<PAGE>
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)
McFarland Energy, Inc.
--------------------------------------------------
(Name of Issuer)
Common Stock
-------------------------------
(Title of Class of Securities)
58 0432102
---------------------------------
(CUSIP Number)
Michael S. Paquette
Vice President and
Controller
Fund American Enterprises Holdings, Inc.
80 South Main Street
Hanover, NH 03755
(603) 643-1567
------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
March 5, 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 [ ].
Check the following box if a fee is being paid with this 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 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.
<PAGE>
CUSIP NO. 58 0432102
- --------------------------------------------------------------------------------
(1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above
Person
Fund American Enterprises Holdings, Inc.
94-2708455
- --------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a)
of a Group (See Instructions) -------------
(b)
- ----------------------------------- ------------------
(3) (SEC Use Only)
- --------------------------------------------------------------------------------
(4) Source of Funds (See Instructions) AF
- --------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
- --------------------------------------------------------------------------------
(6) Citizenship or Place of Organization Delaware
--------
- --------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power
Beneficially Owned 86,846
by Each Reporting ----------------------------
Person With (8) Shared Voting Power
333,000
----------------------------
(9) Sole Dispositive Power
----------------------------
(10) Shared Dispositive Power
333,000
----------------------------
- --------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
333,000
- --------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
- --------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
Approximately 5.9%
- --------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) HC, CO
Page 2 of 11
<PAGE>
CUSIP NO. 58 0432102
- --------------------------------------------------------------------------------
(1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above
Person
Fund American Enterprises, Inc.
51-0328932
- --------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a)
of a Group (See Instructions) -------------
(b)
-------------
- --------------------------------------------------------------------------------
(3) (SEC Use Only)
- --------------------------------------------------------------------------------
(4) Source of Funds (See Instructions) WC
- --------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
- --------------------------------------------------------------------------------
(6) Citizenship or Place of Organization Delaware
--------
- --------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power
Beneficially Owned
by Each Reporting ----------------------------
Person With (8) Shared Voting Power
169,231
----------------------------
(9) Sole Dispositive Power
----------------------------
(10) Shared Dispositive Power
169,231
----------------------------
- --------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
169,231
- --------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
- --------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
Approximately 3.0%
- --------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
Page 3 of 11
<PAGE>
CUSIP NO. 58 0432102
- --------------------------------------------------------------------------------
(1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above
Person
White Mountain Holdings, Inc.Inc.
02-0477312
- --------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a)
of a Group (See Instructions) -------------
(b)
- ----------------------------------- ------------------
(3) (SEC Use Only)
- --------------------------------------------------------------------------------
(4) Source of Funds (See Instructions) WC
- --------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e)
- --------------------------------------------------------------------------------
(6) Citizenship or Place of Organization Delaware
--------
- --------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power
Beneficially Owned
by Each Reporting ----------------------------
Person With (8) Shared Voting Power
76,923
----------------------------
(9) Sole Dispositive Power
----------------------------
(10) Shared Dispositive Power
76,923
----------------------------
- --------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
76,923
- --------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
- --------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
Approximately 1.4%
- --------------------------------------------------------------------------------
(14) Type of Reporting Person (See Instructions) CO
Page 4 of 11
<PAGE>
ONLY ITEMS REPORTED IN THIS AMENDMENT NO. 5 TO SCHEDULE 13D ARE AMENDED FROM THE
FILINGS ON SCHEDULE 13D (THE "SCHEDULE 13D") PREVIOUSLY FILED WITH THE
SECURITIES AND EXCHANGE COMMISSION (THE "COMMISSION". ALL OTHER ITEMS REMAIN
UNCHANGED. UNLESS OTHERWISE SPECIFIED, ALL DEFINED TERMS USED HEREIN HAVE THE
MEANING PREVIOUSLY ASCRIBED TO THEM IN THE SCHEDULE 13D.
Item 5. Interest in Securities of the Issuer.
-------------------------------------
(a) FAEH owns 86,846 Shares directly and owns 169,231 Shares and 76,923
Shares indirectly through FAE, WMH and certain of WMH's direct and indirect
wholly owned subsidiaries, respectively. The aggregate number of Shares and the
corresponding percentage of the outstanding Shares such number represents is as
follows:
<TABLE>
<CAPTION>
Percentage of
Shares Shares
Beneficially Beneficially
Person Owned Owned
------ ------------ -------------
<S> <C> <C>
FAEH 86,846 1.5%
FAE 169,231 3.0%
WMH* 76,923 1.4%
</TABLE>
* WMH and certain of its direct and indirect wholly-owned subsidiaries.
