<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
Willbros Group, Inc.
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(Name of Issuer)
Common Stock, par value $.05 per share
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(Title of Class of Securities)
969199108
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(CUSIP Number)
Yorktown Partners LLC
410 Park Avenue, New York, NY 10022
(212) 515-2100
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 7, 1999
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(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 that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box / /.
Note: Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See
rule 13-7(b) for other parties to whom copies are to be sent.
(Continued on the following pages)
(Page 1 of 8 Pages)
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SCHEDULE 13D
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CUSIP NO. 969199108 Page 2 of 8 Pages
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I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Yorktown Partners LLC
13-3958089
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /x/
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 1,051,000
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BENEFICIALLY
OWNED BY EACH 8 SHARED VOTING POWER
REPORTING 0
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PERSON 9 SOLE DISPOSITIVE POWER
WITH 1,051,000
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10 SHARED DISPOSITIVE POWER
0
------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,051,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.1%
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14 TYPE OF REPORTING PERSON *
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
SCHEDULE 13D
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CUSIP NO. 969199108 Page 3 of 8 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Yorktown Energy Partners III, L.P.
13-3960615
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /x/
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 1,051,000
-------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH -------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
1,051,000
PERSON -------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,051,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.1%
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14 TYPE OF REPORTING PERSON *
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 4
SCHEDULE 13D
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CUSIP NO. 969199108 Page 4 OF 8 PAGES
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Yorktown III Company LLC
13-3958088
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) /x/
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 1,051,000
-------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH -------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
1,051,000
PERSON -------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,051,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.1%
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14 TYPE OF REPORTING PERSON *
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 5
SCHEDULE 13D
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CUSIP NO. 969199108 Page 5 of 8 Pages
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ITEM 1. SECURITY AND ISSUER.
This Schedule 13D dated May 7, 1999 ("Schedule 13D") is filed with the
Securities and Exchange Commission by Yorktown Partners LLC, a Delaware limited
liability company, and certain of its affiliates. This filing of Schedule 13D is
not, and should not be deemed to be, an admission that the Schedule 13D or any
amendment thereto is required to be filed.
The securities to which this Schedule 13D relates is the common stock,
par value $.05 per share (the "Shares"), of Willbros Group, Inc., a corporation
incorporated under the laws of the Republic of Panama (the "Issuer"). The
principal executive offices of the Issuer are located at Dresdner Bank Building,
50th Street, 8th Floor, P.O. Box 850048, Panama 5, Republic of Panama.
ITEM 2. IDENTITY AND BACKGROUND.
This Schedule 13D is being filed jointly by Yorktown Partners LLC, a
Delaware limited liability company ("Yorktown"), Yorktown Energy Partners III,
L.P., a Delaware limited partnership ("Partnership III"), and Yorktown III
Company LLC, a Delaware limited liability company ("GP III"). GP III is the
general partner of Partnership III, and Yorktown is the investment manager of
Partnership III. Each of Partnership III and GP III are referred to herein
individually as a "Yorktown Affiliate," and collectively as the "Yorktown
Affiliates."
The principal business of Partnership III is investing in investment
securities of energy companies. The principal business of GP III is serving as
the general partner of Partnership III. The principal business of Yorktown is
serving as investment manager of Partnership III and certain other entities. The
principal office of Yorktown and each of the Yorktown Affiliates is 410 Park
Avenue, New York, NY 10022.
The controlling members and executive officers of Yorktown and each of
the Yorktown Affiliates are Messrs. Bryan H. Lawrence, W. Howard Keenan, Jr.,
Peter A. Leidel and Thomas R. LaCosta. Each of such persons is a United States
citizen, and the present principal occupation or employment of each such person
is as a principal of Yorktown Partners LLC. The business address of each of
Messrs. Lawrence, Keenan, Leidel and LaCosta is 410 Park Avenue, New York, NY
10022.
Within the past five years, none of Yorktown or the Yorktown
Affiliates, or to the best knowledge of Yorktown and the Yorktown Affiliates, no
other person named in this Item 2 has been convicted in any criminal proceeding
(excluding traffic violations or similar misdemeanors) or has been a party to
any civil proceeding and as a result thereof was or is subject to any judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to federal or state securities laws or finding any
violations with respect to such laws.
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SCHEDULE 13D
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CUSIP NO. 969199108 Page 6 of 8 Pages
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ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
All of the 1,051,000 Shares reported herein were acquired for cash in
the aggregate amount of approximately $6,095,800, inclusive of brokerage
commissions. The source of such funds was the contributed capital of Partnership
III.
ITEM 4. PURPOSE OF TRANSACTION.
