ATWOOD OCEANICS INC
SC 13G, 1994-01-26
DRILLING OIL & GAS WELLS
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                            UNITED STATES
                  SECURITIES AND EXCHANGE COMMISSION
                       Washington, D.C.  20549


                             SCHEDULE 13G


              Under the Securities Exchange Act of 1934

                     (Amendment No. ___4______)*


                        ATWOOD OCEANICS, INC.
                           (Name of Issuer)

                    COMMON STOCK, $1.00 PAR VALUE
                    (Title of Class of Securities)

                               050095108    
                            (CUSIP Number)


Check the following box if a fee is being paid with this
statement.  (A fee is not required only if the filing person:
(1)  has a previous statement on file reporting beneficial
ownership of more than five percent of the class of securities
described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of
such class.)  (See Rule 13d-7).
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided
in a prior cover page.

The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18
of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall
be subject to all other provisions  of the Act (however, see the
Notes).


   1  NAME OF REPORTING PERSON
      S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

      Forstmann-Leff Associates Inc.
      13-3131718

   2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                   (a) 

                                                   (b) 


   3  SEC USE ONLY



   4  CITIZENSHIP OR PLACE OF ORGANIZATION

            New York


                  5  SOLE VOTING POWER
     NUMBER OF
       SHARES        348,900 shares
    BENEFICIALLY
      OWNED BY    6  SHARED VOTING POWER
        EACH
     REPORTING       14,500 shares
       PERSON     7  SOLE DISPOSITIVE POWER
        WITH
                     468,900 shares

                  8  SHARED DISPOSITIVE POWER

                     121,200 shares

   9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
       PERSON

       590,100 shares
   10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
       CERTAIN SHARES*


   11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

       9.0%

   12  TYPE OF REPORTING PERSON*

       IA, CO


   1  NAME OF REPORTING PERSON
      S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

      FLA Asset Management, Inc.
      13-29256626

   2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                   (a) 

                                                   (b) 


   3  SEC USE ONLY



   4  CITIZENSHIP OR PLACE OF ORGANIZATION

      Delaware


                  5  SOLE VOTING POWER
     NUMBER OF
       SHARES        None
    BENEFICIALLY
      OWNED BY    6  SHARED VOTING POWER
        EACH
     REPORTING       14,500 shares
       PERSON     7  SOLE DISPOSITIVE POWER
        WITH
                     None

                  8  SHARED DISPOSITIVE POWER

                     121,200 shares

   9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
       PERSON

       121,200 shares
   10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
       CERTAIN SHARES*



   11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

       1.8%

   12  TYPE OF REPORTING PERSON*

       IA, CO



   1  NAME OF REPORTING PERSON
      S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

      Stamford Advisers Corp.
      13-3421430

   2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                   (a) 

                                                   (b) 


   3  SEC USE ONLY



   4  CITIZENSHIP OR PLACE OF ORGANIZATION

      New York 


                  5  SOLE VOTING POWER
     NUMBER OF
       SHARES        None
    BENEFICIALLY
      OWNED BY    6  SHARED VOTING POWER
        EACH
     REPORTING       None
       PERSON     7  SOLE DISPOSITIVE POWER
        WITH
                     None

                  8  SHARED DISPOSITIVE POWER

                     None

   9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
       PERSON

       None
   10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
       CERTAIN SHARES*



   11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

       0%

   12  TYPE OF REPORTING PERSON*

       IA, CO


Item 1(a)      Name of Issuer

               Atwood Oceanics, Inc.

Item 1(b)      Address of Issuer's Principal Executive Offices:

                 15835 Park Ten Place Drive
                 P.O. Box 218350
                 Houston, Texas 77218

Item 2(a)      Name of Person Filing:

                 See Item 1 of the cover pages attached hereto

Item 2(b)      Address of Principal Business Office, or
                 if none, Residence:                            

                 55 East 52nd Street
                 New York, New York  10055

Item 2(c)      Citizenship:

                 See Item 4 of the cover pages attached hereto

Item 2(d)      Title of Class of Securities:

                 Common Stock, par value $1.00

Item 2(e)      CUSIP Number:

                 050095108

Item 3         Forstmann-Leff   Associates   Inc.,  a   New  York
               corporation,  is  a registered  investment adviser
               under  Section 203 of  the Investment Advisers Act
               of 1940  (the "Act").  FLA  Asset Management, Inc.
               is a  registered investment adviser  under the Act
               and a subsidiary of Forstmann-Leff Associates Inc.
               Stamford Advisers Corp. is a registered investment
               adviser  under  the   Act  and  a  subsidiary   of
               Forstmann-Leff Associates Inc.

