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EXHIBIT 99.1
ATWOOD OCEANICS, INC. AND SUBSIDIARIES FLEET STATUS REPORT
AS OF JULY 2, 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
AVERAGE PER DAY
RIG RATED ESTIMATED ESTIMATED OPERATING COSTS ADDITIONAL
NAME WATER LOCATION CUSTOMER CONTRACT CONTRACT (NOT INCLUDING COMMENTS
DEPTH END DATE DAYRATE TAX) FOR THE
THREE MONTHS
ENDED MAY 31,
2007/MONTH
ENDED MAY 31,
2007 ONLY
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SEMISUBMERSIBLES:
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ATWOOD 5000' Australia BHP BILLITON FIRM WORK - 1 well at $102,000/$109,000 Wells are
EAGLE PETROLEUM PTY (5 wells approximately subject to a
("BHPB") remaining $150,000 change in
including (currently being sequence and a
current drilled) portion of the
operation) 3 wells at dayrate is
November 2007 approximately subject to
$160,000 some change
1 well at due to
approximately currency
$170,000 exchange rate
variance.
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-1-
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Australia BHPB OPTIONS - Approximately N/A A portion of the
(2 wells) $170,000 dayrate is subject
January 2008 if to some change due
the two remaining to currency
option wells are exchange rate
drilled. variance.
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Australia ENI Spa AGIP FIRM WORK - $360,000 N/A We expect the well
EXPLORATION & (1 well) to take 40 to 45
PRODUCTION February/March 2008 days to complete.
DIVISION ("ENI") (assuming that the
two above option
wells are drilled)
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Australia WOODSIDE FIRM WORK - $405,000 N/A A portion of the
ENERGY LTD (2 years) dayrate is subject
("WOODSIDE") March 2010 to some change due
(assuming that the to currency
two above option exchange rate
wells are drilled) variance.
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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.
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-2-
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ATWOOD 5,000' Mauritania/ WOODSIDE FIRM WORK - $240,000 $71,000/$71,000 The rig is
HUNTER Libya April/May 2008 (Mauritania) currently working
$245,000 (Libya) offshore Libya.
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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)
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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.
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ATWOOD 5,000' Malaysia SARAWAK SHELL FIRM WORK - $113,000 $52,000/$52,000 (The $24 million
FALCON BERHAD ("SHELL") July 10, 2007 Shell
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.)
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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.
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Malaysia SHELL OPTION - TBD N/A
(1 year)
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-3-
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ATWOOD 2,000' Turkey TURKIYE FIRM WORK 3 wells at $51,000/$55,000 There is a
SOUTHERN PETROLLERI A.O. (4 wells) $290,000 possibility that
CROSS ("TPAO") Early December 1 well at one well could
2007 $320,000 be deferred
until after the
Melrose drilling
program.
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Bulgaria MELROSE FIRM WORK - $145,000 N/A
(2 wells)
Early February
2008
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Bulgaria MELROSE FIRM WORK - $380,000 N/A
(1 well)
March 2008
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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 or possibly
first quarter of
fiscal year 2008
for regulatory
inspections.
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CANTILEVER JACK-UPS:
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ATWOOD 400' India GUJARAT STATE FIRM WORK - $113,000 $38,000/$38,000
BEACON PETROLEUM January 2008
CORPORATION LTD
("GSPC")
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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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-4-
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VICKSBURG 300' Thailand CHEVRON OVERSEAS FIRM WORK - $154,000 $35,000/$38,000
PETROLEUM (2 years)
("CHEVRON") June 2009
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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.
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SEMISUBMERSIBLE TENDER ASSIST UNIT:
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SEAHAWK 1,800' Equatorial AMERADA HESS FIRM WORK - $71,900 $79,000/$72,000 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.
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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)
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SUBMERSIBLE:
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RICHMOND 70' US Gulf of HELIS OIL & GAS FIRM WORK - $80,000 $38,000/$36,000
Mexico ("HELIS") October 2007
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US Gulf of N/A N/A N/A N/A The rig could
Mexico incur fourteen to
twenty-one
zero 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.
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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 MAY 2007 $ 16,000