<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Patina Oil & Gas Corporation
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock (par value $0.01)
- --------------------------------------------------------------------------------
(Title of Class of Securities)
703224 - 10 - 5
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(CUSIP Number)
Thomas R. Denison, Esq.
GIBSON, DUNN & CRUTCHER LLP
1801 California Street, Suite 4100
Denver, Colorado 80202
(303) 298-5700
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
July 6, 1998
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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 Statement 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: [ ]
Page 1 of 8
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<TABLE>
<S> <C>
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CUSIP No. 703224 - 10 - 5 SCHEDULE 13D
- ------------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FIRST RESERVE FUND VII, LIMITED PARTNERSHIP I.R.S. IDENTIFICATION NO.: 06-1457408
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a [ ]
(b [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
00
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5 CHECK BOX 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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7 SOLE VOTING POWER
2,421,498
NUMBER OF -------------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 2,421,498
-------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,421,498
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- ---------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
15.0%
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14 TYPE OF REPORTING PERSON*
PN
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</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
Page 2 of 8
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<TABLE>
<S> <C> <C>
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CUSIP No. 703224 - 10 - 5 SCHEDULE 13D
- ------------------------------
- -------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FIRST RESERVE CORPORATION I.R.S. IDENTIFICATION NO.: 06-1210123
- -------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a [ ]
(b [X]
- -------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- -------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- -------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
2,421,498
NUMBER OF ----------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH ----------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 2,421,498
----------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,421,498
- -------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- -------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
15.0%
- -------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
Page 3 of 8
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<TABLE>
<S> <C> <C>
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CUSIP No. 703224 - 10 - 5 SCHEDULE 13D
- ------------------------------
- -------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FIRST RESERVE GP VII, LIMITED PARTNERSHIP I.R.S. IDENTIFICATION NO.: 06-1520256
- -------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a [ ]
(b [X]
- -------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- -------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- -------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
2,421,498
NUMBER OF ----------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH ----------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 2,421,498
----------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,421,498
- -------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- -------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
15.0%
- -------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
Page 4 of 8
<PAGE> 5
<TABLE>
<S> <C> <C>
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CUSIP No. 703224 - 10 - 5 SCHEDULE 13D
- ------------------------------
- -------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WILLIAM E. MACAULAY
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a [ ]
(b [X]
- -------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
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4 SOURCE OF FUNDS*
NOT APPLICABLE
- -------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- -------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- -------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF -----------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -----------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X]
- -------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0%
- -------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
Page 5 of 8
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<TABLE>
<S> <C> <C>
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CUSIP No. 703224 - 10 - 5 SCHEDULE 13D
- ------------------------------
- -------------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JOHN A. HILL
- -------------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a [ ]
(b [X]
- -------------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
NOT APPLICABLE
- -------------------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- -------------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- -------------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF -----------------------------------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
EACH -----------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 0
-----------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -------------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -------------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X]
- -------------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0%
- -------------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
Page 6 of 8
<PAGE> 7
This Amendment to the statement on Schedule 13D (the "Statement")
originally filed on October 24, 1997 pursuant to Rule 13d-1 of the Securities
Exchange Act of 1934, is filed by First Reserve Fund VII, Limited Partnership
("Fund VII"), First Reserve GP VII, L.P. ("GPVII"), First Reserve Corporation
("First Reserve"), William E. Macaulay and John A. Hill (together with Mr.
Macaulay, Fund VII, GPVII and First Reserve, the "Reporting Parties") relating
to the shares of Common Stock, $.01 par value per share (the "Common Stock") of
Patina Oil & Gas Corporation, a Delaware corporation (the "issuer" or "Patina").
The Statement is hereby supplemented and amended as set forth below.
Item 2. IDENTITY AND BACKGROUND
Item 2 is hereby amended by adding the following after the second paragraph:
GPVII is a Delaware limited partnership. On July 6, 1998, First Reserve
assigned all of its interest in Fund VII as its general partner to GPVII in
consideration of the assumption by GPVII of all of First Reserve's obligations
relating to Fund VII. GPVII's principal purpose is to manage the investments of
Fund VII. First Reserve is the sole general partner of GPVII, a special purpose
entity formed to hold First Reserve's interest in Fund VII and to be the general
partner of Fund VII. GPVII's principal business and office address is 475
Steamboat Road, Greenwich, CT 06830.
