<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Amendment No. 1)*
UNDER THE SECURITIES EXCHANGE ACT OF 1934
UTI ENERGY CORP.
----------------
(Name of Issuer)
COMMON STOCK
------------
(Title of Class of Securities)
903387 10 8
(CUSIP Number)
GARY J. COHEN, ESQ.
SIDLEY & AUSTIN
555 WEST FIFTH STREET
LOS ANGELES, CALIFORNIA 90013-1010
(213) 896-6013
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
October 6, 1997
----------------
(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 [_].
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
Note: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom
copies are to be sent.
(Continued on following pages)
<PAGE>
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CUSIP NO. 903387 10 8 13D PAGE 2 OF 9 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSONS
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
CANPARTNERS INVESTMENTS IV, LLC.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
AF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
5
[_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
CALIFORNIA
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 480,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 480,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
480,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
13
3.6%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
OO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 903387 10 8 13D PAGE 3 OF 9 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSONS
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
CANPARTNERS INCORPORATED
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
AF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
5
[_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
CALIFORNIA
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 480,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 480,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
480,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
13
3.6%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 903387 10 8 13D PAGE 4 OF 9 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSONS
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
JOSHUA S. FRIEDMAN
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
AF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
5
[_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
USA
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 480,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 480,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
480,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
13
3.6%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 903387 10 8 13D PAGE 5 OF 9 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSONS
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
MITCHELL R. JULIS
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
AF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
5
[_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
USA
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 480,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 480,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
480,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
13
3.6%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 903387 10 8 13D PAGE 6 OF 9 PAGES
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- ------------------------------------------------------------------------------
NAME OF REPORTING PERSONS
1 S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
R. CHRISTIAN B EVENSEN
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
AF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
5
[_]
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
USA
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 480,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 480,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
480,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
13
3.6%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
This Amendment No.1 ("Amendment") relates to the Statement on Schedule 13D
dated April 11, 1997 ("Schedule"), filed with the Securities and Exchange
Commission on behalf of Canpartners Investments IV, LLC, a California limited
liability company ("Canpartners IV"), Canpartners Incorporated, a California
corporation ("Canpartners") and Messrs. Julis, Evensen, and Friedman (they,
together with Canpartners IV and Canpartners, being the "Reporting Persons"),
with respect to the common stock, par value $0.01 per share ("Common Stock"), of
UTI Energy Corp., a Delaware corporation ("UTI").
Item 3 is hereby amended to read in its entirety as follows:
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
On September 5, 1997, UTI effected a three-for-one stock split, thereby
increasing the number of Warrants (as defined in Item 4) held by Reporting
Persons to purchase shares of Common Stock from 400,000 to 1,200,000 and
correspondingly decreasing the exercise price from $32.50 per share to
approximately $10.83 per share. The Reporting Persons exercised their right to
purchase 720,000 shares (out of 1,200,000 total) of Common Stock for an
aggregate net consideration of approximately $7,797,600 and immediately sold the
shares of Common Stock in conjunction with a public offering and sale of
5,915,500 shares of UTI Common Stock at a net price of $37.72 per share or an
aggregate amount of $27,158,400, which transaction closed on October 6, 1997.
Reporting Persons still retain the right to exercise the remaining 480,000
Warrants.
Item 4 is hereby amended in its entirety to read as follows:
ITEM 4. PURPOSE OF TRANSACTION
The shares of Common Stock were purchased and sold for investment purposes
only The Common Stock was purchased by exercising Warrants obtained pursuant to
a warrant agreement dated as of April 11, 1997 ("Warrants"), a representative
copy of which was attached as Exhibit C to the Schedule.
Item 5 is hereby amended in its entirety to read as follows:
ITEM 5. INTEREST IN SECURITIES OF ISSUER
(a) As of the date hereof, each of the Reporting Persons, acting as a group
within the meaning of Section 13(d)(3) of the Act, was the beneficial owner of
an aggregate of 480,000 shares (including the remaining 480,000 shares of Common
Stock which the Reporting Persons have the right to acquire upon exercise of the
Warrants) of Common Stock of UTI, which constituted approximately 3.6% of the
13,436,515 shares of Common Stock outstanding as of September 12, 1997 (as
reported in the Registration Statement on Form S-3 UTI filed on September 8,
1997), after including the shares which the Reporting Persons have the right to
acquire upon exercise of the Warrants.
Page 7 of 9 Pages
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(b) With respect to the 480,000 shares of Common Stock underlying the
Warrants acquired by Canpartners IV, Canpartners IV exercises both voting and
dispositive power and since Canpartners IV is controlled by Canpartners,
Canpartners exercises both voting and dispositive power with respect to such
shares. Canpartners is, in turn, controlled by Messrs. Evensen, Friedman and
Julis and each of these Reporting Persons therefore exercises both voting and
dispositive power with respect to the shares of Common Stock acquired by
Canpartners IV. Each of the Reporting Persons who is an individual exercises
both voting and dispositive power over the shares of Common Stock acquired by
them. Except as set forth in this Item 5(b), none of the Reporting Persons has
voting or dispositive power over another Reporting Person's shares of Common
Stock.
(c) Item 3 above sets forth the aggregate purchase price of the 720,000
shares of Common Stock, the aggregate sale price for which each Reporting Person
sold the shares of Common Stock immediately following the exercise of the
warrants, and the number of warrants outstanding. All of the transactions
reflected in Item 3 above were effectuated on October 6, 1997. None of the
Reporting Persons have effected any other transaction in the Common Stock in the
past 60 days.
(d) No persons other than the Reporting Persons, each with respect to the
shares of Common Stock which they have the right to acquire upon exercise of the
Warrants, have the right to receive or power to direct the receipt of dividends
from, or the proceeds from the sale of, the shares of Common Stock.
(e) On October 6, 1997, the Reporting Persons ceased to be the beneficial
owners of more than five percent of the Common Stock of UTI.
Page 8 of 9 Pages
<PAGE>
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.
CANPARTNERS INVESTMENTS IV, LLC
By: Canpartners Incorporated,
An Authorized Member
By: /s/ R. Christian B. Evensen
---------------------------------------
R. Christian B. Evensen, President
CANPARTNERS INCORPORATED
By: /s/ R. Christian B. Evensen
---------------------------------------
R. Christian B. Evensen, President
Individually,
/s/ Mitchell R. Julis
---------------------------------------------
Mitchell R. Julis
/s/ Joshua S. Friedman
---------------------------------------------
Joshua S. Friedman
/s/ R. Christian B. Evensen
---------------------------------------------
R. Christian B. Evensen
Page 9 of 9 Pages
