<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934*
BRIGHAM EXPLORATION COMPANY
(NAME OF ISSUER)
COMMON STOCK, $.01 PAR VALUE PER SHARE
(TITLE OF CLASS OF SECURITIES)
109178-10-3
(CUSIP NUMBER)
ROBERT H. CHANEY
R. CHANEY & PARTNERS III L.P.
909 FANNIN, SUITE 1275
TWO HOUSTON CENTER
HOUSTON, TEXAS 77010-1006
(713) 753-1315
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)
MAY 14, 1997
(DATE OF EVENT WHICH REQUIRES FILING
OF THIS STATEMENT)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box. [ ]
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*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
disclosures provided in a prior cover page.
The information required on 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).
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CUSIP NO. 109178-10-3 SCHEDULE 13D
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(1) Names of Reporting Persons/S.S. or I.R.S. Identification Nos. of Above Persons
R. CHANEY & PARTNERS III L.P.
- -------------------------------------------------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X]
(b) [ ]
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(3) SEC Use Only
- -------------------------------------------------------------------------------------------------------------------------
(4) Source of Funds (See Instructions) OO (See Item 3)
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(5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ]
- -------------------------------------------------------------------------------------------------------------------------
(6) Citizenship or Place of Organization R. CHANEY & PARTNERS III L.P. IS A LIMITED PARTNERSHIP
FORMED UNDER THE LAWS OF THE STATE OF DELAWARE.
- -------------------------------------------------------------------------------------------------------------------------
(7) Sole Voting Power 0
---------------------------------------------------------------------------------------
Number of Shares
Beneficially (8) Shared Voting Power 900,000(1)
Owned By ---------------------------------------------------------------------------------------
Each
Reporting (9) Sole Dispositive Power 0
Person With ---------------------------------------------------------------------------------------
(10) Shared Dispositive Power 900,000(1)
- -------------------------------------------------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person 900,000
- -------------------------------------------------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
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(13) Percent of Class Represented by Amount in Row (11) 7.3%(2)
- -------------------------------------------------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) PN
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</TABLE>
___________________
(1) Voting and dispositive power is shared among the Partnership, the
General Partner, and the Sole Shareholder (defined in Item 2).
(2) Based on 12,253,574 shares of Common Stock believed to be issued and
outstanding as of May 16, 1997.
Page 2 of 9
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CUSIP NO. 109178-10-3 SCHEDULE 13D
- -------------------------------------------------------------------------------------------------------------------------
(1) Names of Reporting Persons/S.S. or I.R.S. Identification Nos. of Above Persons
R. CHANEY & PARTNERS, INC.
- -------------------------------------------------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------------------------------------------------
(4) Source of Funds (See Instructions) OO (See Item 3)
- -------------------------------------------------------------------------------------------------------------------------
(5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ]
- -------------------------------------------------------------------------------------------------------------------------
(6) Citizenship or Place of Organization R. CHANEY & PARTNERS, INC. IS A CORPORATION ORGANIZED UNDER THE LAWS OF
THE STATE OF TEXAS.
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(7) Sole Voting Power 0
---------------------------------------------------------------------------------------
Number of Shares
Beneficially (8) Shared Voting Power 900,000(1)
Owned By ---------------------------------------------------------------------------------------
Each
Reporting (9) Sole Dispositive Power 0
Person With ---------------------------------------------------------------------------------------
(10) Shared Dispositive Power 900,000(1)
- -------------------------------------------------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person 900,000
- -------------------------------------------------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ]
- -------------------------------------------------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 7.3%(2)
- -------------------------------------------------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
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</TABLE>
___________________
(1) Voting and dispositive power is shared among the Partnership, the
General Partner, and the Sole Shareholder (defined in Item 2).
(2) Based on 12,253,574 shares of Common Stock believed to be issued and
outstanding as of May 16, 1997.
Page 3 of 9
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CUSIP NO. 109178-10-3 SCHEDULE 13D
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(1) Names of Reporting Persons/S.S. or I.R.S. Identification Nos. of Above Persons
ROBERT H. CHANEY
- -------------------------------------------------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X]
(b) [ ]
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(3) SEC Use Only
- -------------------------------------------------------------------------------------------------------------------------
(4) Source of Funds (See Instructions) OO (See Item 3)
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(5) Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ]
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(6) Citizenship or Place of Organization ROBERT H. CHANEY IS A CITIZEN OF THE UNITED STATES.
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(7) Sole Voting Power 0
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Number of Shares
Beneficially (8) Shared Voting Power 900,000(1)
Owned By ---------------------------------------------------------------------------------------
Each
Reporting (9) Sole Dispositive Power 0
Person With ---------------------------------------------------------------------------------------
(10) Shared Dispositive Power 900,000(1)
- -------------------------------------------------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person 900,000
- -------------------------------------------------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ]
- -------------------------------------------------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11) 7.3%(2)
- -------------------------------------------------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) IN
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</TABLE>
(1) Voting and dispositive power is shared among the Partnership, the
General Partner, and the Sole Shareholder (defined in Item 2).
