SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
Kelley Oil & Gas Corporation
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(Name of Issuer)
Common Stock, Par Value $0.01 Per Share
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(Title of Class of Securities)
487906 10 9
-----------------------------------------------------
(CUSIP Number)
John F. Bookout Richard Hall
Kelley Oil & Gas Corporation Cravath, Swaine & Moore
601 Jefferson Street, Suite 1100 825 Eighth Avenue
Houston, Texas 77002 New York, New York 10019
(713) 652-5200 (212) 474-1000
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(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
March 29, 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 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. [ ] (A
fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent
of the class of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership of five percent
or less of such class.) (See Rule 13d-7.)
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.
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).
(Continued on following page(s))
Page 1 of 8
<PAGE>
SCHEDULE 13D
CUSIP No. 487906 10 9
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Contour Production Company L.L.C.
I.R.S. NO.: 76-0496126
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 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 72,144,048
BENEFICIALLY -------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH -0-
REPORTING -------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 72,144,048
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
72,144,048
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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)
57.4%**
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14 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
**SEE DESCRIPTION PRESENTED UNDER THE CAPTION
"ITEM 5. INTEREST IN SECURITIES OF THE ISUER"
Page 2 of 8
<PAGE>
SCHEDULE 13D
CUSIP No. 487906 10 9
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Bessemer Holdings, L.P.
I.R.S. No. 22-3257975
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 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 -0-
BENEFICIALLY -------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 72,144,048
REPORTING -------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
72,144,048
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
72,144,048
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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)
57.4%**
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
**SEE DESCRIPTION PRESENTED UNDER THE CAPTION
"ITEM 5. INTEREST IN SECURITIES OF THE ISUER"
Page 3 of 8
<PAGE>
SCHEDULE 13D
CUSIP No. 487906 10 9
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JFB Squared, Ltd.
I.R.S. No. 76-0412765
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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NUMBER OF 7 SOLE VOTING POWER
SHARES 2,855,952
BENEFICIALLY -------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH -0-
REPORTING -------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 2,855,952
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,855,052
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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)
2.3%**
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
**SEE DESCRIPTION PRESENTED UNDER THE CAPTION
"ITEM 5. INTEREST IN SECURITIES OF THE ISUER"
Page 4 of 8
<PAGE>
SCHEDULE 13D
CUSIP No. 487906 10 9
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Bevairohn, Ltd.
I.R.S. No. 76-0415687
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY -------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 72,144,048
REPORTING -------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
72,144,048
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
72,144,048
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
57.4%**
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
**SEE DESCRIPTION PRESENTED UNDER THE CAPTION
"ITEM 5. INTEREST IN SECURITIES OF THE ISUER"
#The consent of Bevairohn is required for the disposition, under certain
circumstances, of the Common Stock.
Page 5 of 8
<PAGE>
Kelley Oil & Gas Corporation
Amendment No. 4 to
Schedule 13D
This Amendment No. 4 hereby amends and supplements the Statement
on Schedule 13D dated January 23, 1996, as amended by Amendment No. 1 dated
February 15, 1996, Amendment No. 2 dated April 26, 1996 and Amendment No. 3
dated December 1, 1997 (as amended, the "Statement"), relating to the
common stock, par value $0.01 per share ("Common Stock"), of Kelley Oil &
Gas Corporation, a Delaware corporation ("Kelley").
Item 2. Identity and Background.
The first and second paragraphs of Sections (a), (b), (c) and (f)
of Item 2 are amended and supplemented in their entirety to read as
follows:
(a), (b), (c) and (f). This Statement is filed on behalf of
Contour Production Company L.L.C., a Delaware limited liability company
("Contour"), JFB Squared, Ltd., a Texas limited partnership ("JFB"), and
Bevairohn, Ltd., a Texas limited partnership ("Bevairohn"), pursuant to
Rule 13d-1(f) under the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), and Bessemer Holdings, L.P., a Delaware limited
partnership ("BH"). Contour, BH and Bevairohn are hereinafter collectively
referred to as the "Reporting Persons".
