<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
------------------
AMENDMENT NO. 2 TO
SCHEDULE 13D
Under the Securities Exchange Act of 1934
BELCO OIL & GAS CORP.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
077410 10 8
- --------------------------------------------------------------------------------
(CUSIP Number)
Robert A. Belfer
767 Fifth Avenue, 46th Floor
New York, New York 10153
(212) 644-2200
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 12, 1998
- --------------------------------------------------------------------------------
(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(b)(3) or (4), check the following
box: [ ]
Check the following box if a fee is being paid with this statement [ ].
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, as amended (the "Act"), or otherwise subject to the liabilities of
that Section of the Act but shall be subject to all other provisions of the Act.
The total number of shares reported herein is 15,598,454 shares, which
constitutes 42.7% of the total number of shares outstanding. Ownership
percentages set forth herein assume that at June 12, 1998 there were 36,549,004
(including 31,614,400 shares of Common Stock and 4,370,000 shares of Preferred
Stock convertible into 4,934,604 shares of Common Stock, at a conversion rate of
1.1292 shares of Common Stock per share of Preferred Stock, for calculation
purposes) shares outstanding.
<PAGE> 2
<TABLE>
<S> <C> <C>
CUSIP NUMBER: 077410108
- ---------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Robert A. Belfer
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- ---------------------------------------------------------------------------------------------------------------------------
5 CHECK 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
NUMBER
OF 6,603,068
SHARES ---------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY 4,659,122
EACH ---------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 6,603,068
---------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,659,122
- ---------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,262,190
- ---------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ---------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.8%
- ---------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 3
<TABLE>
<S> <C> <C>
CUSIP NUMBER: 077410108
- ---------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Renee E. Belfer
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- ---------------------------------------------------------------------------------------------------------------------------
5 CHECK 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
NUMBER
OF 2,825,926
SHARES ---------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY 1,510,338
EACH ---------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 2,825,926
---------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,510,338
- ---------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,336,264
- ---------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ---------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.9%
- ---------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 4
<TABLE>
<S> <C> <C>
CUSIP NUMBER: 077410108
- ---------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Belfer Corp.
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- ---------------------------------------------------------------------------------------------------------------------------
5 CHECK 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 1,116,279
SHARES ---------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH ---------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 1,116,279
---------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- ---------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,116,279
- ---------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ---------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.1%
- ---------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 5
<TABLE>
<S> <C> <C>
CUSIP NUMBER: 077410108
- ---------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Robert A. & Renee E. Belfer Family Foundation
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- ---------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ---------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 500,000
SHARES ---------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH ---------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 500,000
---------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- ---------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
500,000
- ---------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ---------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.4%
- ---------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 6
<TABLE>
<S> <C> <C>
CUSIP NUMBER: 077410108
- ---------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Trust for the benefit of Rachelle L. Belfer (T-2)
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- ---------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ---------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 503,446
SHARES ---------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH ---------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 503,446
---------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- ---------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
503,446
- ---------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ---------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.4%
- ---------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 7
<TABLE>
<S> <C> <C>
CUSIP NUMBER: 077410108
- ---------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Trust for the benefit of Rachelle L. Belfer (T-3)
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- ---------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ---------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 503,446
SHARES ---------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH ---------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 503,446
---------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- ---------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
503,446
- ---------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ---------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.4%
- ---------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 8
<TABLE>
<S> <C> <C>
CUSIP NUMBER: 077410108
- ---------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Trust for the benefit of Laurence D. Belfer (T-4)
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- ---------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ---------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 503,446
SHARES ---------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH ---------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 503,446
---------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- ---------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
503,446
- ---------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ---------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.4%
- ---------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 9
<TABLE>
<S> <C> <C>
CUSIP NUMBER: 077410108
- ---------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Trust for the benefit of Laurence D. Belfer (T-5)
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- ---------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ---------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 503,446
SHARES ---------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH ---------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 503,446
---------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- ---------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
503,446
- ---------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ---------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.4%
- ---------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 10
<TABLE>
<S> <C> <C>
CUSIP NUMBER: 077410108
- ---------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Trust for the benefit of Elizabeth K. Belfer (T-6)
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- ---------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ---------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 503,446
SHARES ---------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH ---------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 503,446
---------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- ---------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
503,446
- ---------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ---------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.4%
- ---------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 11
<TABLE>
<S> <C> <C>
CUSIP NUMBER: 077410108
- ---------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Trust for the benefit of Elizabeth K. Belfer (T-7)
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- ---------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ---------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 503,446
SHARES ---------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH ---------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 503,446
---------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- ---------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
503,446
- ---------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ---------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.4%
- ---------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 12
<TABLE>
<S> <C> <C>
CUSIP NUMBER: 077410108
- ---------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Trust for the benefit of Renee E. Belfer (T-8)
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- ---------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ---------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 1,374,087
SHARES ---------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH ---------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 1,374,087
---------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- ---------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,374,087
- ---------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ---------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.8%
- ---------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 13
<TABLE>
<S> <C> <C>
CUSIP NUMBER: 077410108
- ---------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON A&B Investors, Inc.
