FORM 10-K/A
AMENDMENT NO. 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Mark One)
( X ) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE FISCAL YEAR ENDED: December 31, 1997
OR
( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)
FOR THE TRANSITION PERIOD FROM ______ TO ______
Commission File Number: 1-11675
TRITON ENERGY LIMITED
(Exact name of registrant as specified in its charter)
CAYMAN ISLANDS NONE
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
CALEDONIAN HOUSE
MARY STREET, P.O. BOX 1043
GEORGE TOWN
GRAND CAYMAN, CAYMAN ISLANDS NONE
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 345-949-0050
Securities registered pursuant to Section 12(b) of the Act:
NAME OF EACH EXCHANGE
TITLE OF EACH CLASS ON WHICH REGISTERED
------------------- ---------------------
Ordinary Shares, $.01 par value New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act:
None.
INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED ALL REPORTS
REQUIRED TO BE FILED BY SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF
1934 DURING THE PRECEDING 12 MONTHS (OR FOR SUCH SHORTER PERIOD THAT THE
REGISTRANT WAS REQUIRED TO FILE SUCH REPORTS), AND (2) HAS BEEN SUBJECT TO
SUCH FILING REQUIREMENTS FOR THE PAST 90 DAYS. YES X NO
INDICATE BY CHECK MARK IF DISCLOSURE OF DELINQUENT FILERS PURSUANT TO
ITEM 405 OF REGULATION S-K IS NOT CONTAINED HEREIN, AND WILL NOT BE CONTAINED,
TO THE BEST OF REGISTRANT'S KNOWLEDGE, IN DEFINITIVE PROXY OR INFORMATION
STATEMENTS INCORPORATED BY REFERENCE IN PART III OF THIS FORM 10-K OR ANY
AMENDMENT TO THIS FORM 10-K.
THE AGGREGATE MARKET VALUE OF THE VOTING STOCK HELD BY NON-AFFILIATES OF
THE REGISTRANT AT MARCH 16, 1998 (FOR SUCH PURPOSES ONLY, ALL DIRECTORS AND
EXECUTIVE OFFICERS ARE PRESUMED TO BE AFFILIATES) WAS APPROXIMATELY $1.2
BILLION, BASED ON THE CLOSING SALES PRICE OF $ 32 13/16 ON THE NEW YORK STOCK
EXCHANGE.
AS OF MARCH 16, 1998, 36,576,047 ORDINARY SHARES OF THE REGISTRANT WERE
OUTSTANDING.
DOCUMENTS INCORPORATED BY REFERENCE
PORTIONS OF THE PROXY STATEMENT PERTAINING TO THE 1998 ANNUAL MEETING OF
SHAREHOLDERS OF TRITON ENERGY LIMITED ARE INCORPORATED BY REFERENCE INTO PART
III HEREOF.
<PAGE>
Triton Energy Limited hereby amends its Annual Report on Form 10-K for the
year ended December 31, 1997 to include Restated Financial Data Schedules for
the periods indicated below as a result of its adoption of Statement of
Financial Accounting Standards No. 128, "Earnings Per Share."
ITEM 14. EXHIBITS
Exhibit Number Description
27.1 Restated Financial Data Schedule -Three months ended March 31, 1996*
27.2 Restated Financial Data Schedule -Six months ended June 30, 1996*
27.3 Restated Financial Data Schedule -Nine months ended September 30, 1996*
27.4 Restated Financial Data Schedule -Year ended December 31, 1996*
27.5 Restated Financial Data Schedule -Six months ended June 30, 1997*
27.6 Restated Financial Data Schedule -Nine months ended September 30, 1997*
* Filed herewith.
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this Annual Report on
Form 10-K/A to be signed by the undersigned thereunto duly authorized on the
26 day of June, 1998.
TRITON ENERGY LIMITED
By: /s/Robert B. Holland, III.
-----------------------------
Robert B. Holland, III, Senior Vice
President
Pursuant to the requirements of the Securities Exchange Act of 1934, this
Annual Report on Form 10-K/A has been signed below by the following persons on
behalf of the Registrant and in the capacities indicated on the 26 day of
June, 1998.
