WEATHERFORD ENTERRA INC
SC 13D/A, 1998-02-18
EQUIPMENT RENTAL & LEASING, NEC
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<PAGE>   1

                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549
                                      
                                      
                                 SCHEDULE 13D/A
                                AMENDMENT NO. 3
                                      
                  UNDER THE SECURITIES EXCHANGE ACT OF 1934
                                      

                           Weatherford Enterra, Inc.
- --------------------------------------------------------------------------------
                                (Name of Issuer)


                     Common Stock, Par Value $.01 per share
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                   947071106
- --------------------------------------------------------------------------------
                                 (CUSIP Number)

               c/o First Reserve Corporation, 475 Steamboat Road,
                              Greenwich, CT 06830
                                 (203) 661-6601
- --------------------------------------------------------------------------------
          (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 Statement because of 
Rule 13d-1(b)(3) or (4), check the following box:  [ ]

Check the following box if a fee is being paid with the statement: [ ]



<PAGE>   2

CUSIP NO. 947071106               SCHEDULE 13D/A
- --------------------------------------------------------------------------------

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

    First Reserve Corporation
    I.R.S. No.: 06-1210123
- --------------------------------------------------------------------------------
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         (a  [ ]
                                                                         (b  [ ]
- --------------------------------------------------------------------------------
3   SEC USE ONLY


- --------------------------------------------------------------------------------
4   SOURCE OF FUNDS*

    N/A
- --------------------------------------------------------------------------------
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT 
    TO ITEMS 2(d) OR 2(e)                                                    [ ]

- --------------------------------------------------------------------------------
6   CITIZENSHIP OR PLACE OF ORGANIZATION

    Delaware

- --------------------------------------------------------------------------------
                7   SOLE VOTING POWER
  NUMBER OF
   SHARES           6,569,306
BENEFICIALLY   -----------------------------------------------------------------
  OWNED BY      8   SHARED VOTING POWER
   EACH            
 REPORTING          0
  PERSON       -----------------------------------------------------------------
   WITH         9   SOLE DISPOSITIVE POWER

                    6,569,306
               -----------------------------------------------------------------
               10   SHARED DISPOSITIVE POWER
     
                    0
- --------------------------------------------------------------------------------
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     6,569,306
- --------------------------------------------------------------------------------
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES 
     CERTAIN SHARES*                                                         [ ]

- --------------------------------------------------------------------------------
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11

     12.50%
- --------------------------------------------------------------------------------
14   TYPE OF REPORTING PERSON*

     CO
- --------------------------------------------------------------------------------
                    *SEE INSTRUCTIONS BEFORE FILLING OUT!
         INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
     (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
                                      
                                      
                                                                   PAGE 2 OF 11
<PAGE>   3

CUSIP NO. 947071106               SCHEDULE 13D/A
- --------------------------------------------------------------------------------

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

    American Gas & Oil Investors, Limited Partnership
    I.R.S. No.: 13-3077100
- --------------------------------------------------------------------------------
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         (a  [ ]
                                                                         (b  [X]
- --------------------------------------------------------------------------------
3   SEC USE ONLY


- --------------------------------------------------------------------------------
4   SOURCE OF FUNDS*

    N/A
- --------------------------------------------------------------------------------
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT 
    TO ITEMS 2(d) OR 2(e)                                                    [ ]

- --------------------------------------------------------------------------------
6   CITIZENSHIP OR PLACE OF ORGANIZATION

    New York

- --------------------------------------------------------------------------------
                7   SOLE VOTING POWER
  NUMBER OF
   SHARES           1,360,000
BENEFICIALLY   -----------------------------------------------------------------
  OWNED BY      8   SHARED VOTING POWER
   EACH            
 REPORTING          0
  PERSON       -----------------------------------------------------------------
   WITH         9   SOLE DISPOSITIVE POWER

                    1,360,000
               -----------------------------------------------------------------
               10   SHARED DISPOSITIVE POWER
     
                    0
- --------------------------------------------------------------------------------
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     1,360,000
- --------------------------------------------------------------------------------
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES 
     CERTAIN SHARES*                                                         [ ]

- --------------------------------------------------------------------------------
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11