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- ---------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ---------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 158,088
SHARES ---------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH ---------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 158,088
---------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- ---------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
158,088
- ---------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ---------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.43%
- ---------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 14
<TABLE>
<S> <C> <C>
CUSIP NUMBER: 077410108
- ---------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Belwest Petroleum, Inc.
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- ---------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ---------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- ---------------------------------------------------------------------------------------------------------------------------
5 CHECK 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 330
SHARES ---------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH ---------------------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 330
---------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- ---------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
330
- ---------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ---------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.0009%
- ---------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 15
CUSIP NO. 077410207 SCHEDULE 13D
AMENDMENT NO. 2 TO SCHEDULE 13D
FILED PURSUANT TO RULE 13-D OF
THE GENERAL RULES AND REGULATIONS
UNDER THE SECURITIES EXCHANGE ACT
OF 1934, AS AMENDED
THIS AMENDMENT NO. 2 RELATES TO THE SCHEDULE 13D ORIGINALLY FILED ON BEHALF OF
THE FILING PERSONS WITH THE SECURITIES AND EXCHANGE COMMISSION (THE
"COMMISSION") ON APRIL 8, 1996, AS AMENDED BY AMENDMENT NO.1 FILED ON BEHALF OF
THE FILING PERSONS WITH THE COMMISSION ON APRIL 9, 1996. THE TEXTS OF ITEMS 1,
2, 3, 4, 5 AND 6 OF SAID SCHEDULE 13D ARE HEREBY AMENDED AS FOLLOWS:
ITEM 1. SECURITY AND ISSUER.
This statement relates to the common stock, par value $.01 per share (the
"Common Stock"), and the 6 1/2% convertible preferred stock, par value $.01 per
share (the "Preferred Stock"), of Belco Oil & Gas Corp., a Nevada corporation
("Belco"). The principal executive offices of Belco are located at 767 Fifth
Avenue, 46th Floor, New York, New York 10153.
ITEM 2. IDENTITY AND BACKGROUND
This statement is filed by Robert A. Belfer, Renee E. Belfer, Belfer Corp.
(formerly Belco Energy Corp.), a Delaware corporation ("BC"), Belwest Petroleum,
Inc., a Delaware corporation ("BPI"), Robert A. & Renee E. Belfer Family
Foundation ("Belfer Foundation"), A&B Investors, Inc., a Delaware corporation
("A&B"), and each of the trusts (collectively, the "Trusts") described below
(collectively, the "Filing Persons").
The Trusts and their respective trustees are as follows:
1. Trust for the benefit of Rachelle L. Belfer (T-2), Robert A. Belfer and
Renee E. Belfer, Trustees
2. Trust for the benefit of Rachelle L. Belfer (T-3), Renee E. Belfer,
Trustee
3. Trust for the benefit of Laurence D. Belfer (T-4), Robert A. Belfer and
Renee E. Belfer, Trustees
4. Trust for the benefit of Laurence D. Belfer (T-5), Renee E. Belfer,
Trustee
5. Trust for the benefit of Elizabeth K. Belfer (T-6), Robert A. Belfer
and Renee E. Belfer, Trustees
6. Trust for the benefit of Elizabeth K. Belfer (T-7), Renee E. Belfer,
Trustee
7. Trust for the benefit of Renee E. Belfer (T-8), Robert A. Belfer,
Trustee
The current mailing address for Robert A. Belfer, Renee E. Belfer, BC, BPI,
Belfer Foundation and the Trusts is 767 Fifth Avenue, 46th Floor, New York, New
York 10153. The current mailing address for A&B is 333 Clay Avenue, Suite 4150,
Three Allen Center, Houston, Texas 77002. Robert A. Belfer is Chairman of the
Board, and Chief Executive Officer of Belco at the address listed in Item 1.
