UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
HUGOTON ENERGY CORPORATION
(NAME OF ISSUER)
COMMON STOCK, NO PAR VALUE
(TITLE OF CLASS OF SECURITIES)
444613103
---------
(CUSIP NUMBER)
*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 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).
Page 1 of 5
<PAGE>
SCHEDULE 13G
CUSIP NO. 444613103 PAGE 2 OF 5 PAGES
--------- --------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Odyssey Partners, L.P. (E.I. No. 13-5614745)
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY
OWNED BY -------------------------------------------------------------
EACH
REPORTING 6 SHARED VOTING POWER
PERSON -0-
-------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
-0-
-------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
- -------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
- -------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* |_|
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
-0-
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 5
<PAGE>
ITEM 1 (A) - NAME OF ISSUER:
- ----------------------------
Hugoton Energy Corporation
ITEM 1 (B) - ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
- -------------------------------------------------------------
301 N. Main, Suite 1900
Wichita, KS 67202
ITEM 2 (A) - NAME OF PERSON FILING:
- -----------------------------------
Odyssey Partners, L.P.
ITEM 2 (B) - ADDRESS OF PRINCIPAL BUSINESS OFFICE:
- --------------------------------------------------
31 West 52nd Street
New York, NY 10019
ITEM 2 (C) - CITIZENSHIP:
- -------------------------
A Delaware limited partnership
ITEM 2 (D) - TITLE OF CLASS OF SECURITIES:
- ------------------------------------------
Common Stock, no par value
ITEM 2 (E) - CUSIP NO.:
- -----------------------
444613103
ITEM 3:
- -------
Not Applicable
ITEM 4 - OWNERSHIP:
- -------------------
ITEM 4 (A) - AMOUNT BENEFICIALLY OWNED:
---------------------------------------
-0-
Page 3 of 5
<PAGE>
ITEM 4 (B) - PERCENT OF CLASS:
- ------------------------------
-0-
ITEM 4 (C) - NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
- ----------------------------------------------------------
(i) Sole power to vote or to direct the vote:
-0-
(ii) Shared power to vote or to direct the vote:
-0-
(iii) Sole power to dispose or to direct the disposition of:
-0-
(iv) Shared power to dispose or to direct the disposition of:
-0-
ITEM 5 - OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
- ------------------------------------------------------
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [X].
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
Page 4 of 5
<PAGE>
ITEM 9 - NOTICE OF DISSOLUTION OF GROUP:
- ----------------------------------------
Not Applicable
ITEM 10 - CERTIFICATION:
- ------------------------
Not Applicable
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.
ODYSSEY PARTNERS, L.P.
By: /s/ Jack Nash
---------------------
Jack Nash
General Partner
Dated: May 20, 1997
Page 5 of 5
