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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 23, 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 8.01 OTHER EVENTS
On March 23, 2005, the Company announced that through its wholly owned
subsidiary Atwood Oceanics Pacific Limited the ATWOOD FALCON has been awarded an
additional contract by Sarawak Shell Berhad ("Shell") to drill seven (7) firm
wells with options for six (6) additional wells off the coast of Malaysia. The
rig is currently mobilizing to Japan to drill two (2) wells for Japan Energy
Development Co., Ltd. Immediately upon completion of the Japan Energy commitment
(estimated August/September 2005), the rig will mobilize back to Malaysia to
commence the additional work for Shell, which is estimated to take approximately
nine months to drill the seven firm wells and could extend another seven to
eight months if all option wells are drilled. The contract provides for a
dayrate for the first well drilled of $53,000 to $83,300 depending upon the
water depth of the well. This is a carryover of an exercise of one remaining
option under the previous Shell contract. For the remaining six firm wells, the
dayrate will be $93,000. All option wells drilled will have a dayrate of
$113,000.
A copy of the press release announcing the contract awarded to the ATWOOD
FALCON 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 23, 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 23, 2005
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
EX - 99.1 Press Release dated March 23, 2005
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EXHIBIT EX. - 99.1
ATWOOD ANNOUNCES CONTRACT AWARDED TO THE ATWOOD FALCON
Houston, Texas
23 March 2005
FOR IMMEDIATE RELEASE
Atwood Oceanics, Inc. (Houston based International Offshore Drilling
Contractor - NYSE ATW) announced that through its wholly owned subsidiary Atwood
Oceanics Pacific Limited the ATWOOD FALCON has been awarded an additional
contract by Sarawak Shell Berhad ("Shell") to drill seven (7) firm wells with
options for six (6) additional wells off the coast of Malaysia. The rig is
currently mobilizing to Japan to drill two (2) wells for Japan Energy
Development Co., Ltd. Immediately upon completion of the Japan Energy commitment
(estimated August/September 2005), the rig will mobilize back to Malaysia to
commence the additional work for Shell, which is estimated to take approximately
nine months to drill the seven firm wells and could extend another seven to
eight months if all option wells are drilled. The contract provides for a
dayrate for the first well drilled of $53,000 to $83,300 depending upon the
water depth of the well. This is a carryover of an exercise of one remaining
option under the previous Shell contract. For the remaining six firm wells, the
dayrate will be $93,000. All option wells drilled will have a dayrate of
$113,000.
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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