Renee E. Belfer is not employed.
<PAGE> 16
None of the Filing Persons has been convicted in a criminal proceeding
during the last five years. None of the Filing Persons has been, during the last
five years, a party to a civil proceeding of a judicial or administrative body
resulting in a judgment, decree or final order enjoining future violations of,
or prohibiting or mandating activities subject to, federal or state securities
laws or finding any violation with respect to such laws.
Robert A. Belfer and Renee E. Belfer are United States citizens.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Since the filing of the Schedule 13D, Robert A. Belfer has purchased 6,000
shares of Common Stock for his own account with personal funds, Renee E. Belfer
has purchased 75,800 shares of Common Stock for her own account with personal
funds and Belfer Corp. has purchased 5,000 shares of Common Stock for its own
account with corporate funds. Such shares of Common Stock were purchased in open
market transactions. On March 10, 1998, BC purchased 240,000 shares of Preferred
Stock for its own account with corporate funds, the Trust for the benefit of
Renee E. Belfer purchased 160,000 shares of Preferred Stock for its own account
with trust funds, and A&B purchased 140,000 shares of Preferred Stock for its
own account with corporate funds. All of such shares of Preferred Stock were
purchased from underwriters in an underwritten public offering by the Company.
Subsequent to such date, Robert A. Belfer purchased 6,000 shares of Preferred
Stock for his own account with personal funds and Renee E. Belfer purchased
18,000 shares of Preferred Stock for her own account with personal funds in open
market transactions. None of such persons borrowed any funds to acquire the
Common Stock or the Preferred Stock.
ITEM 4. PURPOSE OF TRANSACTION.
Since the filing of the statement on Schedule 13D, certain of the Filing
Persons have acquired additional shares of Common Stock in the open market
through brokerage transactions. In addition, certain of the Filing Persons have
acquired shares of Preferred Stock. Each of these acquisitions was made for
investment purposes. Mr. Belfer and the other Filing Persons intend to review
their investment in the Company on a continuing basis and, depending upon the
price of the Common Stock and the Preferred Stock, subsequent developments
affecting the Company, the Company's business and prospects, general stock
market and economic conditions, tax considerations and other factors deemed
relevant, may purchase additional shares of Common Stock and Preferred Stock
from time to time in the open market or in privately negotiated transactions.
Any such purchases will be for the account of the Filing Person making the
purchase and will be made with the personal or corporate funds of the acquiring
Filing Person. From time to time shares of Common Stock or Preferred Stock may
be transferred by gift or other similar disposition to third parties.
Except as set forth in this Item 4, none of the Filing Persons has any
plans or proposal that relates to or would result in any of the actions
specified in clauses (a) through (j) of Item 4 to Schedule 13D.
ITEM 5. INTERESTS IN SECURITIES OF ISSUER.
(a) (i) ROBERT A. BELFER. Robert A. Belfer owns 6,596,293 shares (18%)
of Common Stock and 6,000 shares of Preferred Stock
convertible into 6,775 shares of Common Stock for a total of
6,603,068 shares of Common Stock (18.1%). By virtue of being
the sole executive officer and director of BC and BPI, Donor
Trustee of the Belfer Foundation, 50% owner of A&B and trustee
or co-trustee of certain of the
<PAGE> 17
Trusts, Robert A. Belfer may be deemed to share voting and
dispositive powers with respect to those shares held by BC,
BPI, the Belfer Foundation, A&B and the Trusts of which he is
trustee or co-trustee, representing an aggregate of 4,049,354
shares (11.1%) of Common Stock and 540,000 shares of Preferred
Stock convertible into 609,768 shares of Common Stock for a
total of 4,659,122 shares (12.7%) of Common Stock.
(ii) RENEE E. BELFER. Renee E. Belfer owns 2,805,601 shares
(7.7%) of Common Stock and 18,000 shares of Preferred Stock
convertible into 20,325 shares of Common Stock for a total of
2,825,926 shares (7.7%) of Common Stock. By virtue of being
the trustee or co-trustee of certain of the Trusts, Renee E.
