<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 1)*
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)
NOVEMBER 6, 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).
<PAGE> 2
SCHEDULE 13D
CUSIP NO. 109178-10-3 PAGE 2 OF 8 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
R. CHANEY & PARTNERS III L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00 (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 III L.P. IS A LIMITED PARTNERSHIP FORMED UNDER THE
LAWS OF THE STATE OF DELAWARE.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
611,500(1)
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
611,500(1)
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
611,500
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.99%(2)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
- --------------------
1 Voting and dispositive power is shared among the Partnership, the General
Partner, and the Sole Shareholder (defined in Item 2).
2 Based up on 12,253,574 shares of Common Stock as reported in Issuer's Form
10-Q for the quarter ended June 30, 1997.
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDED BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND SIGNATURE ATTESTATION.
<PAGE> 3
SCHEDULE 13D
CUSIP NO. 109178-10-3 PAGE 3 OF 8 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
R. CHANEY & PARTNERS, INC.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00 (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.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
611,500(1)
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
611,500(1)
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
611,500
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.99%(2)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
- -------------------------
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 as reported in Issuer's Form
10-Q for the quarter ended June 30, 1997.
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDED BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND SIGNATURE ATTESTATION.
<PAGE> 4
SCHEDULE 13D
CUSIP NO. 109178-10-3 PAGE 4 OF 8 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ROBERT H. CHANEY
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00 (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
ROBERT H. CHANEY IS A CITIZEN OF THE UNITED STATES.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
611,500(1)
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
611,500(1)
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
611,500
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.99%(2)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
- -------------------------
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 as reported in Issuer's Form
10-Q for the quarter ended June 30, 1997.
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDED BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND SIGNATURE ATTESTATION.
<PAGE> 5
The Schedule 13D filed by R. Chaney & Partners III L.P. (the
"Partnership"), R. Chaney and Partners, Inc. (the "General Partner") and Robert
H. Chaney (the "Sole Shareholder") with the Securities and Exchange Commission
on May 27, 1997, is hereby amended as follows:
ITEM 1. SECURITY AND ISSUER
No modification.
ITEM 2. IDENTITY AND BACKGROUND
No. modification.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
No modification.
ITEM 4. PURPOSE OF TRANSACTION
No modification.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5(a)
The Partnership. The Partnership beneficially owns 611,500 shares of
Common Stock. The Partnership is deemed to beneficially own 611,500 shares out
of the 12,253,574 shares, or 4.99 percent, of the issued and outstanding shares
of Common Stock (based upon the 12,253,574 shares of Common Stock reported as
outstanding in the Issuer's Form 10-Q for the quarter ended June 30, 1997).
The General Partner. The General Partner as the sole general partner of
the Partnership may be deemed to be the beneficial owner of all 611,500 shares
of Common Stock beneficially owned by the Partnership that constitute
approximately 4.99 percent of the issued and outstanding shares of Common Stock
(based upon the 12,253,574 shares of Common Stock reported as outstanding in the
Issuer's Form 10-Q for the quarter ended June 30, 1997).
Sole Shareholder. The Sole Shareholder of the General Partner of the
Partnership may be deemed to be the beneficial owner of all 611,500 shares of
Common Stock beneficially owned by the Partnership that constitute approximately
4.99 percent of the issued and outstanding shares of Common Stock (based upon
the 12,253,574 shares of Common Stock reported as outstanding in the Issuer's
Form 10-Q for the quarter ended June 30, 1997).
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.
Page 5 of 8
<PAGE> 6
Item 5(b)
The Partnership, the General Partner and the Sole Shareholder share
voting and dispositive power of these 611,500 shares.
Item 5(c)
The Partnership effected the following sales of Common Stock in open
market transactions on the Nasdaq National Market:
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------
Date Number of Shares Price Per Share
<S> <C> <C>
- ------------------------------------------------------------------------
10/09/97 35,000 $14.11
- ------------------------------------------------------------------------
10/10/97 5,000 14.25
- ------------------------------------------------------------------------
10/15/97 30,000 14.40
- ------------------------------------------------------------------------
10/16/97 5,000 14.63
- ------------------------------------------------------------------------
10/20/97 5,000 14.78
- ------------------------------------------------------------------------
10/21/97 24,000 15.19
- ------------------------------------------------------------------------
10/22/97 5,000 16.63
- ------------------------------------------------------------------------
10/23/97 2,500 16.50
- ------------------------------------------------------------------------
11/03/97 7,000 16.45
- ------------------------------------------------------------------------
11/03/97 2,500 16.50
- ------------------------------------------------------------------------
11/05/97 12,500 16.20
- ------------------------------------------------------------------------
11/06/97 100,000 16.13
- ------------------------------------------------------------------------
11/07/97 10,000 16.25
- ------------------------------------------------------------------------
11/10/97 5,000 16.25
- ------------------------------------------------------------------------
11/11/97 10,000 16.00
- ------------------------------------------------------------------------
11/12/97 30,000 16.00
- ------------------------------------------------------------------------
288,500
- ------------------------------------------------------------------------
</TABLE>
Page 6 of 8
<PAGE> 7
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)
The Partnership, the General Partner and the Sole Shareholders ceased
to be beneficial owner of more than five percent of the Common Stock of the
Issuer on November 12, 1997.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
No modification.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
No modification.
Page 7 of 8
<PAGE> 8
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.
November 14, 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 8 of 8
<PAGE> 9
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
Exhibit No. Description
----------- -----------
<S> <C>
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 (incorporated by reference to
Schedule 13D filed by the reporting persons
on May 27, 1997).
</TABLE>