     2.59% 
- --------------------------------------------------------------------------------
14   TYPE OF REPORTING PERSON*

     PN
- --------------------------------------------------------------------------------
                    *SEE INSTRUCTIONS BEFORE FILLING OUT!
         INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
     (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
                                      

                                                                   PAGE 3 OF 11
<PAGE>   4

CUSIP NO. 947071106               SCHEDULE 13D/A
- --------------------------------------------------------------------------------

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

    AmGO II, Limited Partnership
    I.R.S. No.: 13-3149992
- --------------------------------------------------------------------------------
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         (a [ ]
                                                                         (b [X]
- --------------------------------------------------------------------------------
3   SEC USE ONLY


- --------------------------------------------------------------------------------
4   SOURCE OF FUNDS*

    N/A
- --------------------------------------------------------------------------------
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT 
    TO ITEMS 2(d) OR 2(e)                                                    [ ]

- --------------------------------------------------------------------------------
6   CITIZENSHIP OR PLACE OF ORGANIZATION

    New York

- --------------------------------------------------------------------------------
                7   SOLE VOTING POWER
  NUMBER OF
   SHARES           850,000    
BENEFICIALLY   -----------------------------------------------------------------
  OWNED BY      8   SHARED VOTING POWER
   EACH            
 REPORTING          0
  PERSON       -----------------------------------------------------------------
   WITH         9   SOLE DISPOSITIVE POWER

                    850,000    
               -----------------------------------------------------------------
               10   SHARED DISPOSITIVE POWER
     
                    0
- --------------------------------------------------------------------------------
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     850,000    
- --------------------------------------------------------------------------------
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES 
     CERTAIN SHARES*                                                         [ ]

- --------------------------------------------------------------------------------
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11

     1.62% 
- --------------------------------------------------------------------------------
14   TYPE OF REPORTING PERSON*

     PN
- --------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
          INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
      (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


                                                                   PAGE 4 OF 11
<PAGE>   5

CUSIP NO. 947071106               SCHEDULE 13D/A
- --------------------------------------------------------------------------------

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

    First Reserve Secured Energy Assets Fund, Limited Partnership
    I.R.S. No.: 06-1232433
- --------------------------------------------------------------------------------
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         (a  [ ]
                                                                         (b  [X]
- --------------------------------------------------------------------------------
3   SEC USE ONLY


- --------------------------------------------------------------------------------
4   SOURCE OF FUNDS*

    N/A
- --------------------------------------------------------------------------------
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT 
    TO ITEMS 2(d) OR 2(e)                                                    [ ]

- --------------------------------------------------------------------------------
6   CITIZENSHIP OR PLACE OF ORGANIZATION

    Delaware 

- --------------------------------------------------------------------------------
                7   SOLE VOTING POWER
  NUMBER OF
   SHARES           650,000    
BENEFICIALLY   -----------------------------------------------------------------
  OWNED BY      8   SHARED VOTING POWER
   EACH            
 REPORTING          0
  PERSON       -----------------------------------------------------------------
   WITH         9   SOLE DISPOSITIVE POWER

                    650,000    
               -----------------------------------------------------------------
               10   SHARED DISPOSITIVE POWER
     
                    0
- --------------------------------------------------------------------------------
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     650,000    
- --------------------------------------------------------------------------------
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES 
     CERTAIN SHARES*                                                         [ ]

- --------------------------------------------------------------------------------
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 

     1.24% 
- --------------------------------------------------------------------------------
14   TYPE OF REPORTING PERSON*

     PN
- --------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
          INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
      (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


                                                                   PAGE 5 OF 11
<PAGE>   6

CUSIP NO. 947071106               SCHEDULE 13D/A
- --------------------------------------------------------------------------------

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

    First Reserve Fund V, Limited Partnership
    I.R.S. No.: 06-1295657
- --------------------------------------------------------------------------------
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         (a  [ ]
                                                                         (b  [X]
- --------------------------------------------------------------------------------
3   SEC USE ONLY


- --------------------------------------------------------------------------------
4   SOURCE OF FUNDS*

    N/A
- --------------------------------------------------------------------------------
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT 
    TO ITEMS 2(d) OR 2(e)                                                    [ ]