Signatures Title
---------- -----
* Chairman of the Board and
- ----------------- Chief Executive Officer
(Thomas G. Finck)
* Senior Vice President and
- ----------------- Chief Financial Officer
(Peter Rugg) (Principal Accounting and
Financial Officer)
* Director June 26, 1998
- --------------------
(John P. Lewis)
* Director June 26, 1998
- --------------------
(Michael E. McMahon)
* Director June 26, 1998
- --------------------
(Ernest E. Cook)
* Director June 26, 1998
- --------------------
(Sheldon R. Erikson)
* Director June 26, 1998
- --------------------
(Jesse E. Hendricks)
* Director June 26, 1998
- --------------------
(Fitzgerald S. Hudson)
* Director June 26, 1998
- --------------------
(John R. Huff)
* Director June 26, 1998
- --------------------
(Thomas P. Kellogg, Jr.)
* Director June 26, 1998
- --------------------
(Edwin D. Williamson)
*By: /s/ ROBERT B. HOLLAND, III.
-------------------------------
(Robert B. Holland, III)
Attorney-in-fact
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from
March 31, 1996 financial statements and is qualified in its entirety
by reference to such financial statements. EPS amounts have been
restated to reflect the Company's adoption of Financial Accounting
Standards No. 128, "Earnings Per Share" as of December 31, 1997.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> MAR-31-1996
<CASH> 48,481
<SECURITIES> 26,509
<RECEIVABLES> 36,168
<ALLOWANCES> 810
<INVENTORY> 1,793
<CURRENT-ASSETS> 115,043
<PP&E> 632,408
<DEPRECIATION> 87,470
<TOTAL-ASSETS> 845,446
<CURRENT-LIABILITIES> 44,267
<BONDS> 0
0
8,840
<COMMON> 361
<OTHER-SE> 248,794
<TOTAL-LIABILITY-AND-EQUITY> 845,446
<SALES> 35,781
<TOTAL-REVENUES> 35,781
<CGS> 9,541
<TOTAL-COSTS> 9,541
<OTHER-EXPENSES> 6,401
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> (5,698)
<INCOME-PRETAX> 12,044
<INCOME-TAX> 693
<INCOME-CONTINUING> 11,351
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 11,351
<EPS-PRIMARY> 0.30
<EPS-DILUTED> 0.29
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from
June 30, 1996 financial statements and is qualified in its entirety
by reference to such financial statements. EPS amounts have been
restated to reflect the Company's adoption of Financial Accounting
Standards No. 128, "Earnings Per Share" as of December 31, 1997.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<CASH> 29,285
<SECURITIES> 12,498
<RECEIVABLES> 48,511
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 94,358
<PP&E> 651,017
<DEPRECIATION> 44,918
<TOTAL-ASSETS> 882,281
<CURRENT-LIABILITIES> 64,052
<BONDS> 399,393
0
8,840
<COMMON> 362
<OTHER-SE> 269,611
<TOTAL-LIABILITY-AND-EQUITY> 882,281
<SALES> 66,951
<TOTAL-REVENUES> 66,951
<CGS> 19,163
<TOTAL-COSTS> 19,163
<OTHER-EXPENSES> 12,064
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 9,992
<INCOME-PRETAX> 26,738
<INCOME-TAX> 2,691
<INCOME-CONTINUING> 24,047
<DISCONTINUED> 0
<EXTRAORDINARY> (434)
<CHANGES> 0
<NET-INCOME> 23,613
<EPS-PRIMARY> 0.64
<EPS-DILUTED> 0.62
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from
September 30, 1996 financial statements and is qualified in its
entirety by reference to such financial statements. EPS amounts have
been restated to reflect the Company's adoption of Financial Accounting
Standards No. 128, "Earnings Per Share" as of December 31, 1997.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> SEP-30-1996
<CASH> 51,912
<SECURITIES> 3,956
<RECEIVABLES> 26,335
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 89,563
<PP&E> 709,494
<DEPRECIATION> 49,855
<TOTAL-ASSETS> 913,110