The Shares were purchased to acquire an equity interest in the Issuer
in pursuit of specified investment objectives of Partnership III. Yorktown and
the Yorktown Affiliates may continue to have Partnership III purchase Shares
subject to a number of factors, including, among others, the availability of
Shares for sale at a price that they consider to be attractive and other
investment opportunities that may be available to Partnership III.
None of Yorktown or the Yorktown Affiliates has any present plan or
proposal which relates to or would result in: (i) any extraordinary corporate
transaction such as a merger, reorganization, liquidation, or sale or transfer
of a material amount of assets of or involving the Issuer or any of its
subsidiaries, (ii) any change in the Issuer's present Board of Directors or
management, (iii) any material change in the Issuer's present capitalization or
dividend policy, (iv) any other material change in the Issuer's business or
corporate structure, (v) any change in the Issuer's charter or bylaws, (vi) the
Issuer to be delisted from a national securities exchange or the issuer to
become eligible for termination of registration pursuant to Section 12(g)(4) of
the Securities Exchange Act of 1934, as amended, or (viii) any similar action.
Peter A. Leidel, a principal of Yorktown and the Yorktown Affiliates,
is a member of the Board of Directors of the Issuer.
ITEM 5. INTEREST IN SECURITIES OF ISSUER.
(a) Partnership III owns, and GP III and Yorktown beneficially own as
general partner and investment manager, respectively, of Partnership III,
1,051,000 Shares, or approximately 8.1% of the outstanding Shares of the Issuer.
Mr. Lawrence beneficially owns 18,618 Shares; Mr. Keenan
beneficially owns 10,653 Shares; Mr. Leidel beneficially owns 4,000 Shares; and
Mr. LaCosta beneficially owns 2,200 Shares. Each such person beneficially owns
less than one percent of the outstanding Shares.
(b) Each of the aforementioned entities and persons has sole power to
vote and to dispose of the Shares so indicated above.
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SCHEDULE 13D
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CUSIP NO. 969199108 Page 7 of 8 Pages
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(c) In the past 60 days, Partnership III has made the following purchases
of Shares. All such purchases were made for cash in open market transactions.
<TABLE>
<CAPTION>
Date Number of Shares Purchased Aggregate Price
- ---- -------------------------- ---------------
<S> <C> <C>
April 14, 1999 51,000 $ 295,800
May 6, 1999 500,000 $3,025,000
May 7, 1999 250,000 $1,387,500
May 11, 1999 250,000 $1,387,500
</TABLE>
(d) Except as set forth in this Schedule 13D, to the best knowledge of
Yorktown and the Yorktown Affiliates, none of Yorktown, the Yorktown Affiliates
or any other person has the right to receive or the power to direct the receipt
of dividends from, or the proceeds from the sale of, the Shares reported herein.
(e) Not applicable
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
None
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
1. Joint Filing Agreement, dated as of May 17, 1999, among
Yorktown Partners LLC, Yorktown Energy Partners III, L.P. and
Yorktown III Company LLC relating to the filing of a joint
statement on Schedule 13D.
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SCHEDULE 13D
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CUSIP NO. 969199108 Page 8 of 8 Pages
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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.
YORKTOWN PARTNERS LLC
Date: May 17, 1999 By: /s/ Peter A. Leidel
-----------------------------
Name: Peter A. Leidel
Title: Member
YORKTOWN ENERGY PARTNERS III, L.P.
By: Yorktown III Company LLC
Its: General Partner
Date: May 17, 1999 By: /s/ Peter A. Leidel
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Name: Peter A. Leidel
Title: Member
YORKTOWN III COMPANY LLC
Date: May 17, 1999 By: /s/ Peter A. Leidel
-----------------------------
Name: Peter A. Leidel
Title: Member
<PAGE> 9
EXHIBIT INDEX
1. Joint Filing Agreement, dated as of May 17, 1999, among
Yorktown Partners LLC, Yorktown Energy Partners III, L.P. and
Yorktown III Company LLC relating to the filing
of a joint statement on Schedule 13D.
<PAGE> 1
Exhibit 1
JOINT FILING AGREEMENT
We, the signatories of the statement on Schedule 13D to which this
Agreement is attached, hereby agree as of May 17, 1999 that such statement is,
and any amendments thereto filed by any of us will be, filed on behalf of each
of us pursuant to and in accordance with the provisions of Rule 13d-1(k) of the
Securities Exchange Act of 1934, as amended.
YORKTOWN PARTNERS LLC
By: /s/ Peter A. Leidel
------------------------------
Name: Peter A. Leidel
Title: Member
YORKTOWN ENERGY PARTNERS III, L.P.
By: Yorktown III Company LLC
Its: General Partner
By: /s/ Peter A. Leidel
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Name: Peter A. Leidel
Title: Member
YORKTOWN III COMPANY LLC
By: /s/ Peter A. Leidel
------------------------------
Name: Peter A. Leidel
Title: Member