(b) FAEH has sole voting power and dispositive power with respect to 86,846
Shares and shares voting power and dispositive power with respect to 169,231
Shares with FAE, 76,923 Shares with WMH and certain of WMH's direct and indirect
wholly-owned subsidiaries. The persons on Schedule I listed above have sole
voting power and dispositive power with respect to Shares individually owned by
them respectively.
(c) None
(d) None
(e) Not Applicable
Page 5 of 11
<PAGE>
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
---------------------------------------------------------------------
to Securities of the Issuer.
- ---------------------------
FAE extended a "Standstill Agreement", originally dated September 1, 1989,
until January 4, 1998. Such agreement provides the executive management and
Board of McFarland Energy certain assurances, voluntary restrictions on
purchasing or selling Shares of McFarland and voting limitations intended to
keep FAE in the position of a friendly investor that supports the incumbent
management's views. The Standstill Agreement originally applied to all 400,000
Shares of McFarland owned by FAEH and its subsidiaries. During February 1997,
McFarland Energy removed the Standstill Agreement restrictions on 100,000 Shares
of McFarland which provided FAEH and its subsidiaries with the opportunity to
sell up to 100,000 Shares of McFarland.
SIGNATURE
After reasonable inquiry and to the best of the knowledge and belief
of the undersigned, the undersigned certifies that the information set forth in
this statement is true, complete and correct.
Dated: March 17, 1997
FUND AMERICAN ENTERPRISES HOLDINGS, INC.
BY:
/s/
------------------------------------
Name: Michael S. Paquette
Title: Vice President and
Controller
Page 6 of 11
<PAGE>
FUND AMERICAN ENTERPRISES, INC.
BY:
/s/
----------------------------------------
Name: Robert E. Snyder
Title: Secretary and Controller
WHITE MOUNTAINS HOLDINGS, INC.
BY:
/s/
----------------------------------------
Name: Michael S. Paquette
Title: Vice President and
Controller
Page 7 of 11
<PAGE>
SCHEDULE I TO SCHEDULE 13D
--------------------------
Following is a list of the directors and executive officers of Fund
American Enterprises Holdings, Inc. ("FAEH"), Fund American Enterprises, Inc.
("FAE"), and White Mountains Holdings, Inc. ("WMH") setting forth the business
address and present principal occupation or employment (and the name, principal
business and address of any corporation or organization in which such employment
is conducted) of each such person. Each such person is a citizen of the United
States of America.
<TABLE>
<CAPTION>
Present
Name and Principal Occupation
Business Address Office or Employment
- ---------------- ------ --------------------
<S> <C> <C>
FAEH
Dennis P. Beaulieu Corporate Secretary Corporate Secretary
Fund American Enterprises of FAEH, Director of WMH of FAEH
Holdings, Inc.
80 South Main Street
Hanover, NH 03755-2053
John J. Byrne Chairman of the Board, Chairman of the Board,
Fund American Enterprises President & Chief President & Chief
Holdings, Inc. Executive Officer of Executive Officer of
80 South Main Street FAEH, Chairman of the FAEH
Hanover, NH 03755-2053 Board of FAE
Reid T. Campbell Assistant Controller of Assistant Controller of
Fund American Enterprises FAEH FAEH
Holdings, Inc.
80 South Main Street
Hanover, NH 03755-2053
Howard L. Clark Director Retired
200 Park Avenue, Suite 4501 of FAEH
New York NY 10166
Howard L. Clark, Jr. Director Vice Chairman of Lehman
Lehman Brothers Holdings, of FAEH Brothers Holdings, Inc.
Inc.
American Express Tower
New York NY 10128
Robert P. Cochran Director President & Chief
Financial Security of FAEH Executive Officer of
Assurance Financial Security
Holdings, Ltd. Assurance
350 Park Avenue Holdings, Ltd.
New York NY 10022
George J. Gillespie, III Director Partner in Cravath,
Cravath, Swaine & Moore of FAEH Swaine & Moore
825 Eighth Avenue
New York NY 10019
K. Thomas Kemp Executive Vice President Executive Vice President
Fund American Enterprises of FAEH, Director of of FAEH
Holdings, Inc. FAEH and FAE, Chairman
80 South Main Street of WMH
Hanover, NH 03755-2053
</TABLE>
Page 8 of 11
<PAGE>
SCHEDULE I TO SCHEDULE 13D (cont.)