As a managing entity inserted between Fund VII and First Reserve,
GPVII will now be reporting jointly with Fund VII and First Reserve, as well as
Messrs. Macaulay and Hill, and this amendment is filed on behalf of all the
foregoing persons and entities. The agreement among the reporting persons is
attached as Exhibit E hereto.
Item 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5 is hereby amended by adding the following immediately prior to paragraph
(b):
GPVII, as the general partner of Fund VII, and First Reserve, as the
general partner of GPVII, both have the power to direct the voting of and
disposition of any shares of Common or Preferred Stock beneficially owned by
Fund VII. As a result, under the definition of beneficial ownership set forth in
Rule 13d-3 of the Exchange Act, GPVII and First Reserve may be deemed to
beneficially own the shares directly owned by Fund VII.
Since the date the Statement was filed, Fund VII has received
dividends on the Preferred Stock it owns in additional shares of Preferred Stock
as follows: 13,641 shares on December 31, 1997, 17,829 shares on March 31, 1998
and 18,208 shares on June 30, 1998. These 49,678 shares of Preferred Stock are
convertible into 130,732 shares of Common Stock and have increased the shares of
Common Stock deemed owned by Fund VII to 2,421,498, 15% of the 16,100,321
shares of the issuer's common stock outstanding on May 5, 1998.
Item 6. CONTRACTS, ARRANGEMENTS OR UNDERSTANDINGS WITH RESPECT TO SECURITIES
OF THE ISSUER.
Item 6 is hereby amended by adding the following after the last paragraph
thereof:
Under the Assignment and Assumption Agreement executed by and between
First Reserve and GPVII and attached hereto as Exhibit F, First Reserve assigned
all of its interest in Fund VII as its general partner in consideration of the
assumption by GPVII of all of First Reserve's obligations relating to Fund VII.
Page 7 of 8
<PAGE> 8
Item 7. Material to be Filed as Exhibits.
Item 7 is hereby amended by adding the following:
E. Joint Filing Agreement, dated July 6, 1998, between First Reserve Fund VII,
Limited Partnership, First Reserve GP VII, L.P., First Reserve Corporation, and
Messrs. Macaulay and Hill relating to the filing of a joint statement on
Schedule 13D.
F. Assignment and Assumption Agreement dated July 6, 1998 by and between First
Reserve Corporation and First Reserve GP VII, L.P. whereunder First Reserve
assigned all of its interest in Fund VII as its general partner in consideration
of the assumption by GPVII of all of First Reserve's obligations relating to
Fund VII.
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.
FIRST RESERVE CORPORATION
By: /s/ Thomas R. Denison
-----------------------------------
Thomas R. Denison
Managing Director
FIRST RESERVE G.P. VII, L.P.
By First Reserve Corporation,
as General Partner
By: /s/ Thomas R. Denison
-----------------------------------
Thomas R. Denison
Managing Director
FIRST RESERVE FUND VII, LIMITED PARTNERSHIP
By First Reserve GP VII, L.P.,
as General Partner
By First Reserve Corporation,
as General Partner
By: /s/ Thomas R. Denison
-----------------------------------
Thomas R. Denison
Managing Director
/s/ William E. Macaulay
-----------------------------------
William E. Macaulay
/s/ John A. Hill
-----------------------------------
John A. Hill
Schedule I is hereby amended by adding the following at the end thereof:
Thomas R. Denison
Managing Director, General Counsel,
Chief Administrative Officer
and Assistant Secretary
Dated July 15, 1998
Page 8 of 8
<PAGE> 9
INDEX TO EXHIBITS
The Index to Exhibits is hereby amended by adding the following:
E. Joint Filing Agreement, dated July 6, 1998, between First Reserve Fund VII,
Limited Partnership, First Reserve GP VII, L.P. and First Reserve Corporation
relating to the filing of a joint statement on Schedule 13D.
F. Assignment and Assumption Agreement dated July 6, 1998 by and between First
Reserve Corporation and First Reserve GP VII, L.P.