Belfer may be deemed to share voting and dispositive power
with respect to those Trusts of which she is trustee or
co-trustee, representing an aggregate of 1,510,338 shares
(4.1%) of Common Stock.
(iii) BC. BC holds 845,271 shares (2.3%) of Common Stock and
240,000 shares of Preferred Stock convertible into 271,008
shares of Common Stock for a total of 1,116,279 shares (3.1%)
of Common Stock.
(iv) BPI. BPI holds 330 shares (less than 1%) of Common Stock.
(v) BELFER FOUNDATION. Belfer Foundation holds 500,000 shares
(1.4%) of Common Stock.
(vi) A&B. A&B holds 140,000 shares of Preferred Stock
convertible into 158,088 (.4%) shares of Common Stock
(vii) TRUST FOR THE BENEFIT OF RACHELLE L. BELFER (T-2). This
Trust holds 503,446 shares (1.4%) of Common Stock.
(viii) TRUST FOR THE BENEFIT OF RACHELLE L. BELFER (T-3). This
Trust holds 503,446 shares (1.4%) of Common Stock.
(ix) TRUST FOR THE BENEFIT OF LAURENCE D. BELFER (T-4). This
Trust holds 503,446 shares (1.4%) of Common Stock.
(x) TRUST FOR THE BENEFIT OF LAURENCE D. BELFER (T-5). This
Trust holds 503,446 shares (1.4%) of Common Stock.
(xi) TRUST FOR THE BENEFIT OF ELIZABETH K. BELFER (T-6). This
Trust holds 503,446 shares (1.4%) of Common Stock.
(xii) TRUST FOR THE BENEFIT OF ELIZABETH K. BELFER (T-7). This
Trust holds 503,446 (1.4%) of Common Stock.
(xiii) TRUST FOR THE BENEFIT OF RENEE E. BELFER (T-8). This
Trust holds 1,193,415 shares (3.3%) of Common Stock and
160,000 shares of Preferred Stock convertible into 180,672
shares of Common Stock for a total of 1,374,087 shares (3.8%)
of Common Stock.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
See Item 4 hereof.
<PAGE> 18
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.
Date: June 12, 1998
<TABLE>
<S> <C>
TRUST FOR THE BENEFIT OF
LAURENCE D. BELFER (T-5)
/s/ Renee E. Belfer
/s/ Robert A. Belfer -------------------------------------------
- -------------------------------------- By: Renee E. Belfer, Trustee
Robert A. Belfer
TRUST FOR THE BENEFIT OF
/s/ Renee E. Belfer ELIZABETH K. BELFER (T-6)
- --------------------------------------
Renee E. Belfer /s/ Robert A. Belfer
-------------------------------------------
BELFER CORP. By: Robert A. Belfer, Co-Trustee
/s/ Robert A. Belfer
- -------------------------------------- /s/ Renee E. Belfer
By: Robert A. Belfer -------------------------------------------
President By: Renee E. Belfer, Co-Trustee
TRUST FOR THE BENEFIT OF TRUST FOR THE BENEFIT OF
RACHELLE L. BELFER (T-2) ELIZABETH K. BELFER (T-7)
/s/ Robert A. Belfer /s/ Renee E. Belfer
- -------------------------------------- -------------------------------------------
By: Robert A. Belfer, Co-Trustee By: Renee E. Belfer, Trustee
TRUST FOR THE BENEFIT OF
/s/ Renee E. Belfer RENEE E. BELFER (T-8)
- --------------------------------------
By: Renee E. Belfer, Co-Trustee /s/ Robert A. Belfer
-------------------------------------------
TRUST FOR THE BENEFIT OF By: Robert A. Belfer, Trustee
RACHELLE L. BELFER (T-3)
A&B INVESTORS, INC.
/s/ Renee E. Belfer
- -------------------------------------- /s/ Robert A. Belfer
By: Renee E. Belfer, Trustee -------------------------------------------
By: Robert A. Belfer
TRUST FOR THE BENEFIT OF
LAURENCE D. BELFER (T-4)
/s/ Robert A. Belfer
- --------------------------------------
By: Robert A. Belfer, Co-Trustee
/s/ Renee E. Belfer,
- --------------------------------------
By: Renee E. Belfer, Co-Trustee
</TABLE>
<PAGE> 19
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
BELCO OIL & GAS CORP.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
077410 10 8
- --------------------------------------------------------------------------------
(CUSIP Number)
Robert A. Belfer
767 Fifth Avenue, 46th Floor
New York, New York 10153
(212) 644-2200
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 29, 1996
- --------------------------------------------------------------------------------
(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(b)(3) or (4), check the following
box. [ ]
Check the following box if a fee is being paid with this statement. x
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, as amended (the "Act"), or otherwise subject to the
liabilities of that Section of the Act but shall be subject to all other
provisions of the Act.