(2) Based on 12,253,574 shares of Common Stock believed to be issued and
outstanding as of May 16, 1997.
Page 4 of 9
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ITEM 1. SECURITY AND ISSUER
The class of equity securities to which this statement relates is
common stock, $.01 par value per share (the "Common Stock") of Brigham
Exploration Company, a Delaware corporation (the "Issuer"). The address of the
principal executive offices of the Issuer is 5949 Sherry Lane, Suite 1616,
Dallas, TX 75225.
ITEM 2. IDENTITY AND BACKGROUND
Item 2(a)-(c)
R. Chaney & Partners III L.P. is a limited partnership formed under
the laws of Delaware (the "Partnership"). Its principal business is
investments. The Partnership's principal business and office address is 909
Fannin, Suite 1275, Two Houston Center, Houston, Texas 77010-1006.
R. Chaney & Partners, Inc. is the sole general partner of the
Partnership and is a corporation organized under the laws of the State of Texas
(the "General Partner"). Its principal business is investments. The General
Partner's principal business and office address is 909 Fannin, Suite 1275, Two
Houston Center, Houston, Texas 77010-1006.
The sole shareholder of the General Partner is Robert H. Chaney (the
"Sole Shareholder"). Information regarding the Sole Shareholder appears in the
accompanying table.
The name, business address, present principal occupation or employment
of each of the executive officers and directors of the General Partner and the
name, principal business and address of any corporation or other organization
in which such employment is conducted, are set forth below:
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Executive Officers and Directors of the General Partner
====================================================================================================
Name, Principal Business
Address of Organization in
Name and Capacity in Principal which Principal Occupation
Business Address Which Serves Occupation is Conducted
- ----------------------------------------------------------------------------------------------------
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Robert H. Chaney President, Chief President and R. Chaney & Co., Inc.
909 Fannin, Suite 1275 Executive Chief Executive 909 Fannin, Suite 1275
Two Houston Center Officer, and Officer Two Houston Center
Houston, Texas 77010-1006 Chairman of the Houston, Texas 77010-1006
Board
- ----------------------------------------------------------------------------------------------------
Jason Whitley Executive Vice Executive Vice R. Chaney & Co., Inc.
909 Fannin, Suite 1275 President President 909 Fannin, Suite 1275
Houston Center Two Houston Center
Houston, Texas 77010-1006 Houston, Texas 77010-1006
- ----------------------------------------------------------------------------------------------------
Curtis F. Harrell Executive Vice Executive Vice R. Chaney & Co., Inc.
909 Fannin, Suite 1275 President President 909 Fannin, Suite 1275
Two Houston Center Two Houston Center
Houston, Texas 77010-1006 Houston, Texas 77010-1006
- ----------------------------------------------------------------------------------------------------
Paula Pierce Secretary, Secretary, R. Chaney & Co., Inc.
909 Fannin, Suite 1275 Treasurer, and Treasurer, and 909 Fannin, Suite 1275
Two Houston Center Vice President Vice President Two Houston Center
Houston, Texas 77010-1006 Administration Administration Houston, Texas 77010-1006
====================================================================================================
</TABLE>
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Item 2(d)
During the past five years, none of the entities or individuals
identified in this Item 2 has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors).
Item 2(e)
During the last five years, none of the entities or individuals
identified in this Item 2 was a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or finding any violation with respect to such
laws.
Item 2(f)
The Partnership was formed under the laws of the State of Delaware.
The corporate General Partner is incorporated under the laws of the State of
Texas. The individuals identified in this Item 2 are all citizens of the
United States of America.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The Partnership purchased 900,000 shares of Common Stock of the Issuer
at a price per share of $8.00, for a total purchase price of $7,200,000,
excluding any brokerage commissions. The Partnership obtained the funds
necessary to purchase the shares from contributions from the General Partner
and the limited partners of the Partnership.
ITEM 4. PURPOSE OF TRANSACTION
The Partnership, the General Partner, and the Sole Shareholder
acquired the securities for investment purposes. The Partnership, the General
Partner, and the Sole Shareholder reserve the right from time to time to
purchase additional shares of Common Stock on the open market or in privately
negotiated transactions, or otherwise, but have no present intention to do so.
The Partnership, the General Partner and the Sole Shareholder have no present
intention of selling any shares of Common Stock, but reserve the right to do
so, in whole and in part at any time, in open market transactions, privately
negotiated transactions, or otherwise. The Partnership, the General Partner,
and/or the Sole Shareholder have no present plans or proposals that relate to
or would result in any of the actions specified in clauses (a) through (j) of
Item 4 of Schedule 13D.