  Item 4         Ownership:

                 (a)  Amount beneficially owned:
                    See Item 9 of the cover pages attached hereto

                 (b)  Percent of Class:
                    See Item 11 of the cover pages attached hereto

                 (c)  See Items 5 through 8 of the cover pages
                     attached hereto

  Item 5         Ownership of Five Percent or Less of a Class:

                 Not Applicable

  Item 6         Ownership of More than Five Percent on Behalf of
                 Another Person:

                 Not Applicable

  Item 7         Identification and Classification of the
                 Subsidiary Which Acquired the Security Being
                 Reported on By the Parent Holding Company:  

                 Not Applicable

  Item 8         Identification and Classification of Members of
                 the Group:

                 Not Applicable

  Item 9         Notice of Dissolution of Group:

                 Not Applicable

  Item 10        Certification:

                By signing below I certify that, to the best of my
                knowledge and belief,  the securities referred  to
                above  were  acquired in  the  ordinary  course of
                business and were not  acquired for the purpose of
                and  do  not  have   the  effect  of  changing  or
                influencing  the control  of  the  issuer of  such
                securities and  were  not acquired  in  connection
                with or as a participant in any transaction having
                such purposes or effect.


                              SIGNATURES



            After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set forth in
this statement is true, complete and correct.


  January 12, 1994


                                    FORSTMANN-LEFF ASSOCIATES INC.


                                     By:  /s/ Peter A. Lusk       

                
                                          Peter A. Lusk
                                          Chief Operating Officer


                                     FLA ASSET MANAGEMENT, INC.


                                     By:  /s/ Peter A. Lusk       

               
                                       Peter A. Lusk
                                       Executive Vice President
                                       and Chief Operating Officer

                                     STAMFORD ADVISERS CORP.


                                     By:  /s/ Peter  A. Lusk      

               
                                          Peter A. Lusk
                                          Vice President/Secretary





                                        Exhibit A


                              AGREEMENT

          The  undersigned,  Forstmann-Leff Associates  Inc., FLA
Asset Management,  Inc. and  Stamford Advisers Corp.,  agree that
the  statement  to which  this exhibit  is  appended is  filed on
behalf of each of them.


  January 12, 1994


                                     FORSTMANN-LEFF ASSOCIATES
INC.


                                     By:  /s/ Peter A. Lusk       

                
                                          Peter A. Lusk
                                          Chief Operating Officer


                                     FLA ASSET MANAGEMENT, INC.


                                     By: /s/ Peter A. Lusk        

               
                                      Peter A. Lusk
                                      Executive Vice President
                                      and Chief Operating  Officer

                                     STAMFORD ADVISERS CORP.


                                     By:  /s/ Peter A. Lusk       

               
                                          Peter A. Lusk
                                          Vice President/Secretary

                                      Fulbright & Jaworski
                                             L.L.P.
                           A Registered Limited Liability Partnership
                                        666 Fifth Avenue
                                    New York, New York  10103

telephone: 212/318-3000
facsimile: 212/752-5958
writer's direct dial number:
212/318-3382

January 26, 1994

Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, NW
Washington, D.C.  20549

Re:  Reports on Schedule 13G

Ladies and Gentlemen:

           Attached are conformed copies of two reports on Schedule
13G which are being filed on behalf of Forstmann-Leff Associates
Inc. and FLA Asset Management, Inc. to report these entities'
beneficial ownership of Common Stock of the following companies
as of December 31, 1993:

                  Company                                      Document Filed

                  Service Merchandise Co., Inc.                Amendment No. 7
                  Atwood Oceanics, Inc.                        Amendment No. 4

           These reports are also being transmitted to the
Securities and Exchange Commission pursuant to EDGAR.  Copies of
these reports are being sent to the companies and, in the case of
Service Merchandise Co., Inc., are being filed with the New York
Stock Exchange, Inc.

           Please acknowledge receipt of the enclosed by stamping
the accompanying duplicate copy of this letter and returning it
to the undersigned in the enclosed self-addressed stamped
envelope.

Very truly yours,


Mara H. Rogers
MHR/gr
Enclosures
cc: Mr. Daniel Yu



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