The total number of shares reported herein is 18,149,344 shares, which
constitutes 5.8 % of the total number of shares outstanding. Ownership
percentages set forth herein assume that at March 29, 1996 there were
31,500,000 shares outstanding.
<PAGE> 20
<TABLE>
<S> <C>
CUSIP NUMBER: 077410108
- -------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Robert A. Belfer
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- -------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- -------------------------------------------------------------------------------------------------------------------------
5 CHECK 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
NUMBER
OF 7,029,379
SHARES -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY 5,237,786
EACH -----------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 7,029,379
-----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,237,786
- -------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,267,165
- -------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
38.9%
- -------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 21
<TABLE>
<S> <C>
CUSIP NUMBER: 077410108
- -------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Renee E. Belfer
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- -------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- -------------------------------------------------------------------------------------------------------------------------
5 CHECK 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
NUMBER
OF 2,729,801
SHARES -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY 3,152,378
EACH -----------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 2,729,801
-----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,152,378
- -------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,882,179
- -------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.6%
- -------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 22
<TABLE>
<S> <C>
CUSIP NUMBER: 077410108
- -------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Belco Energy Corp.
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- -------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- -------------------------------------------------------------------------------------------------------------------------
5 CHECK 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 840,271
SHARES -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 840,271
-----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- -------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
840,271
- -------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- -------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 23
<TABLE>
<S> <C>
CUSIP NUMBER: 077410108
- -------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Robert A. Belfer 1983 Grantor Trust
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- -------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- -------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 1,642,040
SHARES -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 1,642,040
-----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- -------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,642,040
- -------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.2%
- -------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 24
<TABLE>
<S> <C>
CUSIP NUMBER: 077410108
- -------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Trust for the benefit of Rachelle L. Belfer (T-2)
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- -------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- -------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 503,446
SHARES -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 503,446
-----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- -------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
503,446
- -------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6%
- -------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 25
<TABLE>
<S> <C>
CUSIP NUMBER: 077410108
- -------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Trust for the benefit of Rachelle L. Belfer (T-3)
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- -------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- -------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 503,446
SHARES -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 503,446
-----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- -------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
503,446
- -------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6%
- -------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 26
<TABLE>
<S> <C>
CUSIP NUMBER: 077410108
- -------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Trust for the benefit of Laurence D. Belfer (T-4)
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- -------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- -------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 503,446
SHARES -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 503,446
-----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- -------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
503,446
- -------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6%
- -------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 27
<TABLE>
<S> <C>
CUSIP NUMBER: 077410108
- -------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Trust for the benefit of Laurence D. Belfer (T-5)
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- -------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- -------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 503,446
SHARES -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 503,446
-----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- -------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
503,446
- -------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6%
- -------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 28
<TABLE>
<S> <C>
CUSIP NUMBER: 077410108
- -------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Trust for the benefit of Elizabeth K. Belfer (T-6)
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- -------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- -------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 503,446
SHARES -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 503,446
-----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- -------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
503,446
- -------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6%
- -------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 29
<TABLE>
<S> <C>
CUSIP NUMBER: 077410108
- -------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Trust for the benefit of Elizabeth K. Belfer (T-7)
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- -------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- -------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 503,446
SHARES -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 503,446
-----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- -------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
503,446
- -------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6%
- -------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 30
<TABLE>
<S> <C>
CUSIP NUMBER: 077410108
- -------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Trust for the benefit of Renee E. Belfer (T-8)
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- -------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- -------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 1,160,675
SHARES -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 1,160,675
-----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- -------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,160,675
- -------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.7%
- -------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 31
<TABLE>
<S> <C>
CUSIP NUMBER: 077410108
- -------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Laurence D. Belfer Descendants' Trust
U/W Arthur B. Belfer
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- -------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- -------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 564,481
SHARES -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 564,481
-----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- -------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
564,481
- -------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.8%
- -------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 32
<TABLE>
<S> <C>
CUSIP NUMBER: 077410108
- -------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Rachelle B. Malkin Descendants' Trust
U/W Arthur B. Belfer
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- -------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- -------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 564,470
SHARES -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 564,470
-----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- -------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
564,470
- -------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.8%
- -------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 33
<TABLE>
<S> <C>
CUSIP NUMBER: 077410108
- -------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Elizabeth K. Belfer Descendants' Trust
U/W Arthur B. Belfer
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- -------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- -------------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -------------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER
OF 564,481
SHARES -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 564,481
-----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- -------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
564,481
- -------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.8%
- -------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 34
<TABLE>
<S> <C>
CUSIP NUMBER: 077410108
- -------------------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Belwest II Oil & Gas, L.P.
