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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: SEPTEMBER 11, 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 TO DISCLOSURE
Thus far, during the fourth quarter of fiscal year 2007, the following zero
rate days have been incurred:
VICKSBURG Two (2) zero rate days for
regulatory inspections - One(1)
zero rate day due to equipment
related issues
ATWOOD SOUTHERN CROSS Eight (8) zero rate days for
regulatory inspections
ATWOOD HUNTER One (1) zero rate day due to
equipment related issues
SEAHAWK Six (6) zero rate days due to
equipment related issues
All of the above zero rate days have reduced revenue for the fourth quarter
by approximately $3.4 million or $0.10 per diluted share.
Additional information with respect to the Company's Fleet Status Report at
September 11, 2007 is attached hereto as Exhibit 99.2. Such information is being
furnished under Regulation FD and should not be deemed to be filed under Section
19 of the Exchange Act.
ITEM 8.01 OTHER EVENTS
The RICHMOND continues to work for Helis Oil & Gas ("Helis") in the Gulf of
Mexico at a dayrate of $80,000. Upon completion of the drilling of the current
well (estimated late September 2007), Helis has a commitment to drill one more
well (estimated to take 25 days to complete). The drilling of this last well
will be deferred until sometime during the first half of fiscal year 2008.
Immediately upon completion of the drilling of its current well, the rig will be
moved to a shipyard to undergo a $14 million to $15 million life enhancement
upgrade estimated to take around 60 days to complete, which will extend the
depreciable life of the rig seven years from January 2008. Additional work for
the rig immediately following the upgrade period is currently being pursued.
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 Press Release dated September 11, 2007
EXHIBIT 99.2 Fleet Status Report at September 11, 2007
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Press Release dated September 11, 2007
99.2 Fleet Status Report at September 11, 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: September 11, 2007
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