EXHIBIT 99.1
ATWOOD OCEANICS, INC. AND SUBSIDIARIES FLEET STATUS REPORT
AS OF SEPTEMBER 12, 2006
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, 2005, 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.
CHANGES WILL BE HIGHLIGHTED IN YELLOW
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AVERAGE PER DAY
RATED ESTIMATED ESTIMATED OPERATING COSTS (NOT ADDITIONAL
WATER CONTRACT CONTRACT INCLUDING TAX) FOR COMMENTS
RIG NAME DEPTH LOCATION CUSTOMER END DATE DAYRATE THE THREE MONTHS
ENDED JULY 31,
2006/MONTH OF JULY
31, 2006 ONLY
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SEMISUBMERSIBLES:
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ATWOOD Australia BHP BILLITON FIRM WORK - 8 wells at $158,000 $84,000/95,000 Wells are subject to a
EAGLE PETROLEUM PTY (10 wells) 1 well at $168,000 (Operating costs were change in sequence and
("BHPB") August 2007 1 well at $150,000 high in July 2006 but
are expected to dayrate is subject to
average between some change due to
$80,000 and $85,000 currency exchange rate
for the quarter variance.
ended September 30,
2006.)
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Australia BHPB OPTIONS - $168,000 N/A Dayrate is subject to some
(3 wells) change due to currency
November 2007 exchange rate variance.
(if all three
option wells
are drilled)
-1-
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Australia ENI Spa AGIP FIRM WORK - $360,000 N/A We expect the well to take
EXPLORATION & (1 well) 40 to 45 days to complete.
PRODUCTION December 2007
DIVISION (assuming that
("ENI") all of the above
option wells
are drilled)
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Australia WOODSIDE FIRM WORK - $420,000 N/A Woodside has an option
(1 year) (which expires October
December 2008 2006) to extend the
(assuming that all of drilling program from one
the above option year to two or three
wells are drilled and years. If either the two
that Woodside does or three year option
not extend their period is selected, the
program to two or dayrate for the entire
three years) selected period will be
$405,000.
If a one year period is
selected, the dayrate will
be $420,000.
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Australia N/A N/A N/A N/A The rig could be off
dayrates for ten to
fourteen days during the
first quarter of fiscal
year 2008 for required
regulatory inspections and
maintenance.
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ATWOOD 5,000' Mauritania/ WOODSIDE FIRM WORK - $240,000 (Mauritania) $60,000/70,000 Operating costs are
HUNTER Libya May 2008 $245,000 (Libya) (Operating costs were expected to be $50,000
(The rig incurred nine higher than normal to $55,000 per day
(9) days of zero rate for the three months while working in
at the end of August and month ended July Mauritania/Libya;
2006 relating to 31, 2006 due to however, costs could
unexpected replacement higher costs incurred be higher during any
of equipment, which during the period relocation period.
reduced revenues by that the rig was
approximately $2.2 relocated from Egypt
million). to Mauritania.)
-2-
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Mauritania N/A N/A N/A N/A The rig is expected
to be off dayrate for
ten to fourteen days
during the first
quarter of fiscal
year 2007 for required
regulatory inspections
and maintenance.
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TBD WOODSIDE OPTIONS - TBD N/A
Two (2)
six-month
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ATWOOD In process Shipyard SARAWAK FIRM WORK - $90,000 $41,000/39,000 The rig is currently
FALCON of being SHELL November 2006 (for up to 85 days) undergoing an estimated
upgraded to BERHAD ("SHELL") $32 million upgrade with
5,000' Shell paying $24 million
of the costs.
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Malaysia SHELL FIRM WORK - $93,200 N/A The rig should drill two
(2 wells) wells at $93,200
January 2007 following the upgrade.
(The $24 million Shell
reimbursement will be
amortized as revenues
over the remaining firm
contract commitment
following the upgrade
(33 months) which will
increase dayrate
revenues by
approximately $24,000.)
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Malaysia SHELL FIRM WORK - $113,000 N/A
July 10, 2007
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Malaysia SHELL FIRM WORK - $160,000/ N/A Most of the work during
(2 years) $200,000 (dayrate this period is expected
July 2009 depends on water depth to be at the $160,000
of each well) dayrate level.
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Malaysia SHELL OPTION - TBD N/A
(1 year)
-3-
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ATWOOD 2,000' Italy ENI FIRM WORK - $70,000 $41,000/42,000
SOUTHERN September 2006
CROSS
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Mobilization TOREADOR FIRM WORK - $100,000 per N/A Operating costs are
to Black Sea - TURKEY October/ day plus a expected to be around
Bulgaria/ LIMITED November 2006 $300,000 fee $60,000 per day during
Turkey ("TOREADOR") mobilization and $45,000
AND MELROSE to $50,000 while working
RESOURCES ("MELROSE") in the Black Sea.
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Turkey TOREADOR FIRM WORK - $125,000 N/A TOREADOR might drill its
(3 wells) last well after MELROSE
February 2007 program is completed. If
(Assumes all three so, the dayrate for the
wells are last well will be
consecutively $135,000
drilled.)
