<PAGE> 1
SCHEDULE 13D
(Rule 13d-101)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Under the Securities Exchange Act of 1934
Amendment No. 3
---
Patina Oil & Gas Corporation
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
--------------------------------------------------------------------------------
(Title of Class of Securities)
703224105
--------------------------------------------------------------------------------
(CUSIP Number)
Thomas R. Denison - First Reserve Corporation, 1801 California St., #4110,
Denver, CO 80202, (303) 382-1270
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
June 28, 2000
--------------------------------------------------------------------------------
(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), 13d-1(f) or 13d-1(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).
SEC 1746 (12-91)
<PAGE> 2
-------------------- -----------------
CUSIP No. 703224105 SCHEDULE 13D Page 2 of 8 Pages
-------------------- -----------------
--------------------------------------------------------------------------------
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) /X/
(b) / /
--------------------------------------------------------------------------------
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 0
----------------------------------------------------------
SHARES 8 VOTING POWER
BENEFICIALLY
OWNED BY 2,421,918
----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
2,421,918
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,421,918
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
12.9%
--------------------------------------------------------------------------------
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> 3
-------------------- -----------------
CUSIP No. 703224105 SCHEDULE 13D Page 3 of 8 Pages
-------------------- -----------------
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
--------------------------------------------------------------------------------
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
NUMBER OF 0
----------------------------------------------------------
SHARES 8 VOTING POWER
BENEFICIALLY
OWNED BY 2,421,918
----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
2,421,918
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,421,918
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
12.9%
--------------------------------------------------------------------------------
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
-------------------- -----------------
CUSIP No. 703224105 SCHEDULE 13D Page 4 of 8 Pages
-------------------- -----------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First Reserve GP VII, L.P.
I.R.S. No.: 06-1520256
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
--------------------------------------------------------------------------------
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 0
----------------------------------------------------------
SHARES 8 VOTING POWER
BENEFICIALLY
OWNED BY 2,421,918
----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
2,421,918
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,421,918
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
12.9%
--------------------------------------------------------------------------------
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
This Amendment No. 3 to the statement on Schedule 13D (the
"Statement"), originally filed on October 24, 1997, as amended on July 16, 1998,
and as amended on July 7, 1999, is filed by First Reserve Fund VII, Limited
Partnership ("Fund VII"), First Reserve GP VII, L.P., ("GP VII," and
collectively, the "Funds"), and First Reserve Corporation ("First Reserve," and
together with Fund VII and GP VII, the "Reporting Persons") and relates to the
Common Stock, par value $0.01 per share (the "Common Stock"), of Patina Oil &
Gas Corporation, a Delaware corporation (the "Issuer" or "Patina"). That
Schedule 13D is hereby amended as set forth below.
ITEM 2. IDENTITY AND BACKGROUND.
Item 2 is hereby amended by deleting the first two paragraphs and
replaced with the following, and by deleting the second sentence of the last
paragraph:
This statement is being filed by First Reserve Fund VII, Limited
Partnership, a Delaware limited partnership, and First Reserve GP VII, L.P., a
Delaware limited partnership, and First Reserve Corporation, a Delaware
corporation. John A. Hill and William E. Macaulay each were previously included
as joint filers of this Statement. Neither "controls" First Reserve Corporation
for purposes of Section 13 of the Securities Exchange Act of 1934, and both have
been removed from this Statement.
The Funds are Delaware limited partnerships with limited terms of
existence. Their principal purpose is to make equity, equity-linked and debt
investments in companies engaged in various energy and energy related
activities. Their principal offices are located at 475 Steamboat Road,
Greenwich, CT 06830. First Reserve is a Delaware corporation which raises funds
for and manages the Funds, as well as several other similar entities. First
Reserve's principal business is to act as the managing general partner and
provide investment management services to a limited number of investment
partnerships, including the Funds.
The remaining paragraphs of Item 2 are unchanged.
ITEM 4. PURPOSE OF TRANSACTION.
