<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
BELLWETHER EXPLORATION COMPANY
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(Name of Issuer)
COMMON STOCK, $.01 par value per share
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070895 20 7
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Carol A. McCoy, 2001, Third Avenue South, Birmingham, AL 35233 (205) 325-4243
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
April 9 and 16, 1997
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(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 [_].
Check the following box if a fee is being paid with the statement [X]. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
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).
(Continued on following Page(s))
Page 1 of __ Pages
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SCHEDULE 13D
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CUSIP NO. 079895 20 7 PAGE OF PAGES
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NAME OF REPORTING PERSON
TORCHMARK CORPORATION
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
63-0780404
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
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SEC USE ONLY
3
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SOURCE OF FUNDS*
4
00
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
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CITIZENSHIP OR PLACE OF ORGANIZATION
6 DELAWARE
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SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
0
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0%
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TYPE OF REPORTING PERSON*
14
CO, HC
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2
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SCHEDULE 13D
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CUSIP NO. 079895 20 7 PAGE OF PAGES
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NAME OF REPORTING PERSON
UNITED INVESTORS MANAGEMENT COMPANY
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
51-0261715
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
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SEC USE ONLY
3
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SOURCE OF FUNDS*
4 00
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
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CITIZENSHIP OR PLACE OF ORGANIZATION
6 DELAWARE
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SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
0
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0%
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TYPE OF REPORTING PERSON*
14
CO
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3
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Item 1. Security and Issuer.
This Statement on Schedule 13D, filed jointly by Torchmark Corporation
("Torchmark") and United Investors Management Company ("UIMCO") (together,
"Reporting Persons"), relates to the beneficial ownership of common stock and
warrants to purchase common stock of Bellwether Exploration Company
("Bellwether"), a corporation incorporated under the laws of the State of
Delaware. Bellwether maintains its principal executive offices at 1331 Lamar
Street, Suite 1455, Houston, Texas 77010-3039.
Item 2. Identity and Background.
Torchmark Corporation, a Delaware corporation
2001 Third Avenue South
Birmingham, AL 35233
United Investors Management Company, a Delaware corporation
400 Market Street
Wilmington, DE 19850-9336
Torchmark is an insurance and diversified financial services holding
company. UIMCO is an intermediate-level holding company and a wholly-owned
subsidiary of Torchmark. There have been no criminal proceedings in the last
five years involving either Torchmark or UIMCO.
This amendment to the Schedule 13D is filed to reflect the disposition of
beneficial ownership of 562,696 shares of Bellwether common stock and warrants
to purchase an additional 187,500 Bellwether common shares and the cessation of
status as Reporting Person under Schedule 13D.
Item 3. Source and Amount of Funds or Other Consideration.
Not applicable
Item 4. Purpose of Transaction.
Not applicable
Item 5. Interest in Securities of the Issuer.
(a) Not applicable
(b) Not applicable
(c) Not applicable
(d) Not applicable
(e) On April 16, 1997, Torchmark and UIMCO ceased to be the beneficial
owner of more than 5% of the common stock and warrants.
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Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
Not applicable
Item 7. Material to be Filed as Exhibits
(a) Joint Filing Agreement dated December 4, 1996 between Torchmark
Corporation and United Investors Management Company (previously filed).
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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.
Date: February 13, 1998 TORCHMARK CORPORATION
By: /s/ Michael J. Klyce
---------------------------------
Its Vice President and Treasurer
Date: February 13, 1998 UNITED INVESTORS MANAGEMENT COMPANY
By: /s/ Michael J. Klyce
---------------------------------
Its Vice President and Treasurer
