<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)
Dril-Quip, Inc.
- -------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- -------------------------------------------------------------------------------
(Title of Class of Securities)
262037 10 4
--------------------------------------------
(CUSIP Number)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[X] Rule 13d-1(d)
*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).
<PAGE> 2
<TABLE>
<CAPTION>
CUSIP NO. 262037 10 4 PAGE 2 OF 8 PAGES
- ---------------------- -----------------
<S> <C>
================================================================================
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
Gary W. Loveless
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
1,108,400
NUMBER OF --------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY None
OWNED BY --------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 1,108,400
PERSON --------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
None
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,108,400
- --------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.4%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IN
================================================================================
</TABLE>
-2-
<PAGE> 3
<TABLE>
<CAPTION>
CUSIP NO. 262037 10 4 PAGE 3 OF 8 PAGES
- ---------------------- -----------------
<S> <C>
================================================================================
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
Loveless Enterprises, Ltd.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
1,108,148
NUMBER OF --------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY None
OWNED BY --------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 1,108,148
PERSON --------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
None
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,108,148
- --------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.4%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
PN
================================================================================
</TABLE>
-3-
<PAGE> 4
ITEM 1.
Item 1(a) Name of Issuer: Dril-Quip, Inc.
Item 1(b) Address of Issuer's 13550 Hempstead Highway
Principal Executive Offices: Houston, Texas 77040
ITEM 2.
Item 2(a) Name of Person Filing: Gary W. Loveless and Loveless
Enterprises, Ltd.
Item 2(b) Address of Principal 13550 Hempstead Highway
Business Office: Houston, Texas 77040
Item 2(c) Citizenship: U.S. (Loveless Enterprises, Ltd.
is a limited partnership
organized under the laws of the
State of Texas)
Item 2(d) Title of Class of Securities: Common Stock
Item 2(e) CUSIP Number: 262037 10 4
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE
13d-1(b), OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON
FILING IS A:
(a) [ ] Broker or dealer registered under Section 15 of the
Act.
(b) [ ] Bank as defined in Section 3(a)(6) of the Act.
(c) [ ] Insurance company as defined in Section 3(a)(19) of
the Act.
(d) [ ] Investment company registered under Section 8 of the
Investment Company Act of 1940.
(e) [ ] Investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E).
(f) [ ] Employee benefit plan or endowment fund in accordance
with Section 240.13d-1(b)(1)(ii)(F).
(g) [ ] Parent holding company or control person, in
accordance with Section 240.13d-1(b)(ii)(G).
(h) [ ] Savings Associations as defined in Section 3(b) of
the Federal Deposit Insurance Act.
-4-
<PAGE> 5
(i) [ ] Church plan that is excluded from the definition of
an investment company under Section 3(c)(14) of the
Investment Company Act of 1940.
(j) [ ] Group, in accordance with Section
240.13d-1(b)(1)(ii)(J).
ITEM 4. OWNERSHIP
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount Beneficially Owned by Gary W. Loveless: 1,149,600(1)
(b) Percent of Class Beneficially Owned by Gary W. Loveless: 6.7%(1)
(c) Number of shares as to which Gary W. Loveless has:
(i) Sole power to vote or to direct the vote: 1,149,600(1)
(ii) Shared power to vote or to direct the vote: None
(iii) Sole power to dispose or to direct the disposition of: 1,149,600(1)
(iv) Shared power to dispose or to direct the disposition: None
(d) Amount Beneficially Owned by Loveless Enterprises, Ltd.: 1,149,348
(e) Percent of Class Beneficially Owned by Loveless Enterprises, Ltd.: 6.7%
(f) Number of shares as to which Loveless Enterprises, Ltd. has:
(i) Sole power to vote or to direct the vote: 1,149,348
(ii) Shared power to vote or to direct the vote: None
(iii) Sole power to dispose or to direct the disposition of: 1,149,348
(iv) Shared power to dispose or to direct the disposition: None
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
Not Applicable
-5-
<PAGE> 6
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
Not Applicable
-6-
<PAGE> 7
Explanation of Responses:
(1) Includes (i) 252 shares of Common Stock owned directly by Mr.
Loveless and (ii) 1,108,148 shares of Common Stock owned directly by Loveless
Enterprises, Ltd., as to which Mr. Loveless, as sole manager of Loveless
Interests, L.L.C., its general partner, exercises sole voting and dispositive
power. Because Mr. Loveless exercises sole voting and dispositive power with
respect to these shares, he may be deemed to be an indirect beneficial owner of
these shares for purposes of Rule 13d-3.
-7-
<PAGE> 8
SIGNATURE
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.
Dated: February 12, 1999
/s/ GARY W. LOVELESS
-----------------------------------
Gary W. Loveless
LOVELESS ENTERPRISES, LTD.
BY: LOVELESS INTERESTS, L.L.C.,
its General Partner
By: /s/ GARY W. LOVELESS
--------------------------------
Gary W. Loveless, Manager
-8-
<PAGE> 9
AGREEMENT
The undersigned hereby agree in writing pursuant to the provisions of
Rule 13d-1(f)(1)(iii) under the Securities Exchange Act of 1934, as amended,
that the Schedule 13G to which this Agreement is attached is filed on behalf of
each of the undersigned.
/s/ GARY W. LOVELESS
-----------------------------------
Gary W. Loveless
LOVELESS ENTERPRISES, LTD.
BY: LOVELESS INTERESTS, L.L.C.,
its General Partner
By: /s/ GARY W. LOVELESS
--------------------------------
Gary W. Loveless, Manager
