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 Report (Date of earliest event reported): November 10, 2015
ATWOOD OCEANICS, INC.
(Exact name of registrant as specified in its charter)
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Texas | 1-13167 | 74-1611874 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
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15011 Katy Freeway, Suite 800, Houston, Texas | 77094 |
(Address of principal executive offices) | (Zip Code) |
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Registrant’s telephone number, including area code: (281) 749-7800
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| N/A | |
| (Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report) | |
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:
¨ 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 7.01 REGULATON FD DISCLOSURE
On November 10, 2015, the Company issued a press release announcing the receipt of a letter for exclusive negotiations regarding one of its drillships under construction. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
On November 10, 2015, the Company also issued a press release announcing a contract extension for the Atwood Advantage. The press release is furnished as Exhibit 99.2 to this Current Report on Form 8-K.
The information disclosed under this Item 7.01, including Exhibits 99.1 and 99.2, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to the liabilities of that section and such information, including Exhibits 99.1 and 99.2, shall not be incorporated by reference into any filing under the Exchange Act of the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such a filing.
SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
The exhibits listed below are furnished pursuant to Item 9.01 of this Form 8-K.
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99.1 | Press Release dated November 10, 2015, regarding a letter for exclusive negotiations |
99.2 | Press Release dated November 10, 2015, regarding a contract extension for the Atwood Advantage |
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.
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| ATWOOD OCEANICS, INC. |
| (Registrant) |
Date: November 10, 2015 |
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| /s/ Mark W. Smith |
| Mark W. Smith |
| Chief Financial Officer |
INDEX TO EXHIBIT
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EXHIBIT NO | DESCRIPTION |
99.1 | Press Release dated November 10, 2015, regarding a letter for exclusive negotiations |
99.2 | Press Release dated November 10, 2015, regarding a contract extension for the Atwood Advantage |
Exhibit 99.1
ATWOOD OCEANICS ANNOUNCES THAT IS HAS BEEN CHOSEN FOR EXCLUSIVE NEGOTIATIONS FOR ONE OF ITS DRILLSHIPS UNDER CONSTRUCTION
FOR IMMEDIATE RELEASE
HOUSTON, November 10, 2015-- Atwood Oceanics, Inc. (NYSE: ATW) announced today that one of its subsidiaries has received a letter confirming that it has been chosen to enter exclusive negotiations with an undisclosed operator to conclude agreement on a drilling program offshore Brazil commencing in the third quarter of 2017. The letter specifies that either the Atwood Admiral or Atwood Archer, ultra-deepwater drillships currently under construction at the Daewoo Shipbuilding & Marine Engineering Co., Ltd yard in South Korea, would be contracted to drill the program. The letter specifies a number of contractual items that have been agreed by the parties, including the commercial rates, well count, minimum term length, and rig acceptance criteria.
Atwood Oceanics, Inc. is a leading offshore drilling contractor engaged in the drilling and completion of exploratory and developmental wells for the global oil and gas industry. The Company currently owns 11 mobile offshore drilling units and is constructing two ultra-deepwater drillships. The Company was founded in 1968 and is headquartered in Houston, Texas. Atwood Oceanics, Inc. common stock is traded on the New York Stock Exchange under the symbol "ATW."
As part of our ongoing commitment to our shareholders, Atwood Oceanics uses a variety of Social Networks sites to disseminate company information. For a full list of the official Social Media pages for Atwood Oceanics, please visit the Social Media Disclaimer page of our IR site at: http://ir.atwd.com/GenPage.aspx?IID=4010374&GKP=210376
Contact: Mark W. Smith
Senior Vice President and CFO
(281) 749-7840
Forward Looking Statements
Statements contained in this press release with respect to the future, including information regarding the letter for exclusive negotiations, are forward-looking statements. These statements reflect management's reasonable judgment with respect to future events. Forward-looking statements are subject to numerous risks, uncertainties and assumptions and actual results could differ materially from those anticipated as a result of various factors including: uncertainties related to the level of activity in offshore oil and gas exploration and development; oil and gas prices; competition and market conditions in the contract drilling industry; our ability to enter into and the terms of future contracts; possible cancelation or suspension of drilling contracts; the availability of qualified personnel; labor relations; operating hazards and risks; terrorism and political and other uncertainties inherent in foreign operations (including risk of war, civil disturbances, seizure or damage to equipment and exchange and currency fluctuations); the impact of governmental and industry laws and regulations; and environmental matters. These factors and others are described and discussed in our most recently filed annual report on Form 10-K, in our Forms 10-Q for subsequent periods and in our other filings with the Securities and Exchange Commission which are available on the SEC's website at www.sec.gov. Each forward looking statement speaks only as of the date of the particular statement and we undertake no duty to update the content of this press release or any forward-looking statement contained herein to conform the statement to actual results or to reflect changes in our expectations.
Exhibit 99.2
ATWOOD OCEANICS ANNOUNCES CONTRACT EXTENSION
FOR THE ATWOOD ADVANTAGE
FOR IMMEDIATE RELEASE
HOUSTON, November 10, 2015 - Atwood Oceanics, Inc. (NYSE: ATW) announced today that one of its subsidiaries agreed to an extension and rate adjustment to its existing contract with Noble Energy, Inc. for the ultra-deepwater rig, the Atwood Advantage, effective November 9, 2015. The agreement is to extend the contract for the purposes of a plugging and abandoning four well program in the Gulf of Mexico that has an estimated duration of one hundred and twenty (120) days during the contract term and is anticipated to occur in 2016. This extension adjusts the operating day rate to approximately $240,000 per day only during the four plug and abandon wells and makes the new contract expiry date approximately August 2017.
Atwood Oceanics, Inc. is a leading offshore drilling contractor engaged in the drilling and completion of exploratory and developmental wells for the global oil and gas industry. The Company currently owns 11 mobile offshore drilling units and is constructing two ultra-deepwater drillships. The Company was founded in 1968 and is headquartered in Houston, Texas. Atwood Oceanics, Inc. common stock is traded on the New York Stock Exchange under the symbol "ATW."
As part of our ongoing commitment to our shareholders, Atwood Oceanics uses a variety of Social Networks sites to disseminate company information. For a full list of the official Social Media pages for Atwood Oceanics, please visit the Social Media Disclaimer page of our IR site at: http://ir.atwd.com/GenPage.aspx?IID=4010374&GKP=210376
Contact: Mark W. Smith
Senior Vice President and CFO
(281) 749-7840
Forward-Looking Statements
Statements contained in this press release with respect to the future, including the day rate and date through which the contract extends, are forward-looking statements. These statements reflect management's reasonable judgment with respect to future events. Forward-looking statements are subject to numerous risks, uncertainties and assumptions and actual results could differ materially from those anticipated as a result of various factors including: uncertainties related to the level of activity in offshore oil and gas exploration and development; oil and gas prices; competition and market conditions in the contract drilling industry; our ability to enter into and the terms of future contracts; possible cancelation or suspension of drilling contracts; the availability of qualified personnel; labor relations; operating hazards and risks; terrorism and political and other uncertainties inherent in foreign operations (including risk of war, civil disturbances, seizure or damage to equipment and exchange and currency fluctuations); the impact of governmental and industry laws and regulations; and environmental matters. These factors and others are described and discussed in our most recently filed annual report on Form 10-K, in our Forms 10-Q for subsequent periods and in our other filings with the Securities and Exchange Commission which are available on the SEC's website at www.sec.gov. Each forward looking statement speaks only as of the date of the particular statement and we undertake no duty to update the content of this press release or any forward-looking statement contained herein to conform the statement to actual results or to reflect changes in our expectations.
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