MARINE DRILLING COMPANIES INC
SC 13G/A, 1996-02-14
DRILLING OIL & GAS WELLS
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<PAGE>
 
                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549


                                SCHEDULE 13G/A


                   Under the Securities Exchange Act of 1934
                              (Amendment No. 1)*


                        Marine Drilling Companies, Inc.
        --------------------------------------------------------------
                               (Name of Issuer)


                                 Common Stock
        -------------------------------------------------------------- 
                        (Title of Class of Securities)


                                   568240204
                         -----------------------------
                                (CUSIP Number)

                                        
Check the following box if a fee is being paid with the statement [_] (A fee is
not required only if the reporting 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
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).

                               Page 1 of 4 Pages
<PAGE>
 
- -------------------                         -----------------      
CUSIP No. 568240204            13G          Page 2 of 4 Pages
- -------------------                         -----------------      
- --------------------------------------------------------------------------
 1.    NAME OF REPORTING PERSON
       S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                 Aeneas Venture Corporation 
- --------------------------------------------------------------------------
                                                           (a)        [ ]
 2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 
                                                           (b)        [ ]
- --------------------------------------------------------------------------
 3.    SEC USE ONLY
- --------------------------------------------------------------------------
 4.    CITIZENSHIP OR PLACE OF ORGANIZATION
                 Delaware 
- --------------------------------------------------------------------------
                 5.    SOLE VOTING POWER    
 NUMBER OF                 2,332,331 shares          
   SHARES        -------------------------------------------------------- 
BENEFICIALLY     6.    SHARED VOTING POWER                                  
  OWNED BY                 ---
    EACH         --------------------------------------------------------
 REPORTING       7.    SOLE DISPOSITIVE POWER 
   PERSON                  2,332,331 shares    
    WITH         --------------------------------------------------------
                 8.    SHARED DISPOSITIVE POWER 
                           --- 
- --------------------------------------------------------------------------
 9.    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
       PERSON
                 2,332,331 shares
- --------------------------------------------------------------------------
 10.   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES          [ ]
       CERTAIN SHARES*
- --------------------------------------------------------------------------
 11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
                 5.3%
- --------------------------------------------------------------------------
 12.   TYPE OF REPORTING PERSON*
                 CO
- --------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
 
                                 SCHEDULE 13G
                                 ------------


Item 1(a)   Name of Issuer:
               Marine Drilling Companies, Inc.

     1(b)   Address of Issuer's Principal Executive Offices:
               One Sugar Creek Center Blvd.
               Suite 600
               Sugar Land, TX  77478

Item 2(a)   Name of Person Filing:
               Aeneas Venture Corporation

     2(b)   Address of Principal Business Office or, if none,
               Residence:
                 c/o Harvard Management Company, Inc.
                 600 Atlantic Avenue
                 Boston, MA  02210

     2(c)   Citizenship:
               Delaware

     2(d)   Title of Class of Securities:
               Common Stock

     2(e)   CUSIP Number:
               568240204

Item 3      If this statement is filed pursuant to Rules 13d-1(b), or
            13d-2(b):
               The entity filing is a wholly-owned subsidiary of the endowment
               fund of Harvard University.

Item 4(a)   Amount beneficially owned:
               2,332,331 shares

     4(b)   Percent of Class:
               5.3%

     4(c)   Number of shares as to which such person has:

            (i)  sole power to vote or to direct the vote:
                 2,332,331 shares

            (ii) shared power to vote or to direct the vote:

                     ------

                               Page 3 of 4 Pages
<PAGE>
 
        (iii) sole power to dispose or to direct the disposition of:
              2,332,331 shares

        (iv) shared power to dispose or to direct the disposition of:

                     ------

Item 5  Ownership of Five Percent or less of a Class:

          Although Item 4 reflects the reporting person's ownership as of
          December 31, 1995, as of the date hereof, the reporting person has
          ceased to be a beneficial owner of more than five percent of the class
          of securities.

Item 6    Ownership of more than Five Percent on behalf of another person:
               Not Applicable.

Item 7    Identification and Classification of the Subsidiary which Acquired the
          Security Being Reported on by the Parent Holding Company:
               Not Applicable.

Item 8    Identification and Classification of Members of the Group:
               Not Applicable.

Item 9    Notice of Dissolution of Group:
               Not Applicable.

Item 10   Certification:

          By signing below the undersigned certifies that, to the best of its
          knowledge and belief, the securities referred to above were acquired
          in the ordinary course of business and were not acquired for the
          purpose of and do not have the effect of changing or influencing the
          control of the issuer of such securities and were not acquired in
          connection with or as a participant in any transaction having such
          purposes or effect.

          After reasonable inquiry and to the best of its knowledge and belief,
          the undersigned certifies that the information set forth in this
          statement is true, complete and correct.


                                           AENEAS VENTURE CORPORATION

                                           By:   /s/ Verne O. Sedlacek
                                              -------------------------------
                                              Name:  Verne O. Sedlacek
                                              Title: Authorized Signatory

February 13, 1996

                               Page 4 of 4 Pages


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