- --------------------------------------------------------------------------------
6   CITIZENSHIP OR PLACE OF ORGANIZATION

    Delaware

- --------------------------------------------------------------------------------
                7   SOLE VOTING POWER
  NUMBER OF
   SHARES           2,300,000  
BENEFICIALLY   -----------------------------------------------------------------
  OWNED BY      8   SHARED VOTING POWER
   EACH            
 REPORTING          0
  PERSON       -----------------------------------------------------------------
   WITH         9   SOLE DISPOSITIVE POWER

                    2,300,000  
               -----------------------------------------------------------------
               10   SHARED DISPOSITIVE POWER
     
                    0
- --------------------------------------------------------------------------------
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     2,300,000  
- --------------------------------------------------------------------------------
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES 
     CERTAIN SHARES*                                                         [ ]

- --------------------------------------------------------------------------------
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11  

     4.38% 
- --------------------------------------------------------------------------------
14   TYPE OF REPORTING PERSON*

     PN
- --------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
          INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
     (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


                                                                   PAGE 6 OF 11
<PAGE>   7

CUSIP NO. 947071106               SCHEDULE 13D/A
- --------------------------------------------------------------------------------

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

    First Reserve Fund V-2, Limited Partnership
    I.R.S. No.: 06-6351960
- --------------------------------------------------------------------------------
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         (a  [ ]
                                                                         (b  [X]
- --------------------------------------------------------------------------------
3   SEC USE ONLY


- --------------------------------------------------------------------------------
4   SOURCE OF FUNDS*

    N/A
- --------------------------------------------------------------------------------
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT 
    TO ITEMS 2(d) OR 2(e)                                                    [ ]

- --------------------------------------------------------------------------------
6   CITIZENSHIP OR PLACE OF ORGANIZATION

    Delaware

- --------------------------------------------------------------------------------
                7   SOLE VOTING POWER
  NUMBER OF
   SHARES           640,000    
BENEFICIALLY   -----------------------------------------------------------------
  OWNED BY      8   SHARED VOTING POWER
   EACH            
 REPORTING          0
  PERSON       -----------------------------------------------------------------
   WITH         9   SOLE DISPOSITIVE POWER

                    640,000    
               -----------------------------------------------------------------
               10   SHARED DISPOSITIVE POWER
     
                    0
- --------------------------------------------------------------------------------
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     640,000    
- --------------------------------------------------------------------------------
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES 
     CERTAIN SHARES*                                                         [ ]

- --------------------------------------------------------------------------------
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11  

     1.22% 
- --------------------------------------------------------------------------------
14   TYPE OF REPORTING PERSON*

     PN
- --------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
          INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
     (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


                                                                   PAGE 7 OF 11
<PAGE>   8

CUSIP NO. 947071106               SCHEDULE 13D/A
- --------------------------------------------------------------------------------

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

    First Reserve Fund VI, Limited Partnership
    I.R.S. No.: 06-1334650
- --------------------------------------------------------------------------------
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         (a  [ ]
                                                                         (b  [X]
- --------------------------------------------------------------------------------
3   SEC USE ONLY


- --------------------------------------------------------------------------------
4   SOURCE OF FUNDS*

    N/A
- --------------------------------------------------------------------------------
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT 
    TO ITEMS 2(d) OR 2(e)                                                    [ ]

- --------------------------------------------------------------------------------
6   CITIZENSHIP OR PLACE OF ORGANIZATION

    Delaware

- --------------------------------------------------------------------------------
                7   SOLE VOTING POWER
  NUMBER OF
   SHARES           735,371    
BENEFICIALLY   -----------------------------------------------------------------
  OWNED BY      8   SHARED VOTING POWER
   EACH            
 REPORTING          0
  PERSON       -----------------------------------------------------------------
   WITH         9   SOLE DISPOSITIVE POWER

                    735,371    
               -----------------------------------------------------------------
               10   SHARED DISPOSITIVE POWER
     
                    0
- --------------------------------------------------------------------------------
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     735,371    
- --------------------------------------------------------------------------------
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES 
     CERTAIN SHARES*                                                         [ ]

- --------------------------------------------------------------------------------
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11  

     1.40% 
- --------------------------------------------------------------------------------
14   TYPE OF REPORTING PERSON*

     PN
- --------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
          INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
     (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.


