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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 24, 2002
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
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ITEM 5. OTHER EVENTS
On May 24, 2002, the Company announced that Woodside Energy Ltd. has
awarded the ATWOOD FALCON a contract to drill two firm wells plus options to
drill three additional wells off the coast of Australia. A copy of the press
release announcing the contract award is filed with the Form 8-K as Exhibit 99.1
and is incorporated herein by reference.
ITEM 7. EXHIBITS
EXHIBIT 99.1 PRESS RELEASE DATED MAY 24, 2002
EXHIBIT 99.2CONTRACT STATUS SUMMARY AT MAY 24, 2002
ITEM 9. REGULATION FD DISCLOSURE
The RICHMOND commenced in early May 2002 drilling its one-well plus
one-well option program for El Paso Production Oil & Gas Company which could
take 70 to 90 days to complete.
Additional information with respect to the Company's contract status
summary at May 24, 2002 is attached hereto as EXHIBIT 99.2, 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 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, 2001, 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 24, 2002
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Press Release Dated May 24, 2002
99.2 Contract Status Summary at May 24, 2002
EXHIBIT 99.1
HOUSTON, TEXAS
24 MAY 2002
FOR IMMEDIATE RELEASE:
ATWOOD OCEANICS, INC. (A HOUSTON BASED INTERNATIONAL OFFSHORE DRILLING
CONTRACTOR - NYSE: ATW) ANNOUNCED TODAY THAT WOODSIDE ENERGY LTD ("WOODSIDE")
HAS AWARDED THE ATWOOD FALCON A CONTRACT TO DRILL TWO (2) WELLS PLUS OPTIONS FOR
WOODSIDE TO DRILL UP TO THREE (3) ADDITIONAL WELLS OFF THE NORTHWEST COAST OF
AUSTRALIA. THE ATWOOD FALCON IS CURRENTLY DRILLING A FIVE-WELL PROGRAM FOR
SARAWAK SHELL BERHAD AND SABAH SHELL PETROLEUM COMPANY LTD OF THE COAST OF
MALAYSIA. IMMEDIATELY UPON COMPLETION OF ITS CURRENT CONTRACT (ESTIMATED OCTOBER
2002), THE RIG WILL BE MOVED TO AUSTRALIA TO COMMENCE THE DRILLING PROGRAM FOR
WOODSIDE WHICH COULD EXTEND FOUR TO FIVE MONTHS IF ALL FIVE WELLS ARE DRILLED.
THE CONTRACT PROVIDES FOR A DAYRATE RANGING FROM $89,100 TO $108,600 DEPENDING
UPON THE WATER DEPTH OF EACH WELL DRILLED, WITH MOBILIZATION AND DEMOBILIZATION
PAYMENTS RANGING FROM $1 MILLION TO $1.25 MILLION DEPENDING UPON THE NUMBER OF
WELLS DRILLED.
CONTACT: JIM HOLLAND
281-749-7804
EXHIBIT 99.2
EXHIBIT 99.5
ATWOOD OCEANICS, INC. AND SUBSIDIARIES
CONTRACT STATUS SUMMARY
AT MAY 24, 2002
NAME OF RIG LOCATION CUSTOMER CONTRACT STATUS
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SEMISUBMERSIBLES -
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ATWOOD FALCON MALAYSIA SARAWAK SHELL The rig is conducting a drilling program in Malaysia for Sarawak
BERHAD/SABAH Shell Berhad and Sabah Shell Petroleum Company Ltd. ("Shell").
SHELL The drilling contract includes five firm wells plus provides Shell
PETROLEUM with options to drill five additional wells. Immediately upon
COMPANY LTD. completion of the Shell contract commitment for its firm wells
(estimated October 2002), the rig will be moved to Australia to
commence a program providing for the drilling of two wells plus
options to drill three additional wells for Woodside Energy Ltd.
ATWOOD HUNTER EGYPT BURULLUS GAS The rig commenced in December 2001 an eleven-well drilling program
COMPANY estimated to take between 280 and 340 days to complete.
ATWOOD EAGLE SHIPYARD IN GREECE The rig is currently undergoing an approximate $90 million water-depth
upgrade and refurbishment. The upgrade should take approximately six
months shipyard time to complete (October/November 2002). Contract
opportunities to commence following the rig's upgrade are being
pursued internationally.
SEAHAWK MALAYSIA EXXONMOBIL The rig's current contract terminates in December 2003, with an
EXLPORATION & option for the Operator to extend.
PRODUCTION
MALAYSIA INC.
ATWOOD SOUTHERN CROSS MEDITERRANEAN SAMEDAM, The rig has contractual commitments in Israel which should keep the
SEA MEDITERRANEAN SEA rig employed into the fourth quarter of fiscal 2002.
SEASCOUT UNITED STATES The SEASCOUT was purchased in December 2000 for future conversion to
GULF OF MEXICO a tender-assist unit, similar to the SEAHAWK, once an acceptable
contract opportunity is secured.
CANTILEVER JACK-UPS -
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VICKSBURG MALAYSIA - CARIGALI- The rig commenced a drilling program in October 2001 which could
THAILAND TRITON include up to 31 wells (completion of which should extend into fiscal
JOINT OPERATING 2003). CTOC has the option of canceling the contract at any time
DEVELOPMENT after giving a sixty-day written notice of termination.
AREA
ATWOOD BEACON UNDER CONSTRUCTION The Company expects the construction of this ultra-premium jack-up
drilling unit to be completed in June 2003.
SUBMERSIBLE -
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RICHMOND UNITED STATES EL PASO The rig commenced drilling in May 2002 a one-well (estimated to
GULF OF MEXICO PRODUCTION OIL take between 70 and 90 days to complete) plus an one-option well
& GAS program in the US Gulf of Mexico.
MODULAR PLATFORMS -
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RIG-200 AUSTRALIA The rig is available for contract since it became idle in June 1999.
MANAGEMENT/LABOR CONTRACTS
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GOODWYN 'A'/
NORTH RANKIN 'A AUSTRALIA WOODSIDE ENERGY There is currently an indefinite planned break in drilling activity
LTD. for the two client-owned rigs. The Company is involved in maintenance
of the two rigs for future drilling programs.