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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: April 15, 2004
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
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(Former name or former address, if changed since last report.)
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EXHIBIT 99.1 PRESS RELEASE DATED APRIL 15, 2004
EXHIBIT 99.2 CONTRACT STATUS SUMMARY AT APRIL 15, 2004
ITEM 5.
On April 14, 2004 the Company announced that as advised in its Form 8-K
filed on March 16, 2004, ExxonMobil Exploration & Production Malaysia Inc.
("EMEPMI") will suspend the VICKSBURG contract upon completion of drilling on
the current platform which is expected to be early to mid May 2004, at which
time, the rig will be immediately moved to Thailand to commence an approximate
five-months drilling program for Chevron Offshore (Thailand) Limited
("Chevron"). EMEPMI will reinstate the VICKSBURG contract immediately upon the
rig being redelivered to Malaysia after completing the Chevron drilling program.
The EMEPMI drilling commitment will include the estimated five months suspension
period plus, an additional twelve months for a total of seventeen months
commencing in November 2004. EMEPMI retains its right to terminate the contract
with at least 120 days notice period. The Company also announced that the
RICHMOND has been awarded a contract by Helis Oil & Gas Company, L.L.C. to drill
four firm wells plus options for drilling four additional wells. A copy of the
press release announcing these contract is filed with this Form 8-K as Exhibit
99.1 and is incorporated herein by reference.
ITEM 9. REGULATION FD DISCLOSURE
The ATWOOD EAGLE is in the process of completing its one firm well
commitment for Apache Energy Limited in Australia and upon completing this well,
the rig will immediately commence its drilling program for BHP Billiton
Petroleum Pty. Ltd. ("BHP") which now includes three firm wells after BHP
exercised the first of three option wells. The drilling of these three firm
wells should take approximately 75 days to complete.
Additional information with respect to the Company's Contract Status
Summary at April 15, 2004 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 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, 2003,
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 15, 2004
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Press Release dated April 15, 2004
99.2 Contract Status Summary at April 15, 2004
EXHIBIT 99.1
Houston, Texas
15 April 2004
FOR IMMEDIATE RELEASE
Atwood Oceanics, Inc. (Houston-based International Offshore Drilling
Contractor - NYSE: ATW) announced today that as stated in the Form 8-K filed on
March 16, 2004 that ExxonMobil Exploration & Production Malaysia Inc. ("EMEPMI")
and the Company will suspend the VICKSBURG contract upon completion of drilling
on the current platform, which is expected to be early to mid May 2004, at which
time, the rig will be immediately moved to Thailand to commence an approximately
five months drilling program for Chevron Offshore (Thailand) Limited
("Chevron"). EMEPMI will reinstate the VICKSBURG contract immediately upon the
rig being redelivered to Malaysia after completing the Chevron drilling program.
The EMEPMI drilling commitment will include the estimated five months suspension
period plus an additional twelve months, for a total of seventeen months
commencing in November 2004. EMEPMI retains its right to terminate the contract
with at least 120 days notice. The rig's current dayrate is $64,500, with the
Chevron contract providing for a dayrate of $66,500. The dayrate once the rig
returns to EMEPMI will be $63,500. The VICKSBURG will remain on dayrate during
the periods required to move the rig from Malaysia to Thailand and back to
Malaysia.
The Company also announced that the RICHMOND has been awarded a contract by
Helis Oil & Gas Company, L.L.C. ("Helis") to drill four firm wells plus options
for drilling four additional wells. The rig will move to the first Helis
drilling location immediately upon completing its current contract with Bois
D'Arc Offshore Ltd., which should be completed in late June 2004. The drilling
of the four firm wells is expected to take around 120 to 150 days to complete
and if all four option wells are drilled, the contract could extend for around
240 to 300 days.
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, 2003, filed with the Securities and Exchange Commission.
Contact: Jim Holland
(281) 749-7804
EXHIBIT 99.2
ATWOOD OCEANICS, INC. AND SUBSIDIARIES
CONTRACT STATUS SUMMARY
AT APRIL 15, 2004
NAME OF RIG LOCATION CUSTOMER CONTRACT STATUS
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SEMISUBMERSIBLES -
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ATWOOD FALCON JAPAN JAPAN ENERGY DEVELOPMENT The rig is currently drilling the last well under its
CO. LTD. ("JED") two well contract with for JED. The drilling of the
second well should be complete in April/May 2004.
