Attached files
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| 8-K - FLEET STATUS 8-K - ATWOOD OCEANICS INC | atw-201406028xkfleetstatus.htm |
EXHIBIT 99.1
FLEET STATUS REPORT
Atwood Oceanics, Inc. And Subsidiaries Fleet Status Report As of June 2, 2014
Rig Name | Rated Water Depth | Location | Customer | Estimated Contract End Date | Estimated Contract Day Rate | Additional Comments |
ULTRA-DEEPWATER | ||||||
ATWOOD ADVANTAGE | 12,000' | U.S. Gulf of Mexico | NOBLE ENERGY INC. | April 2017 (Fixed term) | $584,000 | Day rate subject to change due to cost escalation provisions in the contract. |
ATWOOD ACHIEVER | 12,000' | Under construction in South Korea | --- | --- | --- | Delivery expected on or before August 31, 2014. |
Multiple countries, to commence in Morocco | KOSMOS ENERGY LTD. / PXP MOROCCO B.V. | November 2017 (36 months) | $595,000 (day rate will be grossed up for all applicable taxes, approximately $660,000 in Morocco) | Upon delivery from the shipyard, the rig will commence mobilization at a day rate of approximately $417,000 with a scheduled arrival in November 2014. Day rate subject to change due to cost escalation and tax reimbursement provisions in the contract. | ||
ATWOOD ADMIRAL | 12,000' | Under construction in South Korea scheduled for delivery in March 2015. | --- | AVAILABLE | N/A | |
ATWOOD ARCHER | 12,000' | Under construction in South Korea scheduled for delivery in December 2015. | --- | AVAILABLE | N/A | |
ATWOOD CONDOR | 10,000' | U.S. Gulf of Mexico | SHELL OFFSHORE INC. | November 2016 (Fixed term) | $555,000 | Day rate subject to change due to cost escalation provisions in the contract. |
ATWOOD OSPREY | 8,200' | Australia | CHEVRON AUSTRALIA PTY. LTD. | May 2017 (Fixed term) | Approximately $470,000 | Day rate subject to change due to cost escalation and currency exchange provisions in the contract. |
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Rig Name | Rated Water Depth | Location | Customer | Estimated Contract End Date | Estimated Contract Day Rate | Additional Comments |
DEEPWATER SEMISUBMERSIBLES | ||||||
ATWOOD EAGLE | 5,000' | Australia | APACHE ENERGY LTD. (“APACHE”) | July 2014 (Fixed term) | Approximately $385,000 | Day rate subject to change due to cost escalation and currency exchange provisions in the contract. |
Australia | WOODSIDE ENERGY LTD. | July 2016 (24 months) | Approximately $460,000 | Day rate subject to change due to cost escalation and currency exchange provisions in the contract. | ||
ATWOOD FALCON | 5,000' | Australia | APACHE | February 2015 (Fixed term) | Approximately $385,000 | Day rate subject to change due to cost escalation and currency exchange provisions in the contract. |
Australia | MURPHY AUSTRALIA WA-481-P OIL PTY LTD | April 2015 (2 wells) | $499,500 | Day rate subject to change due to cost escalation provisions in the contract. The contract provides an option for one well at the contracted rate with a minimum duration of 20 days. | ||
Australia | BHP BILLITON PETROLEUM PTY., LIMITED | March 2016 (11 months) | Approximately $430,000 | Day rate subject to change due to cost escalation and currency exchange provisions in the contract. The contract provides two option periods at the contracted rate with an estimated duration of 120 days for each period. | ||
ATWOOD HUNTER | 5,000' | Ghana | --- | --- | --- | The rig has completed its planned maintenance and regulatory inspections and is currently waiting commencement of its next contract. |
Equatorial Guinea | GUINEA ECUATORIAL DE PETROLEOS | To be determined (3 wells) | $515,500 | The contract provides for an option for one well at the contracted rate with an estimated duration of 30 days. This drilling program is expected to be postponed until at least the second half of calendar year 2014 due to customer delays. | ||
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Rig Name | Rated Water Depth | Location | Customer | Estimated Contract End Date | Estimated Contract Day Rate | Additional Comments |
JACKUPS | ||||||
ATWOOD MAKO | 400' | Thailand | SALAMANDER ENERGY (BUALUANG) LIMITED | November 2014 (Fixed term) | $155,000 through August 2014 / $165,000 thereafter | |
ATWOOD MANTA | 400' | Malaysia/Thailand | CEC INTERNATIONAL, LTD. | December 2015 (Fixed term) | $174,500 Malaysia /$159,500 Thailand | Day rate subject to change due to cost escalation provisions in the contract. |
ATWOOD ORCA | 400' | Thailand | MUBADALA PETROLEUM | February 2016 (Fixed Term) | $165,000 | Day rate subject to change due to cost escalation provisions in the contract. |
ATWOOD BEACON | 400' | Italy | ENI S.p.A. | January 2016 (Fixed term) | 135,100 EUR (approximately $185,000 USD) | Day rate subject to change due to cost escalation provisions in the contract. The contract provides a one year option at market rates. |
ATWOOD AURORA | 350' | Cameroon/Equatorial Guinea | GLENCORE EXPLORATION CAMEROON LTD / NOBLE ENERGY EG LTD. | July 2014 (2 wells remaining) | $155,000, through early June 2014 / $182,000 thereafter | Day rate subject to change due to cost escalation and currency exchange provisions in the contract. |
Cameroon | ADDAX PETROLEUM CAMEROON LIMITED | July 2016 (24 months) | $158,000 / $185,000 (inclusive of Cameroon withholding tax depending on well location) | Day rate subject to change due to cost escalation provisions in the contract. | ||
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Rig Name | Rated Water Depth | Location | Customer | Estimated Contract End Date | Estimated Contract Day Rate | Additional Comments |
OTHER | ||||||
ATWOOD SOUTHERN CROSS | 2,000' | Malta | --- | COLD STACKED | N/A | |
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DEFINITIONS AND DISCLAIMERS
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, but not limited to, information regarding our estimated rig availability, estimated delivery dates, estimated contract duration, day rates, future contract commencement dates and locations and planned out of service time are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements reflect management's reasonable judgment with respect to future events. Forward-looking statements are subject to numerous risks, uncertainties and assumptions and actual results could differ materially from those anticipated as a result of various factors including: uncertainties related to the level of activity in offshore oil and gas exploration and development; oil and gas prices; competition and market conditions in the contract drilling industry; shipyard delays and the risks inherent in the construction of a rig; delays in the commencement of operations of a rig following delivery; our ability to enter into and the terms of future contacts; possible cancelation or suspension of drilling contracts; the availability of qualified personnel; labor relations; operating hazards and risks; terrorism and political and other uncertainties inherent in foreign operations (including risk of war, civil disturbances, seizure or damage to equipment and exchange and currency fluctuations); the impact of governmental and industry laws and regulations; and environmental matters. These factors and others are described and discussed in our most recently filed annual report on Form 10-K , in our Forms 10-Q for subsequent periods and in our other filings with the Securities and Exchange Commission which are available on the SEC's website at www.sec.gov. All information in this Fleet Status Report is as of the date indicated above and is subject to change without notice. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement, and 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.
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