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Bulgaria MELROSE FIRM WORK - $125,000 N/A
(3 wells)
May 2007
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Bulgaria MELROSE OPTIONS - $125,000 N/A
(2 wells)
July 2007 (if both
option wells are
drilled)
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Turkey TURKIYE FIRM WORK - $290,000 N/A
PETROLLERIA (3 wells)
A.O.("TPAO") October 2007
(assuming above
option wells are
drilled)
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Turkey TPAO OPTIONS - $320,000 N/A If TPAO exercises their
(3 wells) options, the well
January 2008 sequence for TPAO option
(assuming MELROSE wells and VANCO wells
option wells drilled could change.
and TPAO exercises
options to drill all
three option wells)
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Ukraine VANCO FIRM WORK - $305,000 N/A See above
INTERNATIONAL (1 well)
LTD. March 2008
("VANCO") (assuming MELROSE
and TPAO options
are exercised)
-4-
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Ukraine VANCO OPTIONS - $325,000 N/A See above
(1 well)
April 2008 (assuming
MELROSE, TPAO and
VANCO options are all
exercised)
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CANTILEVER JACK-UPS:
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ATWOOD 400' Vietnam HOANG FIRM WORK - $110,000 $28,000/30,000
BEACON LONG AND October 2006
HOAN VU
JOINT OPERATING
COMPANIES
("HOANG LONG")
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Mobilization GUJARAT FIRM WORK - $110,000 N/A
to Singapore STATE October 2006
PETROLEUM (Mobilization is
CORPORATION expected to take one
LTD ("GSPC") week.)
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Singapore N/A October 2006 $70,000 N/A Loss of hire insurance
(The rig is expected coverage (includes
to be in Singapore dayrate and cost of
about two weeks to tow boat during the
reattach its last leg Singapore period.)
sections.)
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Mobilization GSPC FIRM WORK - $110,000 N/A
to India November 2006
(Mobilization
is expected to
take 17 days.)
-5-
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India GSPC FIRM WORK - $113,000 N/A
(13 months)
December 2007
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India GSPC FIRM WORK - $133,500 N/A
(12 months)
December 2008
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India GSPC OPTIONS - (1 year) TBD N/A
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VICKSBURG 300' Malaysia PETROFAC FIRM WORK - $82,000 $29,000/34,000 The rig will batch drill
(MALAYSIA - (7 wells) (4 wells) the seven wells; which
PM304), LTD. October 2006 $87,000 could result in the
("PETROFAC") (3 wells) $82,000 and $87,000
dayrate occurring in
the same month.
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Mobilization CHEVRON FIRM WORK - $89,775 (95% of N/A
to Thailand OVERSEAS October 2006 operating rate)
PETROLEUM (Mobilization is
("CNEVRON") expected to take
three days.)
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Thailand CHEVRON FIRM WORK - $94,500 N/A
(8 months)
June 2007
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Thailand CHEVRON FIRM WORK - $154,000 N/A
(2 years)
June 2009
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Thailand N/A N/A N/A N/A The rig could be off
dayrate for ten to
fourteen days during
the first quarter
of fiscal year 2008
for required
regulatory
inspections and
maintenance.
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-6-
SEMISUBMERSIBLE TENDER ASSIST UNIT:
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SEAHAWK 1,800' Equatorial AMERADA HESS FIRM WORK - $51,322 (75% of $4,000/5,000 (Average The rig's operating
Guinea EQUATORIAL September 2006 operating rate) operating costs for costs in Equatorial
GUINEA INC. (Rig-up is expected the three months and Guinea are expected
("HESS") to be completed at month ended July 31, to be $45,000 to
the end of September.) 2006 are low due to $50,000 per day;
rig's upgrade and however, costs could
relocation to be higher during the
Equatorial Guinea.) inital start-up
period. Fees received
during the
mobilization period
are expected to cover
mobilization costs.
(The $5.5 million of
fees received during
and prior to the
mobilization period
along with all
mobilization costs
will be amortized
over the firm two
year period of the
contract; which is
expected to increase
per day revenues and
costs by
approximately
$7,500.)
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Equatorial HESS FIRM WORK - $68,430 N/A Contract provides for
Guinea (2 years) dayrate increases
September 2008 based upon certain
cost escalations
beginning with the
second year of the
contract.
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- - Equatorial HESS OPTIONS - $68,430 N/A Dayrate subject to
Guinea (2 years) increase due to
September 2010 contract cost
(if all four escalations.
six-month options are
exercised)
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SUBMERSIBLE:
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RICHMOND 70' US Gulf of HELIS OIL FIRM WORK - $80,000 $28,000/29,000
Mexico & GAS ("HELIS") (6 wells remaining
including the current
well) July 2007
-7-
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US Gulf of HELIS OPTIONS - TBD N/A
Mexico October/November 2007
(one option for four
additional wells)
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US Gulf of N/A N/A N/A N/A The rig could be off
Mexico dayrate for ten to
fourteen days during
the first quarter of
fiscal year 2008 for
required regulatory
inspections and
maintenance.
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MANAGEMENT CONTRACT
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NORTH N/A Australia WOODSIDE FIRM WORK - Daily margin of $5,000 The management contract
RANKIN November 2006 to $7,000 could terminate upon
'A' completion of the
current drilling
program for the NORTH
RANKIN 'A' platform.
This work is expected
to be completed in
November 2006.
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NOTE - EXPECTED TAX RATE
1) An effective tax rate of 12% to 14% is expected for the fourth
quarter of fiscal year 2006, with an effective tax rate of 4% to 6% expected for
fiscal year 2006. The effective tax rate for fiscal year 2007 is expected to be
20% to 25%. Virtually all of the Company's tax provision for fiscal year 2006
and expected tax provision for fiscal year 2007 relates to taxes in foreign
jurisdictions. Working in foreign jurisdictions with nontaxable or deemed profit
tax systems contribute to the effective tax rate being significantly less than
the United States statutory rate.
2) Other Drilling Costs in Addition to the Above Rig Costs -
PER DAY FOR THREE MONTHS ENDED JULY 2006 $18,000