Immediately upon completing the JED contract, the rig
will be moved to China to drill one well for Husky Oil
China Ltd. Additional work is currently being pursued
in Southeast Asia to follow the Husky well.
ATWOOD HUNTER EGYPT BURULLUS GAS CO. On December 31, 2003, the rig commenced a drilling
("BURULLUS") program for Burullus which includes ten firm wells
plus options to drill six additional wells. The
drilling of the ten firm wells are expected to take
around 400 days to complete, and if all the option
wells are drilled, the contract could extend for
approximately 550 days.
ATWOOD EAGLE AUSTRALIA APACHE ENERGY LIMITED The rig is in the process of completing its one firm
("APACHE") AND well with Apache and upon completing operations on this
BHP BILLITON PETROLEUM well, the rig will immediately commence the drilling
PTY. LTD. ("BHP") program for BHP which now includes three firm wells
after BHP exercised the first of three option wells.
The drilling of these three firm wells should take
approximately 75 days to complete.
SEAHAWK MALAYSIA EXXONMOBIL EXPLORATION & EMEPMI has given written notice that they will
PRODUCTION MALAYSIA terminate the current contract upon completion of work
INC. ("EMEPMI") in progress on June 29, 2004. Additional work is
being pursued in Southeast Asia as well as other areas
of the world.
ATWOOD SOUTHERN CROSS MALAYSIA MURPHY SARAWAK OIL In March 2004 the rig commenced the Murphy drilling
COMPANY, LTD. ("MURPHY") program which includes the drilling of two firm wells
plus options to drill an additional four wells.
Drilling of the two firm wells is expected to take 45
to 60 days to complete and if all option wells are
drilled, the drilling program could extend from around
150 to 180 days.
SEASCOUT UNITED STATES The SEASCOUT was purchased in December 2000 for future
GULF OF MEXICO conversion to a tender-assist unit, similar to the
SEAHAWK. There are currently no upgrade plans and the
rig is currently coldstacked.
CANTILEVER JACK-UPS -
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VICKSBURG MALAYSIA EXXONMOBIL EXPLORATION & In October 2002, the rig commenced a drilling program
PRODUCTION MALAYSIA INC. (with an option by EMEPMI for one additional year).
("EMEPMI") The current contract will be suspended upon completion
of drilling on the current platform (estimated to be
early to mid May 2004). Immediately upon completing
its current drilling program, the rig will be moved to
Thailand to commence a drilling program for Chevron
Offshore (Thailand) Limited. This program is expected
to take approximately five months to complete, at
which time, the rig will be moved back to Malaysia
whereby EMEPMI will reinstate the rig's contract. The
EMEPMI drilling commitment will include the estimated
five months suspension period plus an additional
twelve months, for a total of seventeen months
commencing in November 2004. EMEPMI retains it right
to terminate the contract with at least 120 days
notice.
ATWOOD BEACON MALAYSIA PETRONAS CARIGALI SDN. The rig is drilling the fifth of eight wells for
BHD. ("PETRONAS") Petronas. This drilling program is expected to take
until late June 2004 to complete. Contract
opportunities for additional work following completion
of the Petronas contract are being pursued in Malaysia
as well as other areas outside of Malaysia.
SUBMERSIBLE -
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RICHMOND UNITED STATES BOIS D'ARC OFFSHORE LTD. In late March 2004, the rig commenced a drilling
GULF OF MEXICO ("BOIS") program for Bois which is expected to take
approximately 90 days to complete. Immediately upon
completion of the Bois contract, the rig will commence
a drilling program for Helis Oil & Gas Company, L.L.C.
which includes the drilling of four firm wells plus
options to drill four additional wells. The drilling
of the four firm wells is expected to take around 120
to 150 days to complete and if all four option wells
are drilled, the contract could extend for around 240
to 300 days.
MODULAR PLATFORMS -
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GOODWYN 'A' /NORTH AUSTRALIA WOODSIDE ENERGY LTD. There is currently an indefinite planned break in
RANKIN 'A' 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.