17 Oct 2017listing compliance notice▼ BadMajor
ATWOOD OCEANICS INC terminated the registration of a class of securities, ending its reporting obligation for them.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 Oct 2017listing compliance notice● NeutralMajor
ATWOOD OCEANICS INC's exchange filed to remove a class of its securities from listing.
6 Oct 2017business combination▼ BadMajor
The merger closed October 6, 2017: Ensco's merger subsidiary merged into Atwood, which became a wholly-owned Ensco subsidiary, and Atwood immediately paid off and terminated its credit facility in full -- the end of Atwood Oceanics as an independent company, twelve years after this filing history begins.
24 July 2017production update▼ BadMajor
With the Ensco merger pending, Atwood said this would be its last quarterly Fleet Status Report -- an acknowledgment that its days as an independent, separately-reporting company were numbered.
30 May 2017business combination● NeutralMajor
Atwood agreed to be acquired by Ensco plc in an all-stock merger, with Ensco absorbing Atwood as a wholly-owned subsidiary -- consolidation between two offshore drillers as the industry tried to cut excess capacity after three years of downturn.
30 May 2017business combination● NeutralMajor
Under the merger terms, each Atwood share converts to 1.60 Ensco Class A ordinary shares; both companies announced the deal in a joint press release the same day the agreement was signed.
2 Feb 2017production update● Neutral
Routine quarterly fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
6 Dec 2016material agreement▼ BadMajor
Atwood and DSME agreed for a fifth time to delay delivery of the Atwood Admiral drillship, this time to September 2019, with Atwood paying $10 million now and pushing the remaining roughly $84 million payment out to 2022 -- deferring a rig it has no work for rather than cancelling it outright, a sign of how oversupplied the drillship market had become.
3 Nov 2016production update● Neutral
Routine quarterly fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
27 July 2016production update● Neutral
Routine quarterly fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
2 May 2016production update● Neutral
Routine quarterly fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
29 Mar 2016debt financing▼ BadMajor
As the oil-price downturn deepened, lenders overhauled Atwood's credit agreement: leverage covenants were scrapped entirely, a new $150 million minimum-liquidity requirement was added, total commitments were cut by $152 million, and -- most tellingly -- the company was barred from paying dividends, ending the payout it had started just eighteen months earlier.
1 Feb 2016production update● Neutral
Routine quarterly fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
2 Nov 2015production update● Neutral
Routine quarterly fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
28 July 2015production update● Neutral
First quarterly (rather than monthly) fleet status report under the new cadence; no new incidents or contract changes were highlighted.
2 July 2015production update▼ Bad
Atwood announced it is cutting its Fleet Status Report from monthly to quarterly starting late July -- a lighter disclosure cadence reflecting how little was changing in a fleet increasingly short of new contracts.
1 June 2015production update● Neutral
Routine fleet status update; the filing also shows Mark W. Smith now signing as interim CFO, a leadership change from the company's longtime finance officer.
30 Apr 2015production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
1 Apr 2015production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
6 Mar 2015debt financing▼ BadMajor
With oil prices deep into their collapse, lenders loosened Atwood's credit-agreement leverage covenant to 4.50x through 2017 (from 4.00x) -- the first sign of covenant relief after years of expanding the facility, an early symptom of the balance-sheet strain building from the downturn.
2 Mar 2015production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
2 Feb 2015production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
5 Jan 2015production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
1 Dec 2014production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
3 Nov 2014production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
1 Oct 2014production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
15 Sept 2014dividend declaration▲ GoodMajor
Atwood declared its first-ever quarterly dividend, $0.25/share, payable January 2015 -- a new capital-return commitment made just as oil prices were beginning the slide that would define the next two years.
3 Sept 2014production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
1 Aug 2014production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.
1 July 2014production update● Neutral
Routine fleet status update; no new incidents or contract changes were highlighted beyond the standard report.