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
- -------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
- -------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- -------------------------------------------------------------------------------------------------------------------------
5 CHECK 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 33,070
SHARES -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 33,070
-----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- -------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
33,070
- -------------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.1%
- -------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- -------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 35
CUSIP NO. 077410108 SCHEDULE 13D
SCHEDULE 13D
FILED PURSUANT TO RULE 13-D OF
THE GENERAL RULES AND REGULATIONS
UNDER THE SECURITIES EXCHANGE ACT
OF 1934, AS AMENDED
All calculations of percentage ownership in this Schedule 13D are
based on the number of shares of Common Stock issued and outstanding on March
29, 1996.
ITEM 1. SECURITY AND ISSUER.
Robert A. Belfer, Renee E. Belfer, Belco Energy Corp., a Delaware
corporation ("BEC"), Belwest II Oil & Gas, L.P., a Delaware limited partnership
("BIIOG"), and each of the trusts (collectively, the "Trusts") described below
hereby file a Schedule 13D dated March 29, 1996 relating to the common stock,
par value $.01 per share ("Common Stock"), of Belco Oil & Gas Corp., a Delaware
corporation ("Belco"). The principal executive offices of Belco are located
at 767 Fifth Avenue, 46th Floor, New York, New York 10153.
The Trusts and their respective trustees are as follows:
1. Robert A. Belfer 1983 Grantor Trust, Renee E. Belfer and
Richard Ruben, Trustees
2. Trust for the benefit of Rachelle L. Belfer (T-2), Robert A.
Belfer and Renee E. Belfer, Trustees
3. Trust for the benefit of Rachelle L. Belfer (T-3), Renee E.
Belfer, Trustee
4. Trust for the benefit of Laurence D. Belfer (T-4), Robert A.
Belfer and Renee E. Belfer, Trustees
5. Trust for the benefit of Laurence D. Belfer (T-5), Renee E.
Belfer, Trustee
6. Trust for the benefit of Elizabeth K. Belfer (T-6), Robert A.
Belfer and Renee E. Belfer, Trustees
7. Trust for the benefit of Elizabeth K. Belfer (T-7), Renee
E.Belfer, Trustee
8. Trust for the benefit of Renee E. Belfer (T-8), Robert A.
Belfer, Trustee
9. Laurence D. Belfer Descendants' Trust U/W Arthur B. Belfer,
Robert A. Belfer, Trustee
10. Rachelle B. Malkin Descendants' Trust U/W Arthur B. Belfer,
Robert A. Belfer, Trustee
11. Elizabeth K. Belfer Descendants' Trust U/W Arthur B. Belfer,
Robert A. Belfer, Trustee
<PAGE> 36
ITEM 2. IDENTITY AND BACKGROUND.
The current mailing address for Robert A. Belfer, Renee E. Belfer,
Richard Ruben, BEC, BIIOG, Belwest Petroleum Inc., a Delaware corporation
("BPI") and the Trusts is 767 Fifth Avenue, 46th Floor, New York, New York
10153. Robert A. Belfer is Chairman of the Board, President and Chief
Executive Officer of Belco at the address listed in Item 1. Renee E. Belfer is
not employed. Richard Ruben, co-trustee of the Robert A. Belfer Grantor Trust,
is engaged in real estate investments. His address is 600 Madison Avenue, New
York, New York 10022.
None of the above persons has been convicted in a criminal proceeding
during the last five years. None of the above persons has been, during the
last five years, a party to a civil proceeding of a judicial or administrative
body resulting in a judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, federal or state
securities laws or finding any violation with respect to such laws.
