<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D/A
AMENDMENT NO. 2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Patina Oil and Gas Corporation
- -------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
703224105
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(CUSIP Number)
Thomas R. Denison
First Reserve Corporation
1801 California, Suite 4110
Denver, Colorado 80202
(303) 382-1270
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
June 30, 1999
- --------------------------------------------------------------------------------
(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> 2
SCHEDULE 13D/A
CUSIP NO. 703224105 Page 1 of 10
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First Reserve Corporation
I.R.S. No.: 06-1210123
- --------------------------------------------------------------------------------
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*
N/A
- --------------------------------------------------------------------------------
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
NUMBER OF
SHARES 0
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 2,629,974
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
0
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,629,974
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,629,974
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
14.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*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
SCHEDULE 13D/A
CUSIP NO. 703224105 Page 2 of 10
- --------------------------------------------------------------------------------
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. No.: 06-1457408
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [x]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
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
NUMBER OF
SHARES 0
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 2,629,974
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
0
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,629,974
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,629,974
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
14.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*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
SCHEDULE 13D/A
CUSIP NO. 703224105 Page 3 of 10
- --------------------------------------------------------------------------------
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. 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*
N/A
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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
NUMBER OF
SHARES 0
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 2,629,974
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
0
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,629,974
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,629,974
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
14.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*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
SCHEDULE 13D/A
CUSIP NO. 703224105 Page 4 of 10
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
William E. Macaulay
- --------------------------------------------------------------------------------
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*
N/A
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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
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 0
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
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
0.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*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
SCHEDULE 13D/A
CUSIP NO. 703224105 Page 5 of 10
- --------------------------------------------------------------------------------
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
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4 SOURCE OF FUNDS*
N/A
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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
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 0
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
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
0.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*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> 7
This Amendment No. 2 to the statement on Schedule 13D (the
"Statement"), originally filed on October 24, 1997, as amended on July 16, 1998,
is filed by First Reserve Fund VII, Limited Partnership ("Fund VII"), First
Reserve GP VII, Limited Partnership ("GP VII"), First Reserve Corporation
("First Reserve"), William E. Macaulay and John A. Hill (together with Mr.
Macaulay, First Reserve, GP VII and Fund VII, the "Reporting Persons") and
relates to the common stock, par value $0.01 per share (the "Common Stock"), of
Patina Oil & Gas Corporation (the "Issuer" or "Patina"). This Amendment No. 2 is
filed to report increased share ownership through the receipt of dividends of
Preferred Stock that is convertible into Common Stock of the Issuer.
Item 5 is hereby deleted in its entirety and replaced with the
following:
Item 5. Interest in Securities of the Issuer.
(a) As of the date hereof, the Reporting Persons identified in Item 2
are the beneficial owners of Patina Common Stock in the numbers and percentages
set forth in the table below:
<TABLE>
<CAPTION>
REPORTING PARTY NUMBERS OF SHARES PERCENTAGE OF CLASS(2)
BENEFICIALLY OWNED
<S> <C> <C>
Fund VII 2,629,974 14.3%
GP VII(1) 2,629,974 14.3%
First Reserve(1) 2,629,974 14.3%
William E. Macaulay(1) 2,629,974 14.3%
John A. Hill(1) 2,629,974 14.3%
</TABLE>
(1) Consists solely of 2,623,540 shares owned by Fund VII and 3,434 shares and
presently exercisable options to purchase 3,000 shares held by Thomas R.
Denison. Mr. Macaulay and Mr. Hill disclaim beneficial ownership of all such
shares.
(2) Based on 18,429,613 shares of outstanding Common Stock. Includes 15,924,724
shares reported outstanding by the Issuer as of June 3, 1999 and 2,504,889
shares of Common Stock that may be received upon conversion of the Preferred
Shares.
Page 6 of 10
<PAGE> 8
(b) The Reporting Parties and other persons identified in Item 2 have
the following powers with respect to the Patina Common Stock they beneficially
own:
<TABLE>
<CAPTION>
REPORTING PARTY SOLE VOTING POWER SHARED VOTING POWER
<S> <C> <C>
Fund VII 0 2,629,974
GP VII(1) 0 2,629,974
First Reserve(1) 0 2,629,974
William E. Macaulay(1) 0 2,629,974
John A. Hill(1) 0 2,629,974
</TABLE>
(1) Consists solely of 2,623,540 shares owned by Fund VII and 3,434 shares and
presently exercisable options to purchase 3,000 shares held by Thomas R.
