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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: October 24, 2005
ATWOOD OCEANICS, INC.
(Exact name of registrant as specified in its charter)
COMMISSION FILE NUMBER 1-13167
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 8.01 OTHER EVENTS
On October 24, 2005, the Company announced that on October 21, 2005, it
sold its spare 15,000 P.S.I. BOP stack to a Norwegian company for approximately
$15 million, which will result in an after tax gain of approximately $6 million
or $.38 per diluted share. The Company completed this stack in 2003 for a
possible future contractual requirement; however, the stack has never been
utilized and the Company has no current contractual requirements for the use of
this stack.
A copy of the press release announcing the sale of the 15,000 P.S.I. BOP
Stack is filed with the Form 8-K as Exhibit 99.1 and is incorporated herein by
reference.
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 the construction and repair 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 war; 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, 2004, filed with the Securities and Exchange Commission.
ITEM 9.01 EXHIBITS
EXHIBIT NO.
EX-99.1 Press Release dated October 24, 2005
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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: October 24, 2005
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
EX - 99.1 Press Release dated October 24, 2005
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EXHIBIT EX. - 99.1
ATWOOD OCEANICS ANNOUNCES SALE OF ITS 15,000 P.S.I. BOP STACK
Houston, Texas
24 October 2005
FOR IMMEDIATE RELEASE
Atwood Oceanics, Inc. (a Houston based International Offshore Drilling
Contractor - NYSE ATW) announced today that on October 21, 2005, it sold its
spare 15,000 P.S.I. BOP stack to a Norwegian company for approximately $15
million, which will result in an after tax gain of approximately $6 million or
$.38 per diluted share. The Company completed this stack in 2003 for a possible
future contractual requirement; however, the stack has never been utilized and
the Company has no current contractual requirements for the use of this stack.
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 the construction and repair 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 war; 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, 2004, filed with the Securities and Exchange Commission.
Contact: Jim Holland
(281) 749-7804
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