Item 4 is hereby amended by adding the following paragraph:
First Reserve and the Funds intend to review on a continuing basis the
Funds' investment in the Issuer and may or may not dispose of additional shares,
on the open market or otherwise, subject to: the price and availability of the
Issuer's securities; subsequent developments affecting the energy market as a
whole; the Issuer and the Issuer's business and prospects, and on the eventual
liquidation of the Funds in accordance with their respective partnership
agreements.
Page 5 of 8
<PAGE> 6
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is hereby deleted and replaced with the following:
(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 NUMBER OF SHARES PERCENTAGE OF
BENEFICIALLY OWNED CLASS (2)
<S> <C> <C>
Fund VII 2,421,918 12.9%
GP VII (1) 2,421,918 12.9%
First Reserve (1) 2,421,918 12.9%
</TABLE>
(1) Consists of 377,420 shares of Common Stock held directly by Fund
VII, and 2,044,498 shares receivable upon conversion of 776,903 shares of
Preferred Stock held directly by Fund VII. GP VII is the general partner of Fund
VII and may be deemed to beneficially own the shares of Common Stock owned by
Fund VII. First Reserve, as the general partner of GP VII, may be deemed to
beneficially own all of the shares of Common Stock owned by the Funds. The
Reporting Persons no longer share beneficial ownership of any shares or options
held by Thomas R. Denison which were previously reported on this Statement.
(2) Based upon 18,846,189 shares of outstanding Common Stock. Includes
16,275,371 common shares reported outstanding by the Issuer as of April 26,
2000, 526,320 shares issued upon conversion of shares of Preferred Stock by Fund
VII, and 2,044,498 shares of Common Stock that may be received upon conversion
of the additional Preferred Stock owned by the Reporting Persons.
(b) Each Fund shares with its general partner the power to vote or to
direct the vote of the shares directly held by it. GP VII, as the general
partner of Fund VII, and First Reserve, in its role as general partner of GP
VII, shares with each Fund the power to cause each Fund to dispose of or vote
the shares of Common Stock directly held by such Fund.
Page 6 of 8
<PAGE> 7
(c) During the past 60 days, the following transactions were effected:
<TABLE>
<CAPTION>
REPORTING PARTY DATE NUMBER OF SHARES PRICE TRANSACTION
<S> <C> <C> <C> <C>
Fund VII 5/26/2000 24,501 $18.075 Common Sold
Fund VII 5/30/2000 37,600 $17.955 Common Sold
Fund VII 5/31/2000 7,600 $17.950 Common Sold
Fund VII 6/1/2000 49,400 $17.950 Common Sold
Fund VII 6/16/2000 200,000 Preferred Shares
Converted into Common
Shares (1)
Fund VII 6/19/2000 18,700 $19.462 Common Sold
Fund VII 6/22/2000 7,000 $18.798 Common Sold
Fund VII 6/23/2000 31,200 $19.740 Common Sold
Fund VII 6/26/2000 12,000 $19.265 Common Sold
Fund VII 6/27/2000 45,000 $19.797 Common Sold
Fund VII 6/28/2000 35,000 $20.2939 Common Sold
</TABLE>
(1) On June 16, 2000, Fund VII converted 200,000 shares of its
Preferred Stock into 526,320 common shares based upon the fixed conversion ratio
of 2.6316 common shares for each share of Preferred Stock owned by Fund VII.
(d) To the best knowledge of the Reporting Persons, no other person has
the right to receive, or the power to direct the receipt of dividends from, or
the power to direct the receipt of proceeds of the sale of the shares of Common
Stock owned by the Reporting Persons.
(e) Not applicable
Page 7 of 8
<PAGE> 8
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: June 29, 2000.
FIRST RESERVE FUND VII, LIMITED
PARTNERSHIP
By: First Reserve GP VII, LP, as General Partner
By: First Reserve Corporation,
as General Partner
By: /s/ Thomas R. Denison
----------------------------
Name: Thomas R. Denison
Title: Managing Director
FIRST RESERVE GP VII, LP
By: First Reserve Corporation,
as General Partner
By: /s/ Thomas R. Denison
----------------------------
Name: Thomas R. Denison
Title: Managing Director
FIRST RESERVE CORPORATION
By: /s/ Thomas R. Denison
----------------------------
Name: Thomas R. Denison
Title: Managing Director
Page 8 of 8