----------------------------------
<TABLE>
<CAPTION>
Present
Name and Principal Occupation
Business Address Office or Employment
- ---------------- ------ ---------------------
FAEH
<S> <C> <C>
Gordon S. Macklin Director Chairman of White River
8212 Burning Tree Road of FAEH Corporation
Bethesda MD 20817
Frank A. Olson Director of FAEH Chairman and Chief
The Hertz Corporation Executive
225 Brae Boulevard Officer of Hertz
Park Ridge, NJ 07656-0713 Corporation
Michael S. Paquette Vice President & Vice President &
Fund American Enterprises Controller of FAEH, Controller of FAEH
Holdings, Inc. Director of FAE and WMH
80 South Main Street
Hanover, NH 03755-2053
David G. Staples Vice President of FAEH Vice President of FAEH
Fund American Enterprises
Holdings, Inc.
80 South Main Street
Hanover, NH 03755-2053
Allan L. Waters Senior Vice President & Senior Vice President &
Fund American Enterprises Chief Financial Officer Chief Financial Officer
Holdings, Inc. of FAEH, Director of of FAEH
80 South Main Street FAE and WMH
Hanover, NH 03755-2053
Arthur Zankel Director Co-Managing Partner
First Manhattan Co. of FAEH First Manhattan Co.
437 Madison Ave.
New York NY 10022
FAE
James H. Ozanne President of FAE, President of FAE
Fund American Enterprises, Director of FAE
Inc.
The 1820 House, Main Street
Norwich, VT 05055-0850
Robert E. Snyder Secretary and Controller Secretary and Controller
Fund American Enterprises, of FAE, Director of FAE of FAE
Inc.
The 1820 House, Main Street
Norwich, VT 05055-0850
</TABLE>
Page 9 of 11
<PAGE>
SCHEDULE I TO SCHEDULE 13D (cont.)
----------------------------------
<TABLE>
<CAPTION>
Present
Name and Principal Occupation
Business Address Office or Employment
- ---------------- ------ ---------------------
<S> <C> <C>
WMH
Dennis P. Beaulieu Vice President and Corporate Secretary
(see above) Secretary of WMH, of FAEH
Director of WMH
John J. Byrne Director of WMH Chairman of the Board,
(see above) President & Chief
Executive Officer of
FAEH
Patrick M. Byrne Director of WMH Chief Executive Officer
Centricut, LLC of Centricut, LLC
2 Technology Drive, STE 3
West Lebanon, NH 03784
Reid T. Campbell Assistant Controller of Assistant Controller of
(see above) WMH FAEH
Terry L. Baxter President and Director President and Director
80 South Main Street of WMH of WMH
Hanover, NH 03755
Morgan Davis Executive Vice President Executive Vice President &
White Mountains & Chief Operating Officer Chief Operating Officer
Holdings, Inc. of WMH, Director of WMH of WMH
80 South Main Street
Hanover, NH 03755-2053
Robert P. Cochran Director President & Chief
(see above) of WMH Executive Officer of
Financial Security
Assurance
Holdings, Ltd.
John D. Gillespie Director of WMH Self Employed
White Mountains
Holdings, Inc.
80 South Main Street
Hanover, NH 03755
Robert P. Keller Director of WMH Self Employed
White Mountains
Holdings, Inc.
80 South Main Street
Hanover, NH 03755
</TABLE>
Page 10 of 11
<PAGE>
SCHEDULE I TO SCHEDULE 13D (cont.)
----------------------------------
<TABLE>
<CAPTION>
Present
Name and Principal Occupation
Business Address Office or Employment
- ---------------- ------ ---------------------
<S> <C> <C>
K. Thomas Kemp Chairman, Chief Executive Executive Vice President
(see above) Officer and President of FAEH
of WMH
Phil Koerner Director of WMH Chief Executive Officer of
National Grange Mutual National Grange Mutual
Insurance Company Insurance Company
55 West Street, POB 2300
Keene, NH 03431
Michael S. Paquette Vice President & Vice President &
(see above) Controller of WMH, Controller of FAEH
Director of WMH
Daniel A. Post Director of WMH President and Chief
2450 14/th/ Avenue SE Executive
Albany, OR 97321-0421 Officer of Valley
Insurance Company
Allan L. Waters Senior Vice President & Senior Vice President &
(see above) Chief Financial Officer Chief Financial Officer
of WMH, Director of of FAEH
WMH
</TABLE>
Page 11 of 11