<PAGE> 1
Exhibit E
JOINT FILING AGREEMENT
We, the signatories of the statement on Schedule 13D to which this
Agreement is attached, hereby agree that such statement is, and any amendments
thereto filed by any of us will be, filed on behalf of each of us.
FIRST RESERVE CORPORATION
By: /s/ Thomas R. Denison
-----------------------------------
Thomas R. Denison
Managing Director
FIRST RESERVE GP VII, L.P.
By First Reserve Corporation,
as General Partner
By: /s/ Thomas R. Denison
---------------------------------
Thomas R. Denison
Managing Director
FIRST RESERVE FUND VII, LIMITED PARTNERSHIP
By First Reserve GP VII, L.P.,
as General Partner
By First Reserve Corporation,
as General Partner
By: /s/ Thomas R. Denison
---------------------------------
Thomas R. Denison
Managing Director
/s/ William E. Macaulay
-----------------------------------
William E. Macaulay
/s/ John A. Hill
-----------------------------------
John A. Hill
<PAGE> 1
Exhibit F
ASSIGNMENT AND ASSUMPTION AGREEMENT
ASSIGNMENT AND ASSUMPTION AGREEMENT dated as of July 6, 1998, between
First Reserve Corporation, a Delaware corporation (the "Assignor") and First
Reserve GP VII, L.P., a Delaware limited partnership (the "Assignee").
WHEREAS, the Assignor is the general partner of First Reserve Fund VII,
Limited Partnership, a Delaware limited partnership (the "Partnership"),
pursuant to the Amended and Restated Limited partnership Agreement of the
Partnership dated as of February 28, 1997, by and among the Assignor and the
parties listed therein as limited partners of the Partnership (the "Partnership
Agreement");
WHEREAS, the Assignor desires to transfer and assign to the Assignee
all of Assignor's interest in the Partnership as the General Partner thereof
(the "Transferred Interest") in consideration of the assumption by the Assignee
of all the Assignor's obligations relating to the Transferred Interest; and
WHEREAS, the Assignee has agreed to acquire the Transferred Interest
for such consideration, to become a party to and be bound by the terms of the
Partnership Agreement and to be admitted to the Partnership as a substituted
general partner with respect to the Transferred Interest as provided in the
Partnership Agreement;
NOW, THEREFORE, in consideration of the mutual covenants and agreements
herein made and intending to be legally bound, the parties hereto hereby agree
as follows:
1. Capitalized terms used herein which are not defined herein
shall have their respective meanings set forth in the Partnership Agreement.
2. The Assignor hereby assigns to the Assignee all of its
right, title and interest as the General Partner in the Partnership represented
by the Transferred Interest, including all amounts due and to become due to the
Assignor with respect to the Transferred Interest, in exchange for the
assumption by the Assignee of the obligations referred to in Section 3 below.
3. The Assignee hereby assumes, and agrees to pay and perform,
all unperformed obligations of the Assignor under and pursuant to the
Partnership Agreement relating to the Transferred Interest. By virtue of the
parties' execution and delivery of this Agreement the Assignee shall become a
party to the Partnership Agreement (and shall be deemed to have executed and
delivered a counterpart thereof), and the Assignee hereby accepts and agrees to
be bound by all of the terms and provisions of the Partnership Agreement as the
General Partner of the Partnership.
<PAGE> 2
4. All the parties hereto agree that as a result of the
execution and delivery of this Agreement, for purposes of the Partnership
Agreement the Assignee shall be substituted as General Partner of the
Partnership in the stead of the Assignor, and the Assignor shall withdraw as a
general partner of the Partnership immediately thereafter.
5. This Agreement may be executed in several counterparts, all
of which will together constitute a single agreement among the parties. This
Agreement will be governed by, and interpreted in accordance with, the laws of
the State of Delaware.
IN WITNESS WHEREOF, the undersigned have executed this Agreement with
effect as of July 6, 1998.
ASSIGNOR:
FIRST RESERVE CORPORATION
By: /s/ William Macaulay
-------------------------------
William Macaulay
Managing Director
ASSIGNEE:
FIRST RESERVE GP VII, L.P.
By: First Reserve Corporation,
its General Partner
By: /s/ William Macaulay
-------------------------------
William Macaulay
Managing Director