                                                                   PAGE 8 OF 11
<PAGE>   9
ITEM 1.   SECURITY AND ISSUER.

     This Statement on Schedule 13D (the "Schedule 13D"), filed pursuant to Rule
13d-1 of the Rules and Regulations under the Securities Exchange Act of 1934, as
amended, by American Gas & Oil Investors, Limited Partnership ("Fund I"), AmGO
II, Limited Partnership ("Fund II"), First Reserve Secured Energy Assets Fund,
Limited Partnership ("Fund IV"), First Reserve Fund V, Limited Partnership
("Fund V"), First Reserve Fund V-2, Limited Partnership ("Fund V-2") and First
Reserve Fund VI, Limited Partnership ("Fund VI", and together with Fund I, Fund
II, Fund IV, Fund V and Fund V-2, the "Funds") and by First Reserve Corporation
("First Reserve") with respect to the common shares ("the Shares") of
Weatherford Enterra, Inc., a Delaware corporation (the "Issuer"), is hereby
supplemented and amended as set forth below.

ITEM 5.   INTEREST IN SECURITIES OF THE ISSUER

     Section (a) of Item 5 is hereby deleted in its entirety and replaced with
the following:

     (a)  As of December 10, 1997, the Funds beneficially owned an aggregate of
6,535,371 Shares and First Reserve directly owned 33,935 Shares, constituting
approximately 12.50%, in the aggregate, of the approximately 52,567,000 Shares
of the Issuer outstanding as of December 10, 1997.  The number and percentage of
Shares of the Issuer beneficially owned by each Reporting Person identified in
Item 2 of this Schedule 13D are:

<TABLE>
<CAPTION>
                                            Percentage of Issuer
                                            Shares Outstanding on
                        Shares              December 10, 1997
                       ---------            ---------------------
<S>                    <C>                  <C>
Fund I                 1,360,000                    2.59%
Fund II                  850,000                    1.62%
Fund IV                  650,000                    1.24%
Fund V                 2,300,000                    4.38%
Fund V-2                 640,000                    1.22%
Fund VI                  735,371                    1.40%
First Reserve          6,569,306                   12.50%
</TABLE>

                                   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 18, 1998

                                        First Reserve Corporation

                                        By:     /s/ Elizabeth C. Foley
                                                ----------------------
                                        Name:   Elizabeth C. Foley
                                        Title:  Managing Director


                                                                    Page 9 of 11
<PAGE>   10
          American Gas & Oil Investors, Limited Partnership

          By:  First Reserve Corporation,
               as Managing General Partner



               By:     /s/ Elizabeth C. Foley
                       --------------------------
               Name:   Elizabeth C. Foley
               Title:  Managing Director


          AmGO II, Limited Partnership

          By:  First Reserve Corporation,
               as Managing General Partner



               By:     /s/ Elizabeth C. Foley
                       --------------------------
               Name:   Elizabeth C. Foley
               Title:  Managing Director


          First Reserve Secured Energy Assets Fund, Limited Partnership

          By:  First Reserve Corporation,
               as Managing General Partner



               By:     /s/ Elizabeth C. Foley
                       --------------------------
               Name:   Elizabeth C. Foley
               Title:  Managing Director

           First Reserve Fund V, Limited Partnership

           By: First Reserve Corporation,
               as Managing General Partner



               By:     /s/ Elizabeth C. Foley
                       --------------------------
               Name:   Elizabeth C. Foley
               Title:  Managing Director





                                                                Page 10 of 11
<PAGE>   11
          First Reserve Fund V-2, Limited Partnership

          By:   First Reserve Corporation,
                as Managing General Partner



                By:    /s/ Elizabeth C. Foley
                       -----------------------------
                Name:  Elizabeth C. Foley
                Title: Managing Director

          First Reserve Fund VI, Limited Partnership

          By:   First Reserve Corporation,
                as Managing General Partner



                By:    /s/ Elizabeth C. Foley
                       ----------------------------
                Name:  Elizabeth C. Foley
                Title: Managing Director








                                                                 Page 11 of 11


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