<CURRENT-LIABILITIES> 67,689
<BONDS> 387,299
0
8,516
<COMMON> 363
<OTHER-SE> 311,039
<TOTAL-LIABILITY-AND-EQUITY> 913,110
<SALES> 93,549
<TOTAL-REVENUES> 97,731
<CGS> 28,035
<TOTAL-COSTS> 28,035
<OTHER-EXPENSES> 18,036
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 13,322
<INCOME-PRETAX> 47,635
<INCOME-TAX> 4,039
<INCOME-CONTINUING> 43,596
<DISCONTINUED> 0
<EXTRAORDINARY> (1,196)
<CHANGES> 0
<NET-INCOME> 42,400
<EPS-PRIMARY> 1.16
<EPS-DILUTED> 1.13
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from
December 31, 1996 financial statements and is qualified in its
entirety by reference to such financial statements. EPS amounts have
been restated to reflect the Company's adoption of Financial Accounting
Standards No. 128, "Earnings Per Share" as of December 31, 1997.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<CASH> 11,048
<SECURITIES> 3,866
<RECEIVABLES> 11,526
<ALLOWANCES> 76
<INVENTORY> 0
<CURRENT-ASSETS> 84,360
<PP&E> 773,254
<DEPRECIATION> 96,421
<TOTAL-ASSETS> 914,524
<CURRENT-LIABILITIES> 266,563
<BONDS> 217,078
0
8,515
<COMMON> 363
<OTHER-SE> 291,766
<TOTAL-LIABILITY-AND-EQUITY> 914,524
<SALES> 129,795
<TOTAL-REVENUES> 133,977
<CGS> 36,654
<TOTAL-COSTS> 36,654
<OTHER-EXPENSES> 68,600
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 15,897
<INCOME-PRETAX> 20,945
<INCOME-TAX> (2,860)
<INCOME-CONTINUING> 23,805
<DISCONTINUED> 0
<EXTRAORDINARY> (1,196)
<CHANGES> 0
<NET-INCOME> 22,609
<EPS-PRIMARY> 0.61
<EPS-DILUTED> 0.59
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from
June 30, 1997 financial statements and is qualified in its entirety
by reference to such financial statements. EPS amounts have been
restated to reflect the Company's adoption of Financial Accounting
Standards No. 128, "Earnings Per Share" as of December 31, 1997.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> JUN-30-1997
<CASH> 24,079
<SECURITIES> 653
<RECEIVABLES> 8,583
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 82,811
<PP&E> 830,499
<DEPRECIATION> 68,995
<TOTAL-ASSETS> 1,010,939
<CURRENT-LIABILITIES> 141,263
<BONDS> 461,113
0
7,511
<COMMON> 365
<OTHER-SE> 285,592
<TOTAL-LIABILITY-AND-EQUITY> 1,010,939
<SALES> 66,328
<TOTAL-REVENUES> 66,328
<CGS> 22,133
<TOTAL-COSTS> 22,133
<OTHER-EXPENSES> 15,455
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 12,249
<INCOME-PRETAX> 6,621
<INCOME-TAX> 3,443
<INCOME-CONTINUING> 3,178
<DISCONTINUED> 0
<EXTRAORDINARY> (14,491)
<CHANGES> 0
<NET-INCOME> (11,313)
<EPS-PRIMARY> (0.32)
<EPS-DILUTED> (0.31)
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from
September 30, 1997 financial statements and is qualified in its
entirety by reference to such financial statements. EPS amounts have
been restated to reflect the Company's adoption of Financial Accounting
Standards No. 128, "Earnings Per Share" as of December 31, 1997.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> SEP-30-1997
<CASH> 35,056
<SECURITIES> 0
<RECEIVABLES> 17,357
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 101,072
<PP&E> 887,914
<DEPRECIATION> 77,522
<TOTAL-ASSETS> 1,081,134
<CURRENT-LIABILITIES> 251,017
<BONDS> 425,807
0
7,511
<COMMON> 365
<OTHER-SE> 292,255
<TOTAL-LIABILITY-AND-EQUITY> 1,081,134
<SALES> 103,321
<TOTAL-REVENUES> 103,321
<CGS> 35,252
<TOTAL-COSTS> 35,252
<OTHER-EXPENSES> 24,746
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 17,946
<INCOME-PRETAX> 17,932
<INCOME-TAX> 8,553
<INCOME-CONTINUING> 9,379
<DISCONTINUED> 0
<EXTRAORDINARY> (14,491)
<CHANGES> 0
<NET-INCOME> (5,112)
<EPS-PRIMARY> (0.15)
<EPS-DILUTED> (0.15)
</TABLE>