Page 6 of 9
<PAGE> 7
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5(a)
The Partnership. The Partnership beneficially owns 900,000 shares of
Common Stock. The number of shares of Common Stock believed to be issued and
outstanding as of May 16, 1997 for purposes of this Schedule 13D is 12,253,574
shares. The Partnership is deemed to beneficially own 900,000 shares out of
the 12,253,574 shares, or 7.3 percent, of the issued and outstanding shares of
Common Stock.
The General Partner. The General Partner as the sole general partner
of the Partnership may be deemed to be the beneficial owner of all 900,000
shares of Common Stock beneficially owned by the Partnership that constitute
approximately 7.3 percent of the issued and outstanding shares of Common Stock.
Sole Shareholder. The Sole Shareholder of the General Partner of the
Partnership may be deemed to be the beneficial owner of all 900,000 shares of
Common Stock beneficially owned by the Partnership that constitute
approximately 7.3 percent of the issued and outstanding shares of Common Stock.
Executive Officers and Director of the General Partner. Except as
otherwise described herein, none of the executive officers or director own any
of the Issuer's Common Stock.
Item 5(b)
The Partnership, the General Partner and the Sole Shareholder share
voting and dispositive power of these 900,000 shares.
Item 5(c)
Except as otherwise described herein, none of the entities or
individuals described in Item 2 has effected any transaction in the Common
Stock of the Issuer during this time period commencing 60 days preceding the
date of the event that required the filing of this Schedule 13D through the
date hereof.
Item 5(d)
No person other than the Partnership, the General Partner, or the Sole
Shareholder has the right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of, Common Stock of the Issuer
with respect to which this filing is made.
Item 5(e)
Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
Except as set forth in the Exhibits filed herewith, there are no
contracts, arrangements, understandings or relationships (legal or otherwise)
between any of the individuals or entities described in Item 2 or between such
persons and any other person with respect to the shares of Common Stock deemed
to be beneficially owned by the Partnership, the General Partner, and the Sole
Shareholder.
Page 7 of 9
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ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
The information required by this Item 7 is set forth in the Index to
Exhibits accompanying this Schedule 13D filing.
Page 8 of 9
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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.
May 21, 1997
R. CHANEY & PARTNERS III L.P.
By: R. CHANEY & PARTNERS, INC., General
Partner
By: /s/ Robert H. Chaney
-----------------------------------
Robert H. Chaney,
President and
Chief Executive Officer
R. CHANEY & PARTNERS, INC.
By: /s/ Robert H. Chaney
----------------------------------------
Robert H. Chaney,
President and
Chief Executive Officer
/s/ Robert H. Chaney
---------------------------------------------
Robert H. Chaney,
Sole Shareholder of R. Chaney & Partners, Inc.
Page 9 of 9
<PAGE> 10
INDEX TO EXHIBITS
Exhibit No. Description
- ----------- -----------
10.1 Joint Reporting Agreement dated as of May 21, 1997 by and among
R. Chaney Partners III L.P., R. Chaney & Partners, Inc., and
Robert H. Chaney.
<PAGE> 1
JOINT REPORTING AGREEMENT
In consideration of the mutual covenants herein contained, each of the
parties hereto represents to and agrees with the other parties as follows:
1. Such party acknowledges that it is required and eligible to
file a statement on Schedule 13D pertaining to the common stock, par value $.01
per share ("Common Stock") of Brigham Exploration Company (the "Issuer"), to
which this agreement is an exhibit, for the filing of the information contained
therein.
2. Such party is responsible for timely filing of such statement
and any amendments thereto, and for the completeness and accuracy of the
information concerning such party contained therein; provided that no such
party is responsible for the completeness or accuracy of the information
concerning the other party making the filing, unless such party knows or has
reason to believe that such information is inaccurate.
3. Such party agrees that such statement is filed by and on
behalf of each such party and that any amendment thereto will be filed on
behalf of each such party.
This agreement may be executed in one or more counterparts, each of
which shall be deemed to be an original instrument, but all of such
counterparts taken together shall constitute but one agreement.
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Dated: May 21, 1997
R. CHANEY & PARTNERS III L.P.
By: R. CHANEY & PARTNERS, INC., General Partner
By: /s/ Robert H. Chaney
----------------------------------------
Robert H. Chaney,
President and Chief Executive Officer
R. CHANEY & PARTNERS, INC.
By: /s/ Robert H. Chaney
----------------------------------
Robert H. Chaney,
President and
Chief Executive Officer
/s/ Robert H. Chaney
---------------------------------------
Robert H. Chaney,
Sole Shareholder of
R. Chaney & Co., Inc.
