Atwood Oceanics Inc - Current report filing (8-K)
May 08 2008 - 5:20PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
WASHINGTON, D.C.
20549
____________
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 8, 2008
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
____________
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))
ITEM
2.02 RESULTS OF OPERATIONS AND FINANCIAL
CONDITION
On May 8, 2008, the Company announced its
earnings for the Fiscal Year 2008 Second Quarter ended March 31, 2008. A copy of the press
release summarizing these earnings is filed with this Form 8-K as Exhibit 99.1 and is
incorporated herein by reference.
Additional information with respect to the
Company’s
c
onsolidated
s
tatements of
o
perations for the three months
and six months
ended
March 31, 2008 and 2007,
an analysis of
r
evenues and
contract
d
rilling
c
osts for the three months
and six months
ended
March 31, 2008 and 2007 and condensed
consolidated balance sheets at March 31, 2008 and September 30, 2007 are attached
her
eto as Exhibits 99.2, 99.3,
and 99.4
respectively, which are being furnished;
however, should not be deemed to be filed
under Section 18 of the Exchange
Act.
ITEM 7.01 REGULATION FD
DISCLOSURE
Additional information with respect to the
Company’s Fleet Status Report at May 8, 2008 is attached hereto as Exhibit 99.5. 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.
The ATWOOD EAGLE is preparing to commence its
one-well drilling program for ENI Spa AGIP Exploration & Production Division
(“ENI”) which is estimated to take 45 days to complete at a dayrate of
$360,000. Following completion of the ENI drilling program (estimated mid to late June
2008), the rig will commence drilling under its two-year commitment with Woodside Energy
Limited at a dayrate of $405,000. The ATWOOD SOUTHERN CROSS is preparing to commence
drilling a two-well program for ENI offshore Italy. This drilling program is expected to
take until August/September 2008 to complete with a dayrate of $406,000 plus estimated
daily equipment rental fee of $20,000.
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, 2007, filed with the Securities
and Exchange Commission.
ITEM 9.01
EXHIBITS
EXHIBIT 99.1 PRESS RELEASE DATED MAY 8, 2008
EXHIBIT 99.2 CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE AND SIX MONTHS ENDED
MARCH 31, 2008 AND 2007
EXHIBIT 99.3 ANALYSIS OF REVENUES AND
CONTRACT DRILLING COSTS FOR
THE THREE MONTHS AND SIX MONTHS ENDED MARCH 31, 2008
EXHIBIT 99.4
CONDENSED
CONSOLIDATED BALANCE SHEETS AT
MARCH
31
,
200
8
AND
SEPTEMBER 30, 2007
EXHIBIT
99.
5
FLEET STATUS REPORT AT
MAY 8,
2008
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 8, 2008
EXHIBIT INDEX
EXHIBIT
NO.
DESCRIPTION
|
99.1
|
Press Release
dated
May 8, 2008
|
99.2 Consolidated
Statements of Operations for the Three Months and Six Months ended March 31, 2008 and
2007
99.3 Analysis
of Revenues and Drilling Costs for the Three Months and Six Months ended March 31,
2008
99.4 Condensed
Consolidated Balance Sheets at March 31, 2008 and September 30, 2007
99.5 Fleet
Status Report at May 8, 2008
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