<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)
Laurence D. 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 19, 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 2,802,296 shares, which
constitutes 7.7 % of the total number of shares outstanding. Ownership
percentages set forth herein assume that at June 19, 1998 there were 36,549,004
(including 31,614,400 shares of Common Stock and 4,370,000 shares of Preferred
Stock convertible into 4,394,604 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
CUSIP NUMBER: 077410108
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Laurence D. 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 1,971,767
SHARES -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY 830,529
EACH -----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 1,971,767
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
830,529
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,802,296
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 3
CUSIP NUMBER: 077410108
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON LDB 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 272,855
SHARES -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 272,855
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
272,855
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
<PAGE> 4
CUSIP NUMBER: 077410108
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Robert A. Belfer Family 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 557,674
SHARES -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 557,674
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
557,674
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
<PAGE> 5
CUSIP NO. 077410108 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 5, 1996, AS AMENDED BY AMENDMENT NO.1 FILED ON BEHALF OF
THE FILING PERSONS WITH THE COMMISSION ON APRIL 29, 1996. THE TEXTS OF ITEMS 1,
2, 3, 4, AND 5 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 Laurence D. Belfer, LDB Corp., a Delaware
corporation ("LDB"), and the Robert A. Belfer Family Trust (the "Trust")
(collectively, the "Filing Persons").
The current mailing address for Laurence D. Belfer, LDB and the Trust
is 767 Fifth Avenue, 46th Floor, New York, New York 10153. Laurence D. Belfer is
President, Chief Operating Officer and a director of Belco. Laurence D. Belfer
is the sole executive officer and director of LDB and the sole trustee of the
Trust.
None of the Filing Persons have 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.
Laurence D. Belfer is a United States citizen.
<PAGE> 6
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Since the filing of the Schedule 13D, Laurence D. Belfer has acquired
options to purchase an additional (i) 20,000 shares of Common Stock at $22.1375
per share; (ii) 17,250 shares of Common Stock at $20.7625 per share; (iii) 2,750
shares of Common Stock at $18.875 per share; (iv) 32,000 shares of Common Stock
at $10.00 per share; and (v) 8,000 shares of Common Stock at $11.00 per share.
ITEM 4. PURPOSE OF TRANSACTION.
Since the filing of the initial statement on Schedule 13D, Laurence D.
Belfer has acquired options to purchase additional shares of Common Stock of the
Company. 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 shares of the 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. INTEREST IN SECURITIES OF ISSUER.
(a) (i) LAURENCE D. BELFER. Laurence D. Belfer currently owns
1,831,767 shares (5%) of Common Stock and options to purchase
an additional 140,000 shares (.4%) of Common Stock at prices
described above in Item 3. By virtue of being the sole
director and shareholder of LDB and the sole trustee of the
Trust, Laurence D. Belfer may de deemed to share voting and
dispositive powers with respect to those shares held by LDB
and the Trust and thus may be deemed to beneficially own such
shares.
(ii) LDB. LDB currently owns 272,855 shares (.7%) of Common Stock.
(iii) TRUST. The Trust currently owns 557,674 shares (1.5%) of
Common Stock.
<PAGE> 7
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 19, 1998
/s/ Laurence D. Belfer
------------------------------------
Laurence D. Belfer
LDB CORP., a Delaware corporation
By: /s/ Laurence D. Belfer
---------------------------------
Laurence D. Belfer, President
ROBERT A. BELFER FAMILY TRUST
By: /s/ Laurence D. Belfer
---------------------------------
Laurence D. Belfer, Trustee
<PAGE> 8
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----------------
AMENDMENT NO. 1 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)
Laurence D. 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 2,722,296 shares, which
constitutes 8.6 % 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.