Robert A. Belfer, Renee E. Belfer and Richard Ruben are United States
citizens.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The Common Stock held by the persons identified in Item 2 was acquired
in exchange for certain ownership interests in certain predecessor entities of
Belco and direct interest in oil and gas properties and certain hedge
transactions. None of such persons borrowed any funds to acquire the Common
Stock. In addition, Robert A. Belfer purchased 100 shares for his own account
with personal funds.
ITEM 4. PURPOSE OF TRANSACTION.
Belco was organized as a Nevada corporation in January 1996 in
connection with the combination of the Combined Assets. The Combined Assets
consist of ownership interests in certain entities (the "Predecessors") and
direct interests in oil and gas properties and certain hedge transactions owned
by members of the Robert A. Belfer family and by employees of the Predecessors
and entities related thereto. The Predecessors include (i) Belco Energy L.P.,
a Delaware limited partnership whose general partner and limited partners are
members of the Robert A. Belfer family and entities controlled by such family
members, and (ii) corporate affiliates whose capital stock is owned by the
Robert A. Belfer family. Belco and the owners of the Combined Assets have
entered into an Exchange and Subscription Agreement and Plan of Reorganization,
dated as of January 1, 1996 (the "Exchange Agreement"), that provided for the
issuance by Belco of an aggregate of 25 million shares of Common Stock to such
owners in exchange for the Combined Assets. This transaction was consummated
on March 29, 1996.
Each of the persons identified in Item 2 hold the Common Stock for
investment purposes only and have not entered into any agreement or
understanding, nor currently have any plans or proposals, which relate to or
would result in any of the events enumerated in sections (a)-(j) of Item 4 of
Schedule 13D, except that Robert A. Belfer may purchase shares of the Common
Stock from time to time.
<PAGE> 37
ITEM 5. INTEREST IN SECURITIES OF ISSUER.
(a) (i) ROBERT A. BELFER. Robert A. Belfer owns 7,029,379
shares (22.3%) of Common Stock. By virtue of being the sole
executive officer and director of BEC and BPI and the sole
general partner of BIIOG, and trustee or co-trustee of certain
of the Trusts, Robert A. Belfer may be deemed to share voting
and dispositive powers with respect to those shares held by
BEC, BIIOG and the Trusts of which he is trustee or
co-trustee, an aggregate of 5,237,786 shares (16.6%).
(ii) RENEE E. BELFER. Renee E. Belfer owns 2,729,801
shares (8.6%) of Common Stock. By virtue of trustee or
co-trustee of certain of the Trusts, Robert A. Belfer may be
deemed to share voting and dispositive powers with respect to
those shares held by BEC, BIIOG and the Trusts of which she is
trustee or co-trustee, an aggregate of 3,152,378 shares
(10.0%).
(iii) BEC. BEC holds 840,271 shares (2.6%) of Common
Stock.
(iv) ROBERT A. BELFER 1983 GRANTOR TRUST. This Trust
holds 1,642,040 shares (5.2%) of Common Stock.
(v) TRUST FOR THE BENEFIT OF RACHELLE L. BELFER (T-2).
This Trust holds 503,446 shares (1.6%) of Common Stock.
(vi) TRUST FOR THE BENEFIT OF RACHELLE L. BELFER (T-3).
This Trust holds 503,446 shares (1.6%) of Common Stock.
(vii) TRUST FOR THE BENEFIT OF LAURENCE D. BELFER (T-4).
This Trust holds 503,446 shares (1.6%) of Common Stock.
(viii) TRUST FOR THE BENEFIT OF LAURENCE D. BELFER (T-5).
This Trust holds 503,446 shares (1.6%) of Common Stock.
(ix) TRUST FOR THE BENEFIT OF ELIZABETH K. BELFER (T-6).
This Trust holds 503,446 shares (1.6%) of Common Stock.
(x) TRUST FOR THE BENEFIT OF ELIZABETH K. BELFER (T-7).
This Trust holds 503,446 shares (1.6%) of Common Stock.
(xi) TRUST FOR THE BENEFIT OF RENEE E. BELFER (T-8). This
Trust holds 1,160,675 shares (3.7%) of Common Stock.
(xii) LAURENCE D. BELFER DESCENDANTS TRUST U/W ARTHUR B.
