EXHIBIT 99.1
ATWOOD OCEANICS, INC. AND SUBSIDIARIES FLEET STATUS REPORT
AS OF FEBRUARY 1, 2007
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, 2006, 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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UNAUDITED
ESTIMATED AVERAGE PER
RATED ESTIMATED CONTRACT DAY OPERATING ADDITIONAL
RIG NAME WATER LOCATION CUSTOMER CONTRACT END DATE DAYRATE COSTS (NOT COMMENTS
DEPTH INCLUDING
TAX) FOR THE
THREE MONTHS
ENDED
DECEMBER 31,
2006/MONTH
ENDED
DECEMBER 31,
2006 ONLY
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SEMISUBMERSIBLES:
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ATWOOD 5000' Australia BHP BILLITON FIRM WORK - 5 wells at $86,000/91,000 Wells are
EAGLE PETROLEUM PTY (7 wells $158,000 subject to a
("BHPB") remaining 1 well at change in
including $168,000 sequence and
current 1 well at a portion of
operation) $150,000 the dayrate
October 2007 is subject
to some
change due
to currency
exchange
rate
variance.
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Australia BHPB OPTIONS - $168,000 N/A A portion of
(3 wells) the dayrate
December 2007 is subject
(if all three to some
option wells are change due
drilled) to currency
exchange
rate
variance.
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1
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Australia ENI Spa AGIP FIRM WORK - $360,000 N/A We expect
EXPLORATION & (1 well) the well to
PRODUCTION January 2008 take 40 to
DIVISION ("ENI") (assuming that 45 days to
all of the above complete.
option wells are
drilled)
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Australia WOODSIDE FIRM WORK - $405,000 N/A A portion of
ENERGY LTD (2 years) the dayrate
January 2010 is subject
(assuming that to some
all of the above change due
option wells are to currency
drilled) exchange
rate
variance.
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Australia 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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ATWOOD HUNTER 5,000' Mauritania/ WOODSIDE FIRM WORK - $240,000 $65,000/81,000 The rig was
Libya April/May 2008 (Mauritania) off dayrate
$245,000 for fourteen
(Libya) days during
December
2006 for
required
regulatory
inspections
and
maintenance.
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TBD WOODSIDE OPTIONS - TBD N/A
Two (2)
six-month
options. April 2009,
if exercised at
negotiated market
rate.
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2
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ATWOOD FALCON 5,000' Malaysia SARAWAK SHELL FIRM WORK - $113,000 $95,000/$96,000 (The $24
BERHAD ("SHELL") July 10, 2007 (Due to million
expensing Shell
certain costs reimbursement
incurred in is being
the shipyard, amortized as
operating revenues
costs were over the
high for the remaining
month and firm
three months contract
ended commitment
December 31, following
2006. the upgrade
(32 months)
which will
increase
dayrate
revenues by
approximately
$24,000.)
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Malaysia SHELL FIRM WORK - $160,000/ N/A Most of the
(2 years) $200,000 work during
July 2009 (dayrate this period
depends on is expected
water depth to be at the
of each well) $160,000
dayrate
level.
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Malaysia SHELL OPTION - TBD N/A
(1 year)
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ATWOOD 2,000' Turkey TOREADOR TURKEY FIRM WORK - $125,000 $57,000/$52,000 It now
SOUTHERN CROSS LIMITED (2 wells appears that
("TOREADOR") remaining TOREADOR
including will drill
current well) all of its
March 2007 wells before
(subject to the MELROSE
TOREADOR program. If that
drilling its occurs, the
third well prior dayrate for the
to commencing last well will be
the MELROSE $135,000.
work.)
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Bulgaria MELROSE FIRM WORK - $125,000 N/A
RESOURCES (3 wells)
("MELROSE") June 2007
(subject to
TOREADOR
drilling its
third well prior
to commencing
the MELROSE
work.)
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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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3
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Turkey TURKIYE FIRM WORK - $290,000 N/A
PETROLLERI A.O. (3 wells)
("TPAO") October 2007
(assuming above
option wells are
drilled)
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Turkey TPAO OPTIONS - $320,000 N/A If TPAO
(3 wells) exercises
January 2008 their
(assuming options, the
MELROSE option well
wells drilled sequence for
and TPAO TPAO option
exercises wells and
options to drill VANCO wells
all three option could change.
wells)
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Ukraine VANCO FIRM WORK - $305,000 N/A See above
INTERNATIONAL (1 well)
LTD. ("VANCO") March 2008
(assuming MELROSE and
TPAO options are
exercised)
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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 BEACON 400' India GUJARAT STATE FIRM WORK - $113,000 $44,000/$52,000
PETROLEUM January 2008
CORPORATION LTD
("GSPC")
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4
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India GSPC FIRM WORK - $133,500 N/A
(12 months)
January 2009
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India GSPC OPTIONS - (1 TBD N/A
year)
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VICKSBURG 300' Thailand CHEVRON OVERSEAS FIRM WORK - $94,500 $41,000/$41,000
PETROLEUM June 2007
("CHEVRON")
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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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SEMISUBMERSIBLE TENDER ASSIST UNIT:
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SEAHAWK 1,800' Equatorial AMERADA HESS FIRM WORK - $68,430 $74,000/$91,000 Contract
Guinea EQUATORIAL September 2008 (plus provides for
GUINEA, INC. approximately dayrate
("HESS") $19,000 of increases
amortized based upon
per day certain cost
revenue.) escalations
beginning
with the
second year
of the
contract.
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Equatorial HESS OPTIONS - $68,430 N/A Dayrate
Guinea (2 years) subject to
September 2010 increase due
(if all four to contract
six-month options cost
are exercised) escalations.
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5
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SUBMERSIBLE:
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RICHMOND 70' US Gulf of HELIS OIL & GAS FIRM WORK - $80,000 $33,000/34,000
Mexico ("HELIS") (4 wells
remaining,
including current
well) May/June
2007
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US Gulf of HELIS OPTIONS - TBD N/A
Mexico September/October
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 dayrate for
ten to fourteen
days during the
second quarter of
fiscal year 2008
for required
regulatory
inspections
and
maintenance.
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MANAGEMENT CONTRACT
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NORTH RANKIN N/A Australia WOODSIDE FIRM WORK - Daily margin The
`A' May 2007 of around management
$5,000 contract
could
terminate in
May 2007.
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NOTE - EXPECTED TAX RATE
1) The effective tax rate for fiscal year 2007 is now expected to be
13% to 18%. Virtually all of the Company's 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 DECEMBER 2006 $12,000