<PAGE> 9
CUSIP NUMBER: 077410108
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Laurence D. 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 1,891,767
SHARES -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY 830,529
EACH -----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 1,891,767
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
830,529
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,722,296
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 10
CUSIP NUMBER: 077410108
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON LDB 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 272,855
SHARES -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 272,855
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
272,855
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.09%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
<PAGE> 11
CUSIP NUMBER: 077410108
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Robert A. Belfer Family 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 557,674
SHARES -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 557,674
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
557,674
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
<PAGE> 12
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.
Laurence D. Belfer, LDB Corp., a Delaware corporation ("LDB") and the
Robert A. Belfer Family Trust (the "Trust") 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.
ITEM 2. IDENTITY AND BACKGROUND.
The current mailing address for Laurence D. Belfer, LDB and the Trust
is 767 Fifth Avenue, 46th Floor, New York, New York 10153. Laurence D. Belfer is
Executive Vice President, Chief Operating Officer and Secretary and a director
of Belco. Laurence D. Belfer is the sole executive officer and director of LDB
and the sole trustee of the Trust.
Laurence D. Belfer, LDB and the Trust have not been convicted in a
criminal proceeding during the last five years. Laurence D. Belfer, LDB and the
Trust have not 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.
Laurence D. Belfer is a United States citizen.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The Common Stock held by Laurence D. Belfer, LDB and the Trust was
acquired in exchange for certain ownership interests in certain predecessor
entities of Belco and direct interests in oil and gas properties and certain
hedge transactions. Laurence D. Belfer, LDB and the Trust did not borrow any
funds to acquire the Common Stock.
<PAGE> 13
ITEM 4. PURPOSE OF TRANSACTION.
Belco was organized as a Nevada corporation in January 1996 in
connection with the combination (the "Combination") of the certain operations
and assets (the "Combined Assets"), pursuant to that certain Exchange and
Subscription Agreement and Plan of Reorganization dated as of January 1, 1996,
by and among Belco and the owner of the Combined Assets (the "Exchange
Agreement"). 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 family of Robert A. Belfer,
the father of Laurence D. Belfer, 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. The Combination was effected on March 29, 1996 with the
issuance of an aggregate of 25 million shares of Common Stock to the owners of
the Combined Assets in exchange for the Combined Assets.
Laurence D. Belfer, LDB and the Trust 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 Laurence D. Belfer may purchase shares of Common Stock
from time to time.
ITEM 5. INTEREST IN SECURITIES OF ISSUER.
(a) (i) LAURENCE D. BELFER. Laurence D. Belfer currently owns
1,831,767 shares (5.8%) of Common Stock and an option to
purchase an additional 60,000 shares (.2%) of Common Stock at
a price of $19.00 per share. By virtue of being the sole
director and shareholder of LDB and the sole trustee of the
Trust, Laurence D. Belfer may de deemed to share voting and
dispositive powers with respect to those shares held by LDB
and the Trust and thus may be deemed to beneficially own such
shares.
(ii) LDB. LDB currently owns 272,855 shares (.9%) of Common Stock.
(iii) TRUST. The Trust currently owns 557,674 shares (1.8%) of
Common Stock.
(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 proceeds
from the sale of, such securities.
(e) Not applicable.
<PAGE> 14
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. Laurence D. Belfer, LDB and the Trusts may
be deemed to be a group for purposes of this Schedule 13D.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit A - Exchange and Subscription Agreement and Plan of
Reorganization.
<PAGE> 15
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: April 29, 1996
/s/ Laurence D. Belfer
-----------------------------------
Laurence D. Belfer
LDB CORP., a Delaware corporation
By: /s/ Laurence D. Belfer
--------------------------------
Laurence D. Belfer, President
ROBERT A. BELFER FAMILY TRUST
By: /s/ Laurence D. Belfer
--------------------------------
Laurence D. Belfer, Trustee
<PAGE> 16
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)
Laurence D. 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 2,740,296 shares, which
constitutes 8.7 % 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> 17
CUSIP NUMBER: 077410108
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Laurence D. 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 1,881,767
SHARES -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY 830,529
EACH -----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 1,881,767
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
830,529
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,740,296
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 18
CUSIP NUMBER: 077410108
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON LDB 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 272,855
SHARES -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 272,855
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
272,855
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.09%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
<PAGE> 19
CUSIP NUMBER: 077410108
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Robert A. Belfer Family 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 557,674
SHARES -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY
EACH -----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH: 557,674
-----------------------------------------------------
10 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
557,674
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.8%
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14 TYPE OF REPORTING PERSON
OO
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<PAGE> 20
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.
