Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K FLEET STATUS UPDATE - ATWOOD OCEANICS INC | f8kjan82010.htm |
EXHIBIT 99.1
FLEET STATUS REPORT
Atwood Oceanics, Inc. And Subsidiaries Fleet Status Report As of January 2010
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, 2008, 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.
|
Rig Name |
Rated Water Depth |
Location |
Customer |
Estimated Contract End Date |
Estimated Contract Day Rate |
Additional Comments |
|
ATWOOD EAGLE |
5000’ |
Australia |
CHEVRON AUSTRALIA PTY LTD (“CHEVRON”) UNDER ASSIGNMENT FROM WOODSIDE
ENERGY LTD |
FIRM WORK –
June 2010 |
Approximately $405,000 |
A portion of the dayrate is subject to some change due to currency exchange rate variance.
|
|
Australia
|
BHP BILLITON PETROLEUM |
FIRM WORK –
(One well deferred from previous drilling program which is now expected to be drilled during June or July 2010.) |
Approximately
$170,000 for 35 days and $465,000 thereafter until completion. |
|||
|
Australia |
CHEVRON |
FIRM WORK – (Until ATWOOD OSPREY arrives in Australia) February/March 2011
|
$430,000/$450,000
Depending on firm duration of Atwood Osprey Contract |
Subject to change due to cost escalation provisions in the contract. | ||
|
Australia |
CHEVRON |
OPTION WORK –
Has option to continue to use rig for a mutually agreed term after the new semisubmersible arrives in Australia.
|
$405,000/$425,000
Depending on firm duration of Atwood Osprey Contract |
Subject to change due to cost escalation provisions in the contract. | ||
|
TBD |
N/A |
N/A |
N/A |
The rig could incur around twenty (20) zero rate days in the first quarter of 2011 for regulatory inspections and planned maintenance.
| ||
|
ATWOOD HUNTER |
5,000’ |
Ghana |
KOSMOS ENERGY GHANA HC (“KOSMOS”) (Approximately 135 days of the commitment has been assigned to Tullow Ghana Limited)
|
FIRM WORK -
June 2010
(Estimated to take 270 days)
|
$538,000 |
Subject to change due to cost escalation provisions in the contract. |
|
Other West Africa Designated Areas
|
NOBLE ENERGY INC (“NOBLE”)
/KOSMOS |
FIRM WORK -
October/November 2012 |
$538,000 to $545,000 while operating
|
Subject to change due to cost escalation provisions in the contract. | ||
|
ATWOOD FALCON |
5,000’ |
Malaysia |
SARAWAK SHELL BERHAD (“SHELL”)
|
FIRM WORK –
August 2011 |
$425,000/plus approximately $4,000 of amortized per day revenues
|
Subject to change due to cost escalation provisions in the contract. |
|
ATWOOD OSPREY |
6,000’ |
Under construction in Singapore with Delivery Expected in early 2011 at which time the rig will be mobilized to Australia. |
CHEVRON AUSTRALIA PTY. LTD. |
FIRM WORK –
Early 2014 if three-year commitment or early 2017 if six-year commitments. (Contract provides for a commitment of three years with option to extend to six years at time of delivery of rig)
|
$470,000 (if three-year commitment)
$450,000 (if six-year commitment) |
Subject to change due to cost escalation provisions in the contract. |
|
ATWOOD SOUTHERN CROSS |
2,000’ |
West Africa |
NONE |
FIRM WORK – NONE
|
NONE |
Contract opportunities are currently being pursued while rig is “ready stacked” in West Africa.
|
|
TBD |
TBD |
N/A |
N/A |
N/A |
The rig could incur ten (10) zero rate days in the fourth quarter of fiscal year 2010 for regulatory inspections.
| |
|
ATWOOD BEACON |
400’ |
EQUATORIAL GUINEA
|
HESS EQUATORIAL GUINEA, INC. (“HESS”) |
FIRM WORK –
June 2010
(Estimated to take 240 days to complete the drilling of six (6) firm wells) |
$110,000/plus approximately $5,000 of amortized per day revenues for 240 days. |
Operating expenses for the rig through June 2010 will be increased by approximately $30,000 per day due to amortization of mobilization expense.
|
|
EQUATORIAL GUINEA |
HESS |
OPTION WORK –
February 2011 (Hess has options to extend its drilling program for an additional six (6) wells or estimated 240 days.)
|
$110,000 |
|||
|
TBD |
N/A |
N/A |
N/A |
The rig could incur ten (10) zero rate days in the second or third quarters of fiscal year 2011. | ||
|
VICKSBURG |
300’ |
Thailand |
NUCOASTAL (THAILAND) LIMITED (“NUCOASTAL”) |
FIRM WORK – March 2010 |
$90,000
|
|
|
Thailand |
NUCOASTAL |
OPTION WORK – Has option to extend program an additional three (3) months which must be exercised by January 4, 2010.
June 2010
|
$90,000 |
|||
|
Thailand |
NUCOASTAL |
OPTION WORK – Has option to extend program an additional six (6) months which must be exercised by April 1, 2010.
December 2010
|
$90,000 |
|||
|
TBD |
N/A |
N/A |
N/A |
The rig could incur ten (10) zero rate days in the third or fourth quarter of fiscal year 2010 for regulatory inspections.
| ||
|
ATWOOD AURORA |
350’ |
Egypt |
GAZ DE FRANCE UNTIL MID-2010 UNDER ASSIGNMENT FROM RWE DEA NILE GmbH (“RWE”) |
FIRM WORK –
April 2011 |
$133,000
|
Subject to change due to cost escalation provisions in the contract. |
|
Egypt |
RWE |
OPTIONS –
(1 Year) |
TBD |
|||
|
SEAHAWK |
1,800’ |
Equatorial Guinea |
AMERADA HESS EQUATORIAL GUINEA, INC. (“HESS”) |
FIRM WORK –
September 2010 |
$90,000
|
Contract provides for dayrate increases based upon certain cost escalations as well as an approximately $20,000 per day reduction during periods when the rig is being relocated to a new drilling site.
|
|
RICHMOND |
70’ |
US Gulf of Mexico |
HELIS OIL & GAS COMPANY LLC TURNKEY DRILLED BY APPLIED DRILLING TECHNOLOGY INC.
|
FIRM WORK –
Early to Mid-February 2010
|
$33,500 |
Contract opportunities are currently being pursued for additional work for the rig after it completes the drilling of the one-well program.
|
|
US Gulf of Mexico |
N/A |
N/A |
N/A |
The rig could incur ten (10) zero rate days in the third quarter of fiscal year 2010 for regulatory inspections.
|