
ITEM 5. OTHER EVENTS
On November 26, 2002, the Company announced that it has a commitment from
ESSO Exploration Angola (Block 15) Limited to enter into a contact for the use
of the ATWOOD EAGLE to drill three firm wells, plus options for four additional
wells, off the coast of Angola. A copy of the press release announcing the
contract award is filed with the Form 8-K as Exhibit 99.1 and is incorporated
herein by reference.
ITEM 7. EXHIBITS
EXHIBIT 99.1 PRESS RELEASE DATED NOVEMBER 26, 2002
EXHIBIT 99.2 CONTRACT STATUS SUMMARY AT NOVEMBER 26, 2002
ITEM 9. REGULATION FD DISCLOSURE
Additional information with respect to the Company's contract status
summary at November 26, 2002 is attached hereto as EXHIBIT 99.2, 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: November 26, 2002
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Press Release Dated November 26, 2002
99.2 Contract Status Summary at November 26, 2002
EXHIBIT 99.1
ATWOOD ANNOUNCES CONTRACT COMMITMENT
FOR THE ATWOOD EAGLE
HOUSTON, TEXAS
26 November 2002
FOR IMMEDIATE RELEASE:
Atwood Oceanics, Inc. (a Houston based International Offshore Drilling
Contractor - NYSE:ATW) announced today that the Company has a commitment from
ESSO EXPLORATION ANGOLA (BLOCK 15) LIMITED to enter into a contract for the use
of the ATWOOD EAGLE to drill three firm wells, plus options for four additional
wells, off the coast of Angola. In accordance with the commitment, the Company
has entered into a contract with a towing company to transport the rig from
Greece to Angola, which is estimated to take 55 to 60 days, with the tow
scheduled to commence around November 30, 2002. The contract, which should be
formalized in December 2002, will provide for a dayrate of $83,000 and will
include a $2.7 million mobilization payment. If all seven wells are drilled, it
could take approximately one year to complete the drilling program.
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, 2001, filed with the Securities and Exchange Commission.
CONTACT: JIM HOLLAND
(281) 749-7804
EXHIBIT 99.2
EXHIBIT 99.2
ATWOOD OCEANICS, INC. AND SUBSIDIARIES
CONTRACT STATUS SUMMARY
AT NOVEMBER 26, 2002
NAME OF RIG LOCATION CUSTOMER CONTRACT STATUS
SEMISUBMERSIBLES -
ATWOOD FALCON MALAYSIA WOODSIDE ENERGY LTD. The rig has completed its work for Shell in
Malaysia and has commenced its mobilization
to Australia (expected to take three weeks)
to commence its two wells plus three-option
wells contract for Woodside Energy Ltd.
ATWOOD HUNTER EGYPT BURULLUS GAS COMPANY The rig's current contract with Burullus has
("BURULLUS") been extended by two additional wells. The
rig has been awarded a one-well contract by German
Oil & Gas Egypt. It should take approximately
100 days to complete the drilling of the three
wells.
ATWOOD EAGLE GREECE ESSO EXPLORATION ANGOLA The Company has a commitment from ESSO to
PREPARING FOR (BLOCK 15)LIMITED enter into a contract for the use of the rig
TOW TO ANGOLA ("ESSO") to drill three firm wells, plus options for
four additional wells, off the coast of Angola.
The tow from Greece to Angola is estimated to
take 55 to 60 days to complete. If all seven
wells are drilled, it could take approximately
one year to complete the drilling program.
SEAHAWK MALAYSIA EXXONMOBIL EXPLORATION & The rig's current contract terminates in
PRODUCTION MALAYSIA INC. December 2003, with an option for the
Operator to extend.
ATWOOD SOUTHERN CROSS MEDITERRANEAN ENI S.P.A. - AGIP The rig is in Italy completing certain
SEA DIVISION ("AGIP" ) upgrades to meet Italian requirements before
it can commence its contract for AGIP. The rig
is expected to commence the AGIP contract in early
December 2002, with the work expected to take
three to five months to complete.
SEASCOUT UNITED STATES The SEASCOUT was purchased in December 2000
GULF OF MEXICO for future conversion to a tender-assist
unit, similar to the SEAHAWK, once an
acceptable contract opportunity is secured.
CANTILEVER JACK-UPS -
VICKSBURG MALAYSIA EXXONMOBIL EXPLORATION In early October 2002, the rig commenced a
AND PRODUCTION MALAYSIA two-year drilling program (with an option by
INC. ("EMEPMI") EMEPMI for one additional year), with EMEPMI
having the right to terminate the drilling
program after one year at any time with a
120 days notice period
ATWOOD BEACON UNDER The Company expects the construction of this
CONSTRUCTION ultra-premium jack-up drilling unit to be
completed in June 2003.
SUBMERSIBLE -
RICHMOND UNITED STATES APPLIED DRILLING The rig is currently drilling one well for
GULF OF MEXICO TECHNOLOGY INC. Applied Drilling Technology Inc., which is
expected to be completed in late November/early
December 2002. Immediately upon completion
of its current contract, the rig will drill
one well for Burlington Resources Oil & Gas
Company. Contract opportunities to commence
following completion of the rig's current
contract are being pursued in the U.S. Gulf of
Mexico.
MODULAR PLATFORMS -
GOODWYN 'A' /NORTH AUSTRALIA WOODSIDE ENERGY LTD. There is currently an indefinite planned
RANKIN 'A' break in 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.