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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: March 11, 2005
ATWOOD OCEANICS, INC.
(Exact name of registrant as specified in its charter)
COMMISSION FILE NUMBER 1-13167
Internal Revenue Service - Employer Identification No. 74-1611874
15835 Park Ten Place Drive, Houston, Texas, 77084
(281) 749-7800
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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ITEM 7.01 REGULATION FD DISCLOSURE
In our conference call on January 27, 2005, we advised that we were, at
that time, comfortable with estimated diluted earnings per share for the quarter
ending March 31, 2005 of $.20. This estimate was based upon the SEAHAWK having
30 days of idle time during the quarter and the ATWOOD FALCON commencing is
mobilization to Japan in February 2005. It is now expected that the SEAHAWK will
only have approximately 15 days of idle time in the second fiscal quarter of
2005 with 30 days at zero rate in the third quarter. The ATWOOD FALCON will
commence its approximate three week mobilization to Japan around mid-March 2005.
With the SEAHAWK having less idle time in the second quarter and the ATWOOD
FALCON working in Malaysia until mid-March 2005, we now feel comfortable with
estimated diluted earnings per share for the second quarter of fiscal year 2005
of $.30.
ITEM 8.01 OTHER EVENTS
On March 11, 2005, the Company announced that the SEAHAWK has been awarded
an additional contract by Sarawak Shell Berhad/Sabah Shell Petroleum Company
Limited ("Shell") to drill two (2) to three (3) wells on one platform and two
(2) wells on a second platform which is estimated to take six to eight months to
complete. The contract provides Shell with an option to drill up to six months
of additional work; however, the Company retains the right to not consent to any
additional work with a well spud date after February 15, 2006. The contract
provides for a $50,000 operating dayrate, with a fee of $289,170 payable when
the rig was moved in March 2005 to its current dockside location in Malaysia and
a fee of $315,000 payable when the rig arrives at the first platform location in
May 2005. The rig will be off dayrate for approximately 45 days between
completion of the prior contract with Shell and the commencement of this
additional contract with Shell. In February/March 2006, the Company expects to
commence preparing the SEAHAWK for its contract commitment with Amerada Hess
Equatorial Guinea, Inc. off the coast of Equatorial Guinea.
A copy of the press release announcing the contract awarded to the SEAHAWK
is filed with the Form 8-K as Exhibit 99.1 and is incorporated herein by
reference.
ITEM 9.01 EXHIBITS
EXHIBIT NO.
EX-99.1 Press Release dated March 11, 2005
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 and repair 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, 2004, filed with the Securities and Exchange Commission.
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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: March 11, 2005
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
EX - 99.1 Press Release dated March 11, 2005
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EXHIBIT EX. - 99.1
ATWOOD ANNOUNCES CONTRACT AWARDED TO THE SEAHAWK
Houston, Texas
11 March 2005
FOR IMMEDIATE RELEASE
Atwood Oceanics, Inc. (Houston based International Offshore Drilling
Contractor - NYSE ATW) announced that the SEAHAWK has been awarded an additional
contract by Sarawak Shell Berhad/Sabah Shell Petroleum Company Limited ("Shell")
to drill two (2) to three (3) wells on one platform and two (2) wells on a
second platform which is estimated to take six to eight months to complete. The
contract provides Shell with an option to drill up to six months of additional
work; however, the Company retains the right to not consent to any additional
work with a well spud date after February 15, 2006. The contract provides for a
$50,000 operating dayrate, with a fee of $289,170 payable when the rig was moved
in March 2005 to its current dockside location in Malaysia and a fee of $315,000
payable when the rig arrives at the first platform location in May 2005. The rig
will be off dayrate for approximately 45 days between completion of the prior
contract with Shell and the commencement of this additional contract with Shell.
In February/March 2006, the Company expects to commence preparing the SEAHAWK
for its contract commitment with Amerada Hess Equatorial Guinea, Inc. off the
coast of Equatorial Guinea.
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, 2004, filed with the Securities and Exchange Commission.
Contact: Jim Holland
(281) 749-7804
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