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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: August 21, 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.)
ITEM 7. EXHIBITS
EXHIBIT 99.1 CONTRACT STATUS SUMMARY AT AUGUST 21, 2003
ITEM 9. REGULATION FD DISCLOSURE
The ATWOOD HUNTER is currently idle offshore Egypt preparing to mobilize
for its next contract. The rig has been awarded a contract by Isramco, Inc. to
drill one well off the coast of Israel, which should commence in early September
2003 and should take approximately 30 days to complete. The contract provides
for a dayrate of $44,000. Future contract opportunities for additional work are
being pursed in the Mediterranean area, as well as outside of the Mediterranean.
In early August 2003, the ATWOOD BEACON commence working under a contract
with Murphy Sarawak Oil Co. Ltd. ("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. All eight wells will have a dayrate in the low $50,000's
and should take until January/February 2004 to complete. Contract opportunities
for additional work following completion of the Murphy contract are being
pursued.
The RICHMOND is currently drilling one well for Spinnaker Exploration
Company, L.L.C. ("Spinnaker") which is expected to be completed during the first
half of September 2003. Immediately upon completion of the Spinnaker contract,
the rig will commence a two-well plus one option well contract for Union Oil
Company of California ("Unocal"). The Unocal contract provides for a dayrate of
$24,000 with the two firm wells expected to take around 50 days to complete.
The ATWOOD SOUTHERN CROSS has been relocated to Egypt where it is currently
stacked while waiting for its next contract opportunity. Contract opportunities
for additional work are being pursued in the Mediterranean Area, as well as in
other areas of the world.
Additional information with respect to the Company's Contract Status
Summary August 21, 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: August 21, 2003
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
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99.1 Contract Status Summary at August 21, 2003
EXHIBIT 99.1
ATWOOD OCEANICS, INC. AND SUBSIDIARIES
CONTRACT STATUS SUMMARY
AT AUGUST 21, 2003
NAME OF RIG LOCATION CUSTOMER CONTRACT STATUS
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SEMISUBMERSIBLES -
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ATWOOD FALCON MALAYSIA MURPHY SABAH OIL CO. AND The rig has commenced a drilling program in
SARAWAK SHELL Malaysia to drill one well for Murphy Sabah
Oil Co and one well for Sarawak Shell. The
drilling of these wells should take between
100 and 140 days to complete. Murphy has an
option to drill one additional well at a
later date. 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 EGYPT ISRAMCO, INC. The rig is currently stacked in Egypt
preparing to mobilize to Israel at the end of
August/early September 2003 to drill one well
which is expected to take approximately 30
days to complete. Future contract
opportunities for additional work are being
pursued in the Mediterranean area, as well as
areas outside of the Mediterranean.
ATWOOD EAGLE ANGOLA ESSO EXPLORATION ANGOLA The rig is drilling the third well of a firm
(BLOCK 15) LIMITED three well contract with ESSO off the coast
("ESSO") of Angola. ESSO has options for four
additional wells. If no option wells are
drilled, the contract could terminate around
the end of August or early September 2003.
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
PRODUCTION MALAYSIA December 2004, with an option for the
INC. ("EMEPMI") Operator to extend. 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 The rig is currently stacked in Egypt while
waiting for its next contract opportunity.
Contract opportunities for future work are
being pursued in the Mediterranean area, as
well as areas outside of the Mediterranean.
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.
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 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
COMPANY, LTD. ("MURPHY") working 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 SPINNAKER EXPLORATION The rig is currently drilling one well for
GULF OF MEXICO COMPANY, L.L.C. Spinnaker which is expected to be completed
("SPINNAKER") between late August and mid September 2003.
Immediately upon completion of the Spinnaker
contract, the rig will commence a two-well
plus one option well contract for Union Oil
Company of California. Drilling of the two
firm wells is expected to take around 50 days
to complete.
MODULAR PLATFORMS -
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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.