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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: July 2, 2007
ATWOOD OCEANICS, INC.
(Exact name of registrant as specified in its charter)
COMMISSION FILE NUMBER 1-13167
TEXAS
(State or other jurisdiction of incorporation or organization)
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
The Company's Fleet Status Report at July 2, 2007 is attached hereto as Exhibit
99.1. Such information is being furnished under Regulation FD and should not be
deemed to be filed under Section 18 of the Exchange Act. The Fleet Status Report
has also been posted on the Company's website at www.atwd.com. All changes from
the Company's last Fleet Status Report dated June 6, 2007 are highlighted in
yellow on the Company's website.
During May and June 2007, the SEAHAWK was relocated to another Amerada Hess
Equatorial Guinea, Inc. drilling site at a moving dayrate which was
approximately $15,000 less than its operating dayrate of approximately $71,900.
Due to this moving period, revenues for the SEAHAWK for the quarter ending June
30, 2007 was reduced by approximately $500,000 which, with some fleet zero rate
days incurred in the quarter reducing revenues also by another approximately
$500,000, will have a combined negative impact on earnings per share of
approximately $0.03 for the quarter.
The ATWOOD SOUTHERN CROSS commenced working at the end of June 2007 under its
four (4) firm well commitment with Turkiye Petrolleri A. O. at a dayrate of
$290,000 for the first three (3) wells and $320,000 for the last well. The
VICKSBURG commenced working on June 20, 2007 under its two-year commitment with
Chevron Offshore (Thailand) Ltd. at an operating dayrate of $154,000.
Due to the ATWOOD EAGLE continuing to carry extra personnel for training and
development purposes and incurring some additional repairs and maintenance
costs, we now expect its average operating costs for the quarter ended June 30,
2007 to be between $105,000 and $110,000 compared to our guidance of between
$95,000 and $105,000. The ATWOOD HUNTER'S average operating costs for the
quarter ended June 30, 2007 are now expected to be between $75,000 and $80,000
compared to guidance of $65,000 to $75,000. Average operating costs for the
ATWOOD FALCON, ATWOOD SOUTHERN CROSS, ATWOOD BEACON, VICKSBURG, SEAHAWK and
RICHMOND are all expected to be within guidance.
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 including; 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's annual report on Form 10-K for the year ended September
30, 2006, filed with the Securities and Exchange Commission.
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ITEM 9.01 EXHIBITS
EXHIBIT 99.1 FLEET STATUS REPORT JULY 2, 2007
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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: July 2, 2007
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Fleet Status Report at July 2, 2007
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