BELFER. This Trust holds 564,481 shares (1.8%) of Common
Stock.
(xiii) RACHELLE B. MALKIN DESCENDANTS TRUST U/W ARTHUR B.
BELFER. This Trust holds 564,470 shares (1.8%) of Common
Stock.
(xiv) ELIZABETH K. BELFER DESCENDANTS TRUST U/W ARTHUR B.
BELFER. This Trust holds 564,481 shares (1.8%) of Common
Stock.
<PAGE> 38
(b) See (a) above.
(c) Transactions within the last 60 days. See Item 4 above.
(d) No other person is known to have the right to receive or the
power to direct the receipt of dividends from, or the proceed
from the sale of, such securities.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
No contracts, arrangements or understandings exist with respect to the
Common Stock. Robert A. Belfer, Renee E. Belfer, BEC, BIIOG and the Trusts may
be deemed to be a group for purposes of this Schedule 13D.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
The following Exhibit is filed as part of this Schedule 13D:
Exhibit A -- Exchange and Subscription Agreement and Plan
of Reorganization
<PAGE> 39
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.
Date: , 1996
- ----------------------------- TRUST FOR THE BENEFIT OF
Robert A. Belfer RACHELLE L. BELFER (T-3)
By:
- ----------------------------- ----------------------------
Renee E. Belfer Renee E. Belfer, Trustee
TRUST FOR THE BENEFIT OF
BELCO ENERGY CORP. LAURENCE D. BELFER (T-4)
By: By:
-------------------------- ----------------------------
Robert A. Belfer Robert A. Belfer, Trustee
President
ROBERT A. BELFER 1983 TRUST FOR THE BENEFIT OF
GRANTOR TRUST LAURENCE D. BELFER (T-5)
By: By:
-------------------------- ----------------------------
Renee E. Belfer, Trustee Renee E. Belfer, Trustee
TRUST FOR THE BENEFIT OF TRUST FOR THE BENEFIT OF
RACHELLE L. BELFER (T-2) ELIZABETH K. BELFER (T-6)
By: By:
-------------------------- ----------------------------
Robert A. Belfer Robert A. Belfer, Trustee
President
<PAGE> 40
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.
Date: , 1996
TRUST FOR THE BENEFIT OF RACHELLE B. MALKIN
ELIZABETH K. BELFER (T-7) DESCENDANTS' TRUST
U/W ARTHUR B. BELFER
By: By:
-------------------------- ----------------------------
Renee E. Belfer, Trustee Robert A. Belfer, Trustee
TRUST FOR THE BENEFIT OF ELIZABETH K. BELFER
RENEE E. BELFER (T-8) DESCENDANTS' TRUST
U/W ARTHUR B. BELFER
By: By:
-------------------------- ----------------------------
Robert A. Belfer, Trustee Robert A. Belfer, Trustee
LAURENCE D. BELFER BELWEST II OIL & GAS, L.P.
DESCENDANTS' TRUST By: Belwest Petroleum Inc.,
U/W ARTHUR B. BELFER General Partner
By: By:
-------------------------- ----------------------------
Robert A. Belfer, Trustee Robert A. Belfer, President
<PAGE> 41
EXHIBIT INDEX
<TABLE>
<CAPTION>
Sequential Page
Exhibit Description Number
- ------- ----------- ------
<S> <C> <C>
A Exchange and Subscription Agreement and Plan of Reorganization
</TABLE>
<PAGE> 42
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Amendment No. 1
BELCO OIL & GAS CORP.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
077410 10 8
- --------------------------------------------------------------------------------
(CUSIP Number)
Robert A. Belfer
767 Fifth Avenue, 46th Floor
New York, New York 10153
(212) 644-2200
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 29, 1996
- --------------------------------------------------------------------------------
(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(b)(3) or (4), check the following
box. [ ]
Check the following box if a fee is being paid with this statement. [ ]
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, as amended (the "Act"), or otherwise subject to the
liabilities of that Section of the Act but shall be subject to all other
provisions of the Act.
The total number of shares reported herein is 18,149,344 shares, which
constitutes 57.6% of the total number of shares outstanding. Ownership
percentages set forth herein assume that at March 29, 1996 there were
31,500,000 shares outstanding.
This amendment is being filed solely to correct a typographical error
appearing on the cover page of the original 13D filed on April 8, 1996.
