As used herein, “we”, “us”, and “our” refers to Atwood Oceanics, Inc. and its subsidiaries, except where the context indicates otherwise. Statements contained in this Fleet Status Report, including information regarding our estimated rig availability, contract duration, future dayrates, future daily operating costs, future effective tax rates, customer or contract status 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: our dependence on the oil and gas industry; the risks involved in upgrade, repair and construction of our rigs; competition; operating risks; risks involved in foreign operations; risks associated with possible disruptions in operations due to terrorism; risks associated with a possible disruption in operations due to the war with Iraq and governmental regulations and environmental matters. A list of additional risk factors can be found in our annual report on Form 10-K for the year ended September 30, 2007, filed with the Securities and Exchange Commission. All information in this Fleet Status Report is as of the date indicated above. We undertake no duty to update the content of this Fleet Status Report or any forward-looking statement contained herein to conform the statement to actual results or to reflect changes in our expectations.
RIG NAME
| RATED WATER DEPTH | LOCATION | CUSTOMER | ESTIMATED CONTRACT END DATE | ESTIMATED
CONTRACT DAYRATE | UNAUDITED
AVERAGE PER DAY OPERATING COSTS (NOT INCLUDING TAX) FOR THE THREE MONTHS ENDED DECEMBER 31 , 2007/MONTH ENDED DECEMBER 3 1, 2007 ONLY | ADDITIONAL COMMENTS |
SEMISUBMERSIBLES: |
ATWOOD
EAGLE | 5000’ | Australia | BHP BILLITON PETROLEUM PTY (“BHPB”) | FIRM WORK – May 2008 | Approximately $170,000
| $ 108,000/$1 06 ,000 | A portion of the dayrate is subject to some change due to currency exchange rate variance. (The rig incurred five unplanned zero rate days in January 2008 due to an equipment related issue.)
|
| | Australia | ENI Spa AGIP EXPLORATION & PRODUCTION DIVISION (“ENI”)
| FIRM WORK – (1 well) July 2008
| $360,000 | N/A | We expect the well to take 40 to 45 days to complete. |
| | | Australia | WOODSIDE
ENERGY LTD
(“WOODSIDE”) | FIRM WORK – (2 years) July 2010
| $405,000 | N/A | A portion of the dayrate is subject to some change due to currency exchange rate variance.
|
| | | Australia | CHEVRON AUSTRALIA PTY. LTD. (“CHEVRON”) | FIRM WORK – (Until new semisubmersible arrives in Australia) February/March 2011
| $430,000/$450,000 | N/A | Subject to change due to cost escalation provision of contract. |
| | | Australia | CHEVRON | OPTION WORK –
Has option to continue to use rig for a mutually agreed term after the new semisubmersible arrives in Australia.
| $430,000/$450,000 | N/A | Subject to change due to cost escalation provision of contract. |
ATWOOD HUNTER | 5,000’ | Tow to Mauritania | WOODSIDE
(Reinstatement of suspended contract) | February 2008
(Estimated 21 Days) | $228,000 | $82,000/$88,000 | In January 2008, the rig incurred twenty (20) days of planned zero rate due to certain equipment upgrades.
|
| | | Mauritania | WOODSIDE | FIRM WORK August 2008 | $240,000 | N/A | |
| | TBD | N/A | N/A | N/A | N/A | The rig could incur ten (10) zero rate days in the fourth quarter of fiscal year 2009 for regulatory inspections. |
ATWOOD FALCON | 5,000’ | Malaysia | SARAWAK SHELL BERHAD (“SHELL”) | FIRM WORK – July 2009 | $160,000/
$200,000 (dayrate depends on water depth of each well)
plus approximately $24,000 of amortized per day revenue
| $ 60,000/$ 69 ,000 (The rig incurred one zero rate day in January 2008 due to an equipment related issue.) | Most of the work during this period is expected to be at the $160,000 dayrate level. (The rig could incur 5 to 10 zero rate days during the fourth quarter of fiscal year 2008 or first quarter of fiscal year 2009 due to required regulatory inspections.)
|
| | | Malaysia | SHELL | OPTION –
(1 year)
| TBD | N/A | |
ATWOOD SOUTHERN CROSS | 2,000’ | Turkey | TURKIYE PETROLLERI A.O. (“TPAO”) | FIRM WORK – March 2008
| $320,000 | $8 3,000/$10 8 ,000 | The rig incurred one zero rate day during its mobilization out of the Black Sea and could incur an additional 4 to 10 zero rate days prior to commencing the ENI contract. |
| | | Italy | ENI Spa AGIP EXPLORATION & PRODUCTION DIVISION (“ENI”) | FIRM WORK –
Mobilization (estimated ten (10) days)
March 2008
| $365,000 | N/A | |
| | | Italy | ENI | FIRM WORK –
Italian Certification (estimated ten (10) days) March/April 2008 | $395,000 | N/A | |
| | | Italy | ENI | FIRM WORK –
(2 Wells)
August 2008
| $406,000 | N/A | |
| | | Italy | ENI | OPTIONS –
(2 Wells)
November 2008
(if both wells drilled) | $406,000 | N/A | |
CANTILEVER JACK-UPS: |
ATWOOD BEACON | 400’ | India | GUJARAT STATE PETROLEUM CORPORATION LTD (“GSPC”) | FIRM WORK – (12 months) January 2009
| $133 , 500 | $4 8,000/$ 52 ,000
| The rig could incur three (3) zero rate days during the third quarter of fiscal year 2008 for required inspections. |
| | | India | GSPC | OPTIONS – (1 year)
| TBD | N/A | |
| | | | | | | | |
VICKSBURG | 300’ | Thailand | CHEVRON OVERSEAS PETROLEUM (“CHEVRON”)
| FIRM WORK – June 2009
| $154,000 | $4 8,000/$ 59 ,000
| |
SEMISUBMERSIBLE TENDER ASSIST UNIT: |
SEAHAWK | 1,800’ | Equatorial Guinea | AMERADA HESS EQUATORIAL GUINEA, INC. (“HESS”) | FIRM WORK – September 2008 | $76 , 000 (plus approximately $ 19,000 of amortized per day revenue.) | $9 4,000/$ 98 ,000 (The rig could incur three (3) to five (5) days of zero rate days during the third quarter of fiscal year 2008 for some equipment upgrades.) | Contract provides for dayrate increases based upon certain cost escalations as well as an approximately $15,000 per day reduction during periods when the rig is being relocated to a new drilling site.
|
| | | Equatorial Guinea | HESS | OPTIONS – (2 years)
September 2010
(if all four six-month options are exercised)
| $76,000 | N/A | Dayrate subject to increase due to contract cost escalations. |
SUBMERSIBLE :
| | | | | |
RICHMOND | 70’ | US Gulf of Mexico | SHIPYARD | Mid-February 2008 | | $18,000/$14,000
(Operating costs are low due to a significant portion being capitalized to the cost of the upgrade) | The rig is currently in a shipyard undergoing an approximate $17 million of life enhancing upgrades, which currently is expected to take until late February 2008 to complete. |
| | | US Gulf of Mexico | HELIS OIL & GAS | FIRM WORK -
March 2008 (This one well commitment could be deferred) | $80,000 for approximately 30 days/$65,000 thereafter | N/A | |
| | | US Gulf of Mexico | CONTANGO OPERATIONS INC. (“CONTANGO”) | FIRM WORK –
(2 Wells)
July 2008 | $65,000 | N/A | |
| | | US Gulf of Mexico | CONTANGO | OPTION –
(1 Well)
September 2008 | $65,000 | N/A | |
