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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: November 4, 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 7. EXHIBITS
EXHIBIT 99.1 CONTRACT STATUS SUMMARY AT NOVEMBER 4, 2002
ITEM 9. REGULATION FD DISCLOSURE
The ATWOOD HUNTER has been awarded two additional wells under its current
contract with Burullus Gas Company ("Burullus") and has entered into a contract
with German Oil & Gas Egypt ("German Oil") to drill one well following
completion of its current extended contract. The Company will receive an
effective dayrate of $50,000 for the two additional wells for Burullus and a
dayrate of $55,000 for the one well for German Oil. This additional contract
work is expected to take around 100 days to complete.
The ATWOOD SOUTHERN CROSS is currently in Italy completing certain upgrades
to meet Italian requirements before it can commence its contract for Eni S.P.A.
- AGIP division ("AGIP"). These upgrades are expected to cost approximately $1
million, with AGIP covering $550,000 of these costs. Except for the ten days
required to mobilize the rig to Italy, the rig has earned no dayrate revenues
since it completed its prior contract on September 6, 2002. The rig is expected
to commence the AGIP contract sometime during November 2002. The operating
dayrate for the AGIP work is $60,000, with the work estimate4d to take three to
five months to complete.
The ATWOOD FALCON has completed its work for Shell in Malaysia and has
commenced its mobilization to Australia (expected to take three weeks) to
commence two wells plus three option wells contract for Woodside Energy Ltd. In
early October 2002, the VICKSBURG completed its modifications and upgrades and
commenced its two year drilling project in Malaysia.
Additional information with respect to the Company's contract status
summary at November 4, 2002 is attached hereto as EXHIBIT 99.1, 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: November 4, 2002
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Contract Status Summary at November 4, 2002