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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: May 15, 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.)
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ITEM 7. EXHIBITS
EXHIBIT 99.1 CONTRACT STATUS SUMMARY AT MAY 15, 2003
ITEM 9. REGULATION FD DISCLOSURE
The ATWOOD SOUTHERN CROSS has completed its contract with ENI S.p.A. and is
preparing to commence a contract with Edison Gas S.p.A. ("Edison") off the coast
of Italy. The contract with Edison provides for work on three plug and
abandonment wells which is expected to take 30 to 60 days to complete. The
contract provides for a dayrate of $46,000. Contract opportunities for
additional work following completion of the Edison wells are being pursued in
the Mediterranean Area.
The ATWOOD FALCON is currently drilling its seventh well of an eight well
contract with Woodside. The contract is estimated to be completed in June 2003.
Following completion, the rig will be moved to Malaysia to drill one well for
Sarawak Shell and one well for Murphy Sabah Oil Co., Ltd. ("Murphy"). The
drilling of the wells in Malaysia should commence around July 1, 2003 and should
take approximately 100 days to complete, with a dayrate of $83,300. Murphy has
an option to drill one additional well at a later date.
The ATWOOD HUNTER has completed its work in Egypt and is preparing to drill
one well for Samedan, Mediterranean Sea off the coast of Israel. This well is
estimated to take around 70 days to complete and will have a dayrate of $80,000.
Additional information with respect to the Company's Contract Status
Summary May 15, 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: May 15, 2003
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Contract Status Summary at May 15, 2003
EXHIBIT 99.1
ATWOOD OCEANICS, INC. AND SUBSIDIARIES
CONTRACT STATUS SUMMARY
AT MAY 15, 2003
NAME OF RIG LOCATION CUSTOMER CONTRACT STATUS
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SEMISUBMERSIBLES -
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ATWOOD FALCON AUSTRALIA WOODSIDE ENERGY LTD. The rig is drilling its seventh well of an
("WOODSIDE") eight well contract with Woodside. The
contract is estimated to be complete in June
2003. Following completion, the rig will be
moved to Malaysia to drill one well for
Sarawak Shell and one well for Murphy Sabah
Oil Co. The drilling of these wells should
commence around July 1, 2003 and should take
approximately 100 days to complete. Murphy
has an option to drill one additional well at
a later date.
ATWOOD HUNTER ISRAEL SAMEDAN, MEDITERRANEAN The rig is preparing to drill one well for
SEA Samedan, Mediterranean Sea ("Samedan"). This
well is estimated to take 70 days to
complete, with Samedan having an option to
drill one additional well at a later date.
ATWOOD EAGLE ANGOLA ESSO EXPLORATION ANGOLA The rig is drilling the second 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
mid August 2003.
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 EDISON GAS S.p.A. The rig is preparing to commence a contract
SEA ("EDISON") with EDISON to work on three plug and
abandonment wells which is expected to take
30 to 60 days to complete. Contract
opportunities for additional work following
completion of the EDISON wells are being
pursued in the Mediterranean Area.
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
("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 construction of the ATWOOD BEACON
UNDER continues on schedule. The shipyard portion
CONSTRUCTION of the construction should be completed by
May 2003; additional equipment commissioning
and testing may be carried out until July
2003 depending on the schedule for commencing
operations. The Company is in discussion for
a short-term contract for the rig to commence
operation in July/August 2003.
SUBMERSIBLE -
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RICHMOND UNITED STATES OCEAN ENERGY, INC./DEVON The rig is currently drilling the first of
GULF OF MEXICO two firm wells for Ocean Energy, Inc./Devon.
These two wells should take until the end of
June 2003 to complete. Contract
opportunities for additional work following
completion of the rig's current contract are
being pursued in the Gulf of Mexico.
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.