M
EXHIBIT 99.1
ATWOOD OCEANICS, INC. AND SUBSIDIARIES FLEET STATUS REPORT
AS OF JUNE 6, 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
- -----------------------------------------------------------------------------------------------------------------------------------
UNAUDITED
ESTIMATED AVERAGE PER
RATED ESTIMATED CONTRACT DAY OPERATING ADDITIONAL
RIG NAME WATER LOCATION CUSTOMER CONTRACT END DAYRATE COSTS (NOT COMMENTS
DEPTH DATE INCLUDING TAX)
FOR THE THREE
MONTHS ENDED
APRIL 30,
2007/MONTH
ENDED APRIL
30, 2007 ONLY
- -----------------------------------------------------------------------------------------------------------------------------------
SEMISUBMERSIBLES:
- -----------------------------------------------------------------------------------------------------------------------------------
ATWOOD 5000' Australia BHP BILLITON FIRM WORK - 3 wells at $98,000/112,000 Wells are subject
EAGLE PETROLEUM PTY (6 wells approximately to a change in
("BHPB") remaining $160,000 sequence and a
including 2 well at portion of the
current approximately dayrate is
operation) $170,000 subject to
November 2007 1 well at some change due to
approximately currency exchange
$150,000 rate variance.
(expected to be
drilled in
June/July 2007)
- -----------------------------------------------------------------------------------------------------------------------------------
1
- -----------------------------------------------------------------------------------------------------------------------------------
Australia BHPB OPTIONS - Approximately N/A A portion of the
(2 wells) $170,000 dayrate is
January 2008 if subject to some
the two remaining change due to
option wells are currency exchange
drilled. rate variance.
- -----------------------------------------------------------------------------------------------------------------------------------
Australia ENI Spa AGIP FIRM WORK - $360,000 N/A We expect the
EXPLORATION & (1 well) well to take 40
PRODUCTION February/March 2008 to 45 days to
DIVISION ("ENI") (assuming that the complete.
two above option
wells are drilled)
- -----------------------------------------------------------------------------------------------------------------------------------
Australia WOODSIDE FIRM WORK - $405,000 N/A A portion of the
ENERGY LTD (2 years) dayrate is
("WOODSIDE") March 2010 subject to some
(assuming that the change due to
two above option currency exchange
wells are drilled) rate variance.
- -----------------------------------------------------------------------------------------------------------------------------------
Australia N/A N/A N/A N/A The rig is
expected to incur
ten to fourteen
zero rate days
during the first
or second quarter
of fiscal year
2008 for required
regulatory
inspections and
planned
maintenance.
- -----------------------------------------------------------------------------------------------------------------------------------
2
- -----------------------------------------------------------------------------------------------------------------------------------
ATWOOD HUNTER 5,000' Mauritania/ WOODSIDE FIRM WORK - $240,000 $70,000/75,000 The rig is
Libya April/May 2008 (Mauritania) currently working
$245,000 offshore Libya.
(Libya)
- -----------------------------------------------------------------------------------------------------------------------------------
TBD WOODSIDE OPTIONS - TBD N/A
Two (2)
six-month
options.
April/May
2009, if
exercised at
negotiated
market rate.
(Agreement has
to be executed
by November
2007)
- -----------------------------------------------------------------------------------------------------------------------------------
TBD N/A N/A N/A N/A The rig could
incur around five
to ten zero rate
days during the
fourth quarter of
fiscal year 2007
for upgrades and
planned
maintenance.
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
ATWOOD FALCON 5,000' Malaysia SARAWAK SHELL FIRM WORK - $113,000 $49,000/51,000 (The $24 million Shell
BERHAD ("SHELL") July 10, 2007 reimbursement is
being amortized
as revenues over
the remaining
firm contract
commitment
following the
upgrade (32
months) which
will increase
dayrate revenues
by approximately
$24,000.)
- -----------------------------------------------------------------------------------------------------------------------------------
Malaysia SHELL FIRM WORK - $160,000/ N/A Most of the work
(2 years) $200,000 during this
July 2009 (dayrate period is
depends on expected to be at
water depth of the $160,000
each well) dayrate level.
