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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: February 5, 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
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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 FEBRUARY 5, 2003
ITEM 9. REGULATION FD DISCLOSURE
The ATWOOD HUNTER, upon completion of its current drilling commitments
(estimated around February 7, 2003), will drill one well for Apache
Mediterranean Corporation LDC ("Apache") off the coast of Egypt. The drilling of
the well is estimated to take 60 to 75 days to complete. The Agreement provides
for an operating dayrate of $37,000; however, after applying certain future
credits the recorded dayrate will be $29,000. Contract opportunities following
the completion of the Apache well are being pursued in the Mediterranean Area.
The ATWOOD FALCON continues on its contract commitment with Woodside Energy
Ltd. ("Woodside") in Australia. Woodside has exercised two of its three
remaining options under the contract and assigned one of these option wells to
BHP Billiton Petroleum Pty. Ltd. The two option wells should extend the rig's
work in Australia until March/April 2003.
Additional information with respect to the Company's Contract Status
Summary at February 5, 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 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 a war with Iraq; and governmental regulations
and environmental matters. A list of additional risk factors can be found in the
Company' 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: February 5, 2003
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Contract Status Summary at February 5, 2003
EXHIBIT 99.1
ATWOOD OCEANICS, INC. AND SUBSIDIARIES
CONTRACT STATUS SUMMARY
AT FEBRUARY 5, 2003
NAME OF RIG LOCATION CUSTOMER CONTRACT STATUS
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SEMISUBMERSIBLES -
ATWOOD FALCON AUSTRALIA WOODSIDE ENERGY LTD. The rig is drilling its third well for
("WOODSIDE") Woodside. Woodside has exercised two of its
three remaining options under the contract
and assigned one of these option wells to BHP
Billiton Petlroleum Pty. Ltd. The two
option wells that have been executed should extend
the rig's work in Australia until March/April 2003.
ATWOOD HUNTER EGYPT GERMAN OIL & GAS EGYPT The rig is currently drilling one well for
("GERMAN OIL") German Oil which is expected to be completed
around February 7, 2003. Upon completion of
this well, the rig will drill one well for
Apache Mediterranean Corporation LDC
("Apache"), which could take 60 to 75 days to
complete. Contract opportunities for
additional work following completion of the
Apache well are being pursued in the
Mediterranean Area.
ATWOOD EAGLE IN TOW TO ESSO EXPLORATION ANGOLA The Company has a commitment from ESSO to
ANGOLA (BLOCK 15) LIMITED enter into a contract for the use of the rig
("ESSO") to drill three firm wells, plus options for
four additional wells, off the coast of
Angola. The rig is expected to arrive Angola
around February 18, 2003; however, it may not
commence dayrate revenue until early to mid-
March 2003. The drilling program could
extend 6 to 12 months depending on the number
of options exercised.
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 commenced the AGIP contract in early
SEA DIVISION ("AGIP") 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 The Company expects the construction of this
UNDER ultra-premium jack-up drilling unit to be
CONSTRUCTION completed around June 2003.
SUBMERSIBLE -
RICHMOND UNITED STATES BURLINGTON RESOURCES OIL The rig is currently drilling one well for
GULF OF MEXICO & GAS COMPANY Burlington. Immediately upon completion of
("BURLINGTON") its current contract, the rig will commence a
three-firm wells, plus four-option wells
contract for Ocean Energy, Inc. The three
firm wells have an estimated duration of 90
to 120 days.
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.