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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(AMENDMENT NO. 8)
Under the Securities Exchange Act of 1934*
Tuboscope Inc.
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(Name of Issuer)
Common Stock, $.01 par value per share
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(Title of Class of Securities)
898594-10-6
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(CUSIP Number)
Daniel J. Churay
Baker Hughes Incorporated
3900 Essex Lane, Suite 1200
Houston, Texas 77027
(713) 439-8600
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
March 14, 2000
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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(e), (f) or (g), check the following box [ ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) 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).
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CUSIP No. 898594-10-6
<TABLE>
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<S> <C> <C>
(1) Name of Reporting Person
I.R.S. Identification Nos. of Above Person
Baker Hughes Incorporated, a Delaware corporation ("Baker Hughes")
76-0207995
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(2) Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
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(3) SEC Use Only
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(4) Source of Funds
Not applicable
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e)
[ ]
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(6) Citizenship or Place of Organization
Delaware
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Number of (7) Sole Voting Power 3,059,047
Shares Bene- -----------------------------------------------------------------------------------------------------
ficially (8) Shared Voting Power 0
Owned by -----------------------------------------------------------------------------------------------------
Each Report- (9) Sole Dispositive Power 3,059,047
ing Person -----------------------------------------------------------------------------------------------------
With (10) Shared Dispositive Power 0
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
3,059,047
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
- -----------------------------------------------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
6.7% (based on the number of shares of common stock, $.01 par value per share, of Tuboscope
Inc. outstanding as of February 11, 2000 as reported by Tuboscope Inc. in its Annual Report on
Form 10-K for the year ended December 31, 1999)
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(14) Type of Reporting Person (See Instructions) CO
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</TABLE>
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The Schedule 13D for the event dated October 29, 1991, as
amended and supplemented by the amendments thereto previously filed with the
Securities and Exchange Commission (collectively, the "Schedule 13D"), of Baker
Hughes Incorporated, a Delaware corporation ("Baker Hughes"), relating to the
common stock, $.01 par value per share (the "Common Stock"), of Tuboscope Inc.,
a Delaware corporation ("Tuboscope"), is hereby amended and supplemented as set
forth below. Defined terms used but not defined in this Amendment No. 8 shall
have their respective meanings as set forth in the Schedule 13D.
ITEM 4. PURPOSE OF TRANSACTION
Item 4 of the Schedule 13D is hereby amended and supplemented
by adding the following information thereto:
By letters dated March 14, 2000, Baker Hughes notified
Tuboscope of its intention to sell an aggregate of 1,709,047 shares of Common
Stock in open market sales. Such shares include 356,700 shares referred to in
the March 8, 2000 waiver letter from Tuboscope to Baker Hughes, but exclude
43,300 shares previously sold and 100,000 shares Baker Hughes intends to sell
pursuant to the waiver granted in such letter. Pursuant to Section 8.11 of the
Purchase Agreement, Tuboscope has the right, exercisable for five business days,
to purchase the shares referred to in the letters at $17.90 per share, the
average closing price of the Common Stock for the ten trading day period ended
March 13, 2000. Any of such shares that Baker Hughes does not sell within six
months from the date of its first disposition will again become subject to the
provisions of Section 8.11 of the Purchase Agreement.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Paragraphs (a) through (c) of Item 5 of the Schedule 13D are
hereby amended and supplemented by adding the following information thereto:
From March 8, 2000 to March 14, 2000, Baker Hughes sold in
brokers' transactions effected on the New York Stock Exchange an aggregate of
43,300 shares of Common Stock as follows:
<TABLE>
<CAPTION>
AGGREGATE WEIGHTED AVERAGE PER
DATE NUMBER OF SHARES SHARE SALES PRICE
- ---- ---------------- --------------------
<S> <C> <C>
March 8, 2000 .......................... 16,700 $18.70
March 9, 2000 .......................... 24,100 18.44
March 14, 2000 ......................... 2,500 18.06
</TABLE>
After such sales, Baker Hughes beneficially owned 3,059,047 shares of Common
Stock, or 6.7% of the outstanding Common Stock (based on the number of shares of
Common Stock outstanding as of February 11, 2000 as reported by Tuboscope in its
Annual Report on Form 10-K for the year ended December 31, 1999).
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SIGNATURE
After reasonable inquiry and to the best of its knowledge and
belief, the undersigned certifies that the information set forth in this
Amendment No. 8 to Schedule 13D is true, complete and correct.
BAKER HUGHES INCORPORATED
By: /s/ DOUGLAS C. DOTY
-----------------------------------
Douglas C. Doty
Vice President and Treasurer
Date: March 15, 2000
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