Contour has its principal office at 630 Fifth Avenue, New York,
New York 10111. Contour's activities consist principally of investing in
Kelley, which activities are principally conducted at its 630 Fifth Avenue
office. BH owns a majority of the outstanding membership interests of
Contour. BH has its principal office at 630 Fifth Avenue, New York, New
York 10111. BH's only activity is making investments in securities for its
own account, which activity is principally conducted at its 630 Fifth
Avenue office. Under the constitutive documents of Contour, as described in
Item 5, Bevairohn may be deemed to share the power to direct the vote of
the Common Stock beneficially owned by Contour. JFB's and Bevairohn's
principal office is located at 910 Louisiana Street, Suite 5050, Houston,
Texas 77002. Bevairohn's activities consist principally on investing in
Contour. JFB's activities consist principally of investing in Kelley. John
F. Bookout, who is the Chairman of the Board of Directors, President and
Chief Executive Officer of Kelley, is general partner of JFB and Bevairohn.
Each of Mr. Bookout, together with wife, Carolyn Bookout, and John F.
Bookout III hold a 1% general partnership interest and a 49% limited
partnership interest in JFB. Mr. Bookout, together with wife, holds a 3%
general partnership interest in Bevairohn. The limited partners of
Bevairohn consist of Mr. Bookout, his wife, Mr. Bookout III and three
trusts established for members of Mr. Bookout's family.
Item 4. Purpose of Transaction.
The last paragraph of Section (a) of Item 4 is amended and
supplemented in its entirety to read as follows:
The continuing decline in the market price of the Common Stock is
having several detrimental effects on Kelley, including limiting its
financing alternatives and impairing its ability to continue listing the
Common Stock on The Nasdaq Stock
Page 6 of 8
<PAGE>
Market. In response, the Reporting Persons are considering a variety of
plans and proposals with respect to the equity securities of Kelley,
including, among others, investigating the purchase of shares of Common
Stock or other equity securities of Kelley by the Reporting Persons or
their affiliates. The Reporting Persons intend continuously to review all
aspects of their investment in Kelley, including the market price of the
Common Stock, Kelley's business operations, financial results and condition
and prospects, conditions in the securities markets generally and general
economic and industry conditions. The Reporting Persons reserve the right,
based on their continuing review of these and other relevant factors, (i)
to acquire shares of Common Stock or other equity securities of Kelley in
the open market, in privately negotiated transactions, directly from Kelley
or otherwise, or (ii) to dispose of shares of Common Stock in the open
market, in privately negotiated transactions or otherwise, or (iii)
otherwise to change their intention with respect to any or all of the
matters referred to in this Item 4.
Item 5. Interest in Securities of the Issuer.
Item 5 is amended and supplemented in its entirety to read as
follows:
On March 29, 1999, pursuant to certain changes in the
constitutive documents of Contour, all the membership interests of JFB in
Contour were redeemed in exchange for 2,855,952 shares of Common Stock,
which represented a proportionate amount of the 75,000,000 shares of Common
Stock previously held by Contour. By reason of the redemption of its
interests in Contour, JFB no longer has any voting or dispositive power
over Common Stock held by Contour.
Page 7 of 8
<PAGE>
Signatures
After reasonable inquiry and to the best of his knowledge and
belief, each of the undersigned certifies that the information set forth in
this Statement is true, complete and correct.
Date: March 29, 1999
CONTOUR PRODUCTION COMPANY L.L.C.,
by: /s/ John F. Bookout
--------------------------------
Name: John F. Bookout
Title: Authorized Signatory
JFB SQUARED, LTD.,
by: /s/ John F. Bookout
--------------------------------
Name: John F. Bookout
Title: General Partner
BEVAIROHN, LTD.,
by: /s/ John F. Bookout
--------------------------------
Name: John F. Bookout
Title: General Partner
BESSEMER HOLDINGS, L.P.,
by: Kylix Holdings, L.L.C., its
general partner,
by: North Hailey Corporation,
a principal manager,
by: /s/ Ward W. Woods
----------------------------
Name: Ward W. Woods
Title: President
Page 8 of 8
