SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
Seagull Energy Corporation
(Name of Issuer)
Common Stock $0.10 Par Value
(Title of Class of Securities)
812007-10-2
(CUSIP Number)
Steven M. Plon, Esquire, Silverman Coopersmith & Frimmer
Two Penn Center Plaza, Suite 910, Philadelphia, PA 19102, (215) 636-4482
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
August 4, 1998
(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. (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 claim 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 13d1(a) for other parties to whom copies are to
be sent.
*The remainder of this coverage page shall be filed 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 action of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
PAGE 1 OF 6<PAGE>
13D
1. NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Leon S. Gross S.S. No. ###-##-####
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b)
3. SEC USE ONLY
4. SOURCE OF FUNDS*
PF and 00
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF SHARES BENEFICIALLY OWNED BY
EACH REPORTING PERSON WITH
7. SOLE VOTING POWER
2,119,189
8. SHARED VOTING POWER
0
9. SOLE DISPOSITIVE POWER
0
10. SHARED DISPOSITIVE POWER
2,119,189 [Shares are subject to Margin Account Agreements]
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,119,189
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.4% of the issued and outstanding stock
14. TYPE OF REPORTING PERSON*
IN
PAGE 2 OF 6
*SEE INSTRUCTIONS BEFORE FILLING OUT!<PAGE>
AMENDMENT NO. 1 TO SCHEDULE 13D
This Amendment No. 1 to the Schedule 13D is being filed by the undersigned
in accordance with Rule 13d-2(a) of the general rules and regulations under the
Securities Exchange Act of 1934, as amended (the "Exchange Act") and amends the
Schedule 13D filed by the undersigned on February 2, 1998 (the "Existing
Schedule 13D") to the extent set forth below. Terms defined in the Existing
Schedule 13D are used herein as so defined.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 of the Existing Schedule 13D is hereby amended by the addition of
the following paragraph:
Mr. Gross acquired 201,100 Shares of the Issuer in open market purchases
since June 5, 1998, which is the date sixty (60) days prior to the date of the
event which requires the filing of this Schedule 13D Amendment. These Shares
were acquired at a cost (excluding commissions) of $3,332,650. The funds
required for the purchase of the foregoing Shares were provided, in part, by
Mr. Gross's personal funds, and, in part, from funds borrowed by Mr. Gross
through his margin accounts at the Brokerage Firms.
Item 5. Interest in Securities of the Issuer.
Item 5(a) of the Existing Schedule 13D is hereby amended to read as
follows:
(a) Mr. Gross beneficially owns 2,119,189 Shares, representing
3.4% of the 62,243,000 issued and outstanding Shares of the Issuer.
Item 5(c) of the Existing Schedule 13D is hereby amended by the addition
of the following paragraph:
(c) Listed below are the acquisitions and dispositions of Shares by Mr.
Gross which have occurred since June 5, 1998. The acquisitions were made
through open market purchases.
PAGE 3 OF 6<PAGE>
Acquisitions by Mr. Gross since June 5, 1998
Date Number of Shares Price Per Share
6/11/98 1,000 $15.00
6/26/98 800 16.50
6/26/98 8,200 16.50
6/30/98 5,100 16.50
7/09/98 16,000 16.875
7/13/98 5,000 16.50
7/13/98 10,000 16.75
7/13/98 5,000 16.75
7/13/98 50,000 16.50
7/13/98 50,000 16.75
7/13/98 20,000 16.75
7/20/98 30,000 16.125
Dispositions by Mr. Gross since June 5, 1998
Date Number of Shares Price Per Share
6/16/98 1,000 14.3125
6/19/98 1,000 15.125
6/19/98 4,000 15.00
6/19/98 1,000 14.75
6/19/98 4,000 14.625
6/19/98 2,500 14.625
6/19/98 200 14.625
6/19/98 100 14.625
6/19/98 100 14.625
6/19/98 1,000 14.5625
6/19/98 1,000 14.5625
6/19/98 300 14.5625
6/19/98 1,000 14.5625
7/23/98 9,100 14.5625
7/24/98 92,700 14.0284
7/24/98 5,100 13.875
7/24/98 1,000 13.8125
7/21/98 4,900 13.75
7/28/98 2,000 13.00
7/28/98 10,000 13.00
7/28/98 10,000 12.9375
PAGE 4 AND 6<PAGE>
7/29/98 1,900 12.8125
7/29/98 5,100 12.875
7/29/98 1,000 13.125
7/29/98 8,000 13.125
7/29/98 1,000 13.1875
7/29/98 3,000 12.875
7/29/98 90,100 12.8058
7/30/98 40,000 13.3313
7/30/98 25,000 13.125
7/31/98 10,000 12.75
7/31/98 5,000 12.875
7/31/98 10,000 12.9375
7/31/98 25,000 13.00
7/31/98 5,000 12.875
8/03/98 12,000 12.00
8/03/98 20,000 12.0328
8/03/98 10,500 12.4375
8/03/98 400 12.4375
8/03/98 13,100 11.9375
8/03/98 25,000 12.625
8/03/98 21,000 12.625
8/04/98 200 11.75
8/04/98 7,000 12.2589
8/04/98 20,000 11.5875
8/04/98 200,000 11.5238
8/04/98 200,000 12.00
8/04/98 80,000 11.5398
8/05/98 20,000 11.65
8/05/98 50,000 11.7385
8/05/98 6,000 11.625
8/05/98 3,500 11.9375
8/05/98 5,000 11.875
8/05/98 24,000 11.75
8/05/98 5,400 11.75
8/05/98 2,100 11.625
8/06/98 5,000 12.00
8/06/98 8,500 11.625
8/06/98 6,000 11.625
8/06/98 500 11.6875
8/06/98 200,000 11.7988
PAGE 5 OF 6<PAGE>
Item 6. Contracts, Arrangements, Understanding or Relationship With
Respect to Securities of the Issuer.
Item 6 of the Existing Schedule 13D is hereby amended by the addition
of the following paragraph:
(b) Since the filing of the Existing Schedule 13D, Mr. Gross has added
to,reduced and moved Shares among the margin accounts he has with the following
Brokerage Firms. As of August 6, 1998, Mr. Gross' Shares are pledged as follows:
Brokerage Firm Number of Shares
Advest 96,728
Dean Witter 558,356
Donaldson, Lufkin & Jenrette 274,400
Goldman Sachs 67,065
Gruntal 6,500
Lehman Brothers 1,096,500
Merrill Lynch 19,600
Smith Barney 40
____________
TOTAL 2,119,189
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.
August 11, 1998
Date
/s/ Leon S. Gross
Leon S. Gross
PAGE 6 OF 6
