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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: June 26, 2006
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 June 26, 2006, Atwood Oceanics, Inc. (NYSE: ATW), announced that the
ATWOOD SOUTHERN CROSS, owned and operated by its wholly- owned subsidiary,
Atwood Oceanics Pacific Limited, has been awarded a contract by Vanco
International Ltd. ("VANCO") to drill one (1) firm well with an option to drill
one (1) additional well in the Black Sea off the coast of Ukraine. Revenues from
the contract are estimated at US$13 Million (based upon the single firm well
plus some rig mobilization time totaling approximately 43 days) or US$26 Million
if the option well is drilled. VANCO will, in addition, provide a tow vessel
during the rig mobilization phase of the project. The drilling of the one (1)
firm well is estimated to take around 40 days to complete and if the one (1)
option well is drilled, the program could extend another 40 days. This contract
will commence immediately upon the rig completing its current commitments in the
Black Sea for Melrose Resources, Toreador Turkey Limited and Turkiye Petrolleri
A.O. (the VANCO contract may commence as early as August 2007 or as late as
January 2008, depending upon the exercise of previous option wells).
A copy of the press release announcing the ATWOOD SOUTHERN CROSS contract
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 June 26, 2006
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, 2005, filed with the Securities and Exchange Commission.
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
EX - 99.1 Press Release dated June 26, 2006
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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: June 26, 2006
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EXHIBIT EX. - 99.1
ATWOOD ANNOUNCES CONTRACT FOR
ATWOOD SOUTHERN CROSS
Houston, Texas
26 June 2006
FOR IMMEDIATE RELEASE
On June 26, 2006, Atwood Oceanics, Inc. (NYSE: ATW), announced that the
ATWOOD SOUTHERN CROSS, owned and operated by its wholly- owned subsidiary,
Atwood Oceanics Pacific Limited, has been awarded a contract by Vanco
International Ltd. ("VANCO") to drill one (1) firm well with an option to drill
one (1) additional well in the Black Sea off the coast of Ukraine. Revenues from
the contract are estimated at US$13 Million (based upon the single firm well
plus some rig mobilization time totaling approximately 43 days) or US$26 Million
if the option well is drilled. VANCO will, in addition, provide a tow vessel
during the rig mobilization phase of the project. The drilling of the one (1)
firm well is estimated to take around 40 days to complete and if the one (1)
option well is drilled, the program could extend another 40 days. This contract
will commence immediately upon the rig completing its current commitments in the
Black Sea for Melrose Resources, Toreador Turkey Limited and Turkiye Petrolleri
A.O. (the VANCO contract may commence as early as August 2007 or as late as
January 2008, depending upon the exercise of previous option wells).
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, 2005, filed with the Securities and Exchange Commission.
Contact: Jim Holland
(281) 749-7804
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