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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (Date of earliest event reported): MARCH 27, 1998
OFFSHORE LOGISTICS, INC.
(Exact name of registrant as specified in charter)
DELAWARE 0-5232 72-0679819
(State of Incorporation) (Commission File No.) (I.R.S. Employer
Identification No.)
224 RUE DE JEAN
P.O. BOX 5-C, LAFAYETTE, LOUISIANA 70505
(Address of Principal Executive Offices) (Zip Code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (318) 233-1221
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Exhibit Index Appears on Page 4
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ITEM 5. OTHER EVENTS.
On March 27, 1998, Offshore Logistics, Inc., a Delaware corporation (the
"Company"), announced that two new long term contracts had been awarded to the
Company's affiliate, Bristow Helicopters, Ltd., by Shell UK Exploration and
Production. A copy of the press release announcing the award of the contracts
is filed as Exhibit 99.1 and is hereby incorporated herein by reference.
Certain statements made herein and in other public filings and releases by the
Company contain "forward-looking statements" within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"). All such statements other
than statements of historical fact are forward-looking statements. Such forward-
looking statements include, without limitation, the statements herein regarding
the Company's operations and increased levels of activity and their effects on
the Company's future prospects.
Although the Company believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Important factors that could cause
actual results to differ materially from the Company's expectations
("Cautionary Statements") may include, but are not limited to, demand for
Company services, worldwide activity levels in oil and natural gas
exploration, development and production, fluctuations in oil and natural gas
prices, unionization and the response thereto of the Company's customers,
currency fluctuations, and international political conditions. All subsequent
written and oral forward-looking statements attributable to the Company or
persons acting on its behalf are expressly qualified in their entirety by the
Cautionary Statements.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99.1 - Press release of the Company dated March 27, 1998, announcing that
two new long term contracts had been awarded to the Company's
affiliate, Bristow Helicopters, Ltd., by Shell UK Exploration and
Production.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
OFFSHORE LOGISTICS, INC.
Dated: March 27, 1998 /s/ Drury A. Milke
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Drury A. Milke
Vice President, Chief Financial
Officer, Treasurer and Secretary
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INDEX TO EXHIBITS
Number Exhibit
- -------- -------
99.1 Press release of the Company dated March 27, 1998,
announcing that two new long term contracts had been
awarded to the Company's affiliate, Bristow Helicopters,
Ltd., by Shell UK Exploration and Production.
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EXHIBIT 99.1
[OFFSHORE
LOGISTICS, INC]
224 Rue De Jean
Post Office Box 5C
Lafayette, Louisiana 70505
Telephone (318) 233-1221
Telecopier (318) 235-6678
Telex 58-6616
PRESS RELEASE
OFFSHORE LOGISTICS, INC. AFFILIATE
BRISTOW HELICOPTERS LIMITED AWARDED
TWO LONG TERM SHELL NORTH SEA CONTRACTS
LAFAYETTE, LOUISIANA (March 27, 1998) - Shell UK Exploration and Production
announced today that two new long term contracts for helicopter services in the
UK and Dutch sectors of the North Sea have been awarded to Bristow Helicopters
Limited, an affiliate of Offshore Logistics, Inc. The larger contract, running
for seven years starting July 1, 1998, is for helicoper services in the central
and northern North Sea operating out of Aberdeen and Shetland. This contract
should generate revenues in excess of $290 million ((Pounds) 175 million). The
second contract supporting operations in the southern North Sea and in the Dutch
sector of the North Sea, should generate revenues of more than $80 million
((Pounds)50 million) for a five year period also commencing July 1, 1998.
Shell UK Exploration and Production indicated that "these large contracts
have been awarded after a competitive tender process....Bristow Helicopters
Limited offered us the best overall package, taking all factors into
consideration." Bristow, a significant helicopter operator worldwide, is the
largest operator in the North Sea.
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