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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 5)
UNION TEXAS PETROLEUM HOLDINGS, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $.05 PER SHARE
(Title of Class of Securities)
908640-10-5
(CUSIP Number)
Check the following box if a fee is being paid with this statement [_]. (A fee
is not required only if the filing 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).
*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 in 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 8 pages.
Exhibit Index is on Page 8.
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CUSIP NO. 908640-10-5 SCHEDULE 13G
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Petroleum Associates, L.P.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [X]
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SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 21,646,004
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
-0-
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 21,646,004
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
-0-
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
21,646,004
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [_]
10
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
24.7%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
12
PN
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Page 2 of 8 pages.
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CUSIP NO. 908640-10-5 SCHEDULE 13G
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- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
KKR Partners II, L.P.
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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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CITIZENSHIP OR PLACE OF ORGANIZATION
4
DELAWARE
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SOLE VOTING POWER
5
NUMBER OF 187,330
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
-0-
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 187,330
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
-0-
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
187,330
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [_]
10
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.2%
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TYPE OF REPORTING PERSON
12
PN
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Page 3 of 8 pages.
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ITEM 1.
(A) NAME OF ISSUER:
Union Texas Petroleum Holdings, Inc.
(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
1330 Post Oak Boulevard
Houston, Texas 77056
ITEM 2.
(A) NAME OF PERSONS FILING:
Petroleum Associates, L.P.
KKR Partners II, L.P.
(B) ADDRESS OF PRINCIPAL BUSINESS OFFICE:
c/o Kohlberg Kravis Roberts & Co.
9 West 57th Street
New York, New York 10019
(C) CITIZENSHIP:
Petroleum Associates, L.P. -- Delaware
KKR Partners II, L.P. -- Delaware
(D) TITLE OF CLASS OF SECURITIES:
Common Stock, par value $.05 per share
(E) CUSIP NUMBER:
908640-10-5
ITEM 3. Not applicable.
ITEM 4. OWNERSHIP
(A) AMOUNT BENEFICIALLY OWNED:
KKR Associates, a New York limited partnership, is the sole
general partner of Petroleum Associates, L.P., a Delaware limited
partnership, and KKR Partners II, L.P., a Delaware limited
partnership, in which capacity it may be deemed to be the
beneficial owner of the shares of Union Texas Petroleum Holdings,
Inc. common stock beneficially owned by Petroleum Associates,
L.P. and KKR Partners II, L.P. Petroleum Associates, L.P. is the
record owner of 21,646,004
Page 4 of 8 pages.
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shares of common stock of Union Texas Petroleum Holdings, Inc.
KKR Partners II, L.P. is the record owner of 187,330 shares of
common stock of Union Texas Petroleum Holdings, Inc. Henry R.
Kravis, George R. Roberts, Paul E. Raether, Robert I. MacDonnell,
Michael W. Michelson, Saul A. Fox, James H. Greene, Jr., Michael
T. Tokarz, Edward A. Gilhuly, Perry Golkin, Clifton S. Robbins
and Scott Stuart are the general partners of KKR Associates, and
in such capacity may be deemed to share beneficial ownership of
any shares beneficially owned by KKR Associates, but disclaim any
such beneficial ownership.
(B) PERCENT OF CLASS:
See Item 11 of each cover page.
(C) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(i) Sole power to vote or direct the vote:
See Item 5 of each cover page.
(ii) Shared power to vote or to direct the vote:
See Item 6 of each cover page.
(iii) Sole power to dispose or to direct the disposition of:
See Item 7 of each cover page.
(iv) Shared power to dispose or to direct the disposition of:
See Item 8 of each cover page.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
Not applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
See Item 4 above.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
Not applicable.
Page 5 of 8 pages.
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ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Petroleum Associates, L.P. and KKR Partners II, L.P. are Delaware
limited partnerships, the sole general partner of each of which is KKR
Associates, a New York limited partnership. As the sole general
partner of each of Petroleum Associates, L.P. and KKR Partners II,
L.P., KKR Associates may be deemed to be the beneficial owner of the
securities held by such limited partnerships. Petroleum Associates,
L.P. and KKR Partners II, L.P. may be deemed to be a group in relation
to their respective investments in Union Texas Petroleum Holdings,
Inc. Petroleum Associates, L.P. and KKR Partners II, L.P. do not
affirm the existence of a group.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not applicable.
ITEM 10. CERTIFICATION
Not applicable.
Page 6 of 8 pages.
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SIGNATURES
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 8, 1996
PETROLEUM ASSOCIATES, L.P.
By: KKR ASSOCIATES
Its: General Partner
By: /s/ Michael W. Michelson
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Name: Michael W. Michelson
Title: General Partner
KKR PARTNERS II, L.P.
By: KKR ASSOCIATES
Its: General Partner
By: /s/ Michael W. Michelson
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Name: Michael W. Michelson
Title: General Partner
Page 7 of 8 pages.
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EXHIBITS
Exhibit 1 - Joint Filing Agreement (incorporated by reference to Exhibit 1 to
the Statements on Schedule 13G of Petroleum Associates, L.P. and
KKR Partners II, L.P. filed on February 16, 1993).
Page 8 of 8 pages.