Denison. Mr. Macaulay and Mr. Hill disclaim beneficial ownership of all such
shares.
(c) As more fully described in Item 6, pursuant to the Purchase
Agreement, Fund VII acquired from the Issuer 825,397 shares of Preferred Stock
and 82,540 shares of Common Stock for a total price of $20,634,925 on October
21, 1997.
As more fully described in the Issuer's Certificate of Designations for
the Preferred Stock, incorporated by reference as Exhibit D to the original 13D
filed on October 24, 1997, each share of Preferred Stock is convertible into
2.6316 shares of Common Stock. In addition, also as more fully described in Item
6, pursuant to the Option, Fund VII acquired 36,111 shares of Common Stock from
SOCO. The effective fully diluted, weighted average price per share of Common
Stock to Fund VII was $9.0079.
Between the dates the original Statement and first Amendment to this
Statement were filed, Fund VII 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 130,731 shares of
Common Stock.
Since July 16, 1998, when the last Amendment to this Statement was
filed, Fund VII has received dividends on the Preferred Stock it owns in
additional shares of Preferred Stock as follows: 18,595 shares on September 30,
1998, 18,990 shares on December 31, 1998, 19,393 shares on March 31, 1999 and
19,805 shares on June 30, 1999. These 76,783 additional shares of Preferred
Stock are convertible into 202,060 shares of Common Stock and have increased the
shares of Common Stock deemed to be owned by Fund VII (and potentially the other
reporting persons) to 2,629,974, 14.3% of the sum of the Issuer's reported
outstanding Common Stock as of June 3, 1999 and the Common Stock receivable upon
conversion of the Preferred Shares.
Page 7 of 10
<PAGE> 9
Thomas R. Denison is an officer of First Reserve and also a member of
Patina's Board of Directors. As compensation for his membership on Patina's
Board of Directors, Mr. Denison has received stock grants totaling 3,434 shares
of Common Stock and options to purchase 3,000 shares of Common Stock. The
Reporting Persons share dispositive control over these shares, and therefore
beneficial ownership, because First Reserve restricts its officers and directors
from selling or transferring stock in a portfolio company.
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.
Dated: July 7, 1999
First Reserve Corporation
By: /s/ Thomas R. Denison
-------------------------
Name: Thomas R. Denison
Title: Managing Director
First Reserve Fund VII, Limited Partnership
By: First Reserve GP VII, Limited Partnership
as Managing General Partner
By: First Reserve Corporation,
as Managing General Partner
By: /s/ Thomas R. Denison
------------------------
Name: Thomas R. Denison
Title: Managing Director
First Reserve GP VII, Limited Partnership
By: First Reserve Corporation,
as Managing General Partner
By: /s/ Thomas R. Denison
------------------------
Name: Thomas R. Denison
Title: Managing Director
Page 8 of 10
<PAGE> 10
William E. Macaulay
By: /s/ Thomas R. Denison
-------------------------
Name: Thomas R. Denison
his attorney in fact
(See attached Power-of-Attorney)
John A. Hill
By: /s/ Thomas R. Denison
-------------------------
Name: Thomas R. Denison
his attorney in fact
(See attached Power-of-Attorney)
Page 9 of 10
<PAGE> 11
Delete Schedule I and replace with the following:
SCHEDULE I
The name, business address, and present principal occupation or
employment of each of the executive officers and directors of First Reserve
Corporation are set forth below. Unless otherwise indicated, (i) the business
address of each is 475 Steamboat Road, Greenwich, Connecticut 06830; (ii) each
such person is a citizen of the United States; (iii) such person does not have
any other principal occupation; (iv) in the last five years, none have been
convicted in a criminal proceeding (excluding traffic violations, or similar
misdemeanors); and (v) in the last five years, none have been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction
resulting in (y) such person becoming subject to a judgment, decree or final
order enjoining future violations of, or prohibiting or mandating activities
subject to federal or state securities laws or (z) a finding of any violation
with respect to such laws.