- -----------------------------------------------------------------------------------------------------------------------------------
Malaysia SHELL OPTION - TBD N/A
(1 year)
- -----------------------------------------------------------------------------------------------------------------------------------
3
- -----------------------------------------------------------------------------------------------------------------------------------
ATWOOD 2,000' Bulgaria MELROSE RESOURCES FIRM WORK - $155,000 $49,000/55,000
SOUTHERN ("MELROSE") Late June 2007
CROSS
- -----------------------------------------------------------------------------------------------------------------------------------
Turkey TURKIYE PETROLLERI FIRM WORK - $290,000 N/A
A.O. ("TPAO") (3 wells)
Early
November 2007
- -----------------------------------------------------------------------------------------------------------------------------------
Bulgaria MELROSE FIRM WORK - $145,000 N/A
(2 wells)
Early January
2008
- -----------------------------------------------------------------------------------------------------------------------------------
Bulgaria MELROSE FIRM WORK - $380,000 N/A
(1 well)
February 2008
- -----------------------------------------------------------------------------------------------------------------------------------
Turkey TPAO FIRM WORK - $320,000 N/A
(1 well)
March 2008
- -----------------------------------------------------------------------------------------------------------------------------------
TBD N/A N/A N/A N/A The rig could
incur five to
ten zero rate
days during the
fourth quarter
of fiscal year
2007 for
regulatory
inspections.
- -----------------------------------------------------------------------------------------------------------------------------------
4
- -----------------------------------------------------------------------------------------------------------------------------------
CANTILEVER JACK-UPS:
- -----------------------------------------------------------------------------------------------------------------------------------
ATWOOD BEACON 400' India GUJARAT STATE FIRM WORK - $113,000 $38,000/37,000
PETROLEUM January 2008
CORPORATION LTD
("GSPC")
- -----------------------------------------------------------------------------------------------------------------------------------
India GSPC FIRM WORK - $133,500 N/A
(12 months)
January 2009
- -----------------------------------------------------------------------------------------------------------------------------------
India GSPC OPTIONS - (1 TBD N/A
year)
- -----------------------------------------------------------------------------------------------------------------------------------
VICKSBURG 300' Thailand CHEVRON OVERSEAS FIRM WORK - $94,500 $32,000/33,000
PETROLEUM June 2007
("CHEVRON")
- -----------------------------------------------------------------------------------------------------------------------------------
Thailand CHEVRON FIRM WORK - $154,000 N/A
(2 years)
June 2009
- -----------------------------------------------------------------------------------------------------------------------------------
Thailand N/A N/A N/A N/A The rig is expected to
incur ten to fourteen
zero rate days during
the last quarter of
fiscal year 2007
for required regulatory
inspections.
- -----------------------------------------------------------------------------------------------------------------------------------
5
- -----------------------------------------------------------------------------------------------------------------------------------
SEMISUBMERSIBLE TENDER ASSIST UNIT:
- -----------------------------------------------------------------------------------------------------------------------------------
SEAHAWK 1,800' Equatorial AMERADA HESS FIRM WORK - $71,900 $79,000/79,000 Contract
Guinea EQUATORIAL September 2008 (plus provides for
GUINEA, INC. approximately dayrate
("HESS") $19,000 of increases based
amortized per upon certain
day revenue.) 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 HESS OPTIONS - $71,900 N/A Dayrate subject
Guinea (2 years) to increase due
September to contract cost
2010 escalations.
(if all four
six-month
options are
exercised)
- -----------------------------------------------------------------------------------------------------------------------------------
SUBMERSIBLE:
- -----------------------------------------------------------------------------------------------------------------------------------
RICHMOND 70' US Gulf of HELIS OIL & GAS FIRM WORK - $80,000 $37,000/36,000
Mexico ("HELIS") October 2007
- -----------------------------------------------------------------------------------------------------------------------------------
US Gulf of N/A N/A N/A N/A The rig could
Mexico incur fourteen to
twenty-one rate days
during the fourth
quarter of fiscal year
2007 or the first or
second quarter of
fiscal year 2008
for required
regulatory inspections
and planned
maintenance.
- -----------------------------------------------------------------------------------------------------------------------------------
NOTE - EXPECTED TAX RATE
1) The effective tax rate for fiscal year 2007 is now expected to be
around 15%. 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 APRIL 2007 $17,000
6