Laurence D. Belfer, LDB Corp., a Delaware corporation ("LDB") and the
Robert A. Belfer Family Trust (the "Trust") 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.
ITEM 2. IDENTITY AND BACKGROUND.
The current mailing address for Laurence D. Belfer, LDB and the Trust
is 767 Fifth Avenue, 46th Floor, New York, New York 10153. Laurence D. Belfer is
Executive Vice President, Chief Operating Officer and Secretary and a director
of Belco. Laurence D. Belfer is the sole executive officer and director of LDB
and the sole trustee of the Trust.
Laurence D. Belfer, LDB and the Trust have not been convicted in a
criminal proceeding during the last five years. Laurence D. Belfer, LDB and the
Trust have not 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.
Laurence D. Belfer is a United States citizen.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The Common Stock held by Laurence D. Belfer, LDB and the Trust was
acquired in exchange for certain ownership interests in certain predecessor
entities of Belco and direct interests in oil and gas properties and certain
hedge transactions. Laurence D. Belfer, LDB and the Trust did not borrow any
funds to acquire the Common Stock.
<PAGE> 21
ITEM 4. PURPOSE OF TRANSACTION.
Belco was organized as a Nevada corporation in January 1996 in
connection with the combination (the "Combination") of the certain operations
and assets (the "Combined Assets"), pursuant to that certain Exchange and
Subscription Agreement and Plan of Reorganization dated as of January 1, 1996,
by and among Belco and the owner of the Combined Assets (the "Exchange
Agreement"). 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 family of Robert A. Belfer,
the father of Laurence D. Belfer, 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. The Combination was effected on March 29, 1996 with the
issuance of an aggregate of 25 million shares of Common Stock to the owners of
the Combined Assets in exchange for the Combined Assets.
Laurence D. Belfer, LDB and the Trust 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 Laurence D. Belfer may purchase shares of Common Stock
from time to time.
ITEM 5. INTEREST IN SECURITIES OF ISSUER.
(a) (i) LAURENCE D. BELFER. Laurence D. Belfer currently owns
1,821,767 shares (5.8%) of Common Stock and an option to
purchase an additional 60,000 shares (.2%) of Common Stock at
a price of $19.00 per share. By virtue of being the sole
director and shareholder of LDB and the sole trustee of the
Trust, Laurence D. Belfer may de deemed to share voting and
dispositive powers with respect to those shares held by LDB
and the Trust and thus may be deemed to beneficially own such
shares.
(ii) LDB. LDB currently owns 272,855 shares (.9%) of Common Stock.
(iii) TRUST. The Trust currently owns 557,674 shares (1.8%) of
Common Stock.
(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 proceeds
from the sale of, such securities.
(e) Not applicable.
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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. Laurence D. Belfer, LDB and the Trusts may
be deemed to be a group for purposes of this Schedule 13D.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit A - Exchange and Subscription Agreement and Plan of
Reorganization.
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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: April 5, 1996
/s/ Laurence D. Belfer
-----------------------------------
Laurence D. Belfer
LDB CORP., a Delaware corporation
By: /s/ Laurence D. Belfer
--------------------------------
Laurence D. Belfer, President
ROBERT A. BELFER FAMILY TRUST
By: /s/ Laurence D. Belfer
--------------------------------
Laurence D. Belfer, Trustee