NAME AND POSITION WITH FIRST RESERVE CORPORATION
William E. Macaulay
Chairman, Chief Executive Officer, Managing Director and Director
John A. Hill
Vice Chairman, Managing Director and Director
Benjamin A. Guill
President, Managing Director and Director
Jonathan S. Linker
Managing Director
Bruce M. Rothstein
Managing Director
Cathleen M. Ellsworth
Managing Director
Will H. Honeybourne
Managing Director and Director
Thomas R. Denison
Managing Director, General Counsel and Secretary
1801 California St., Suite 4110
Denver, Colorado 80202
Jennifer G. Kornfield
Vice President, Treasurer and Assistant Secretary
Valarie A. Thomason
Assistant Treasurer and Assistant Secretary
Page 10 of 10
<PAGE> 12
POWER OF ATTORNEY
(LIMITED)
KNOW ALL MEN BY THESE PRESENTS, that I, WILLIAM E. MACAULAY, of
GREENWICH, County of FAIRFIELD, State of CONNECTICUT, reposing special trust and
confidence in THOMAS R. DENISON, of LITTLETON, County of ARAPAHOE, State of
COLORADO, have made, constituted and appointed, and by these presents do make,
constitute and appoint the said THOMAS R. DENISON my true and lawful
attorney-in-fact and agent, for me and in my name, place and stead, BOTH FOR ME
PERSONALLY AND IN MY CAPACITY AS CHIEF EXECUTIVE OFFICER OF FIRST RESERVE
CORPORATION, with full power and authority to do and perform each and every act
necessary, as fully as I might do if personally present, to accomplish and
complete the following acts or transactions:
Sign on my behalf, any and all, filings (including filings with the
Securities and Exchange Commission), agreements, notices or documents
arising from, or related to, First Reserve Corporation's holdings,
investments or activities.
I, WILLIAM E. MACAULAY, hereby ratify and confirm all that said THOMAS
R. DENISON might or could lawfully do or lawfully cause to be done by virtue of
this POWER OF ATTORNEY. This POWER OF ATTORNEY shall remain in effect until
revoked and shall not be affected by disability of the principal.
EXECUTED this 27th day of October, 1998.
/s/ William E. Macaulay
---------------------------
William E. Macaulay
STATE of Texas
----------------------------
ss.
County of Harris
----------------------------
The foregoing instrument was acknowledged before me this 27th day of October,
1998 by William E. Macaulay, the Principal.
Witness my hand and official seal. /s/ Clifford Cheadle
---------------------------
Notary
My commission expires: 02-20-2001
/s/ Thomas R. Denison
--------------------------------------
Specimen Signature of Agent (Attorney)
<PAGE> 13
POWER OF ATTORNEY
(LIMITED)
KNOW ALL MEN BY THESE PRESENTS, that I, JOHN A. HILL, of GREENWICH,
County of FAIRFIELD, State of CONNECTICUT, reposing special trust and confidence
in THOMAS R. DENISON, of LITTLETON, County of ARAPAHOE, State of COLORADO, have
made, constituted and appointed, and by these presents do make, constitute and
appoint the said THOMAS R. DENISON my true and lawful attorney-in-fact and
agent, for me and in my name, place and stead, BOTH FOR ME PERSONALLY AND IN MY
CAPACITY AS VICE-CHAIRMAN OF FIRST RESERVE CORPORATION, with full power and
authority to do and perform each and every act necessary, as fully as I might do
if personally present, to accomplish and complete the following acts or
transactions:
Sign on my behalf, any and all, filings (including filings with the
Securities and Exchange Commission), agreements, notices or documents
arising from, or related to, First Reserve Corporation's holdings,
investments or activities.
I, JOHN A HILL, hereby ratify and confirm all that said THOMAS R.
DENISON might or could lawfully do or lawfully cause to be done by virtue of
this POWER OF ATTORNEY. This POWER OF ATTORNEY shall remain in effect until
revoked and shall not be affected by disability of the principal.
EXECUTED this 3rd day of June, 1999.
/s/ John A. Hill
----------------------------
John A. Hill
STATE of Connecticut
----------------------------
ss.
County of Fairfield
----------------------------
The foregoing instrument was acknowledged before me this 3rd day of June, 1999,
by John A. Hill, the Principal.
Witness my hand and official seal. /s/ Deana Ametrano
---------------------------
Notary
My commission expires: Sept. 30, 2003
/s/ Thomas R. Denison
--------------------------------------
Specimen Signature of Agent (Attorney)
