SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
BAYARD DRILLING TECHNOLOGIES, INC.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
072700-10-7
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(CUSIP Number)
*The remainder of this cover page should 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).
CUSIP No. 072700-10-7 13G
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
DLB Oil & Gas, Inc.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ X ]
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
1601 Northwest Expressway, Suite 700, Oklahoma City, Oklahoma 73118
NUMBER OF 5 SOLE VOTING POWER 2,955,000 shares
SHARES
BENEFICIALLY 6 SHARED VOTING POWER 0 shares
OWNED BY
EACH 7 SOLE DISPOSITIVE POWER 2,955,000 shares
REPORTING
PERSON WITH 8 SHARED DISPOSITIVE POWER 0 shares
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,955,000 shares
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ X ]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
16.3%
12 TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTIONS BEFORE FILLING OUT
STATEMENT ON SCHEDULE 13G
This statement on Schedule 13G relates to the common stock, par value
$.01 per share ("Common Stock"), of Bayard Drilling Technologies, Inc., a
Delaware corporation (the "Company"), and is filed by DLB Oil & Gas, Inc.
("DLB"). DLB holds indirectly through its wholly-owned subsidiary, Bonray
Holding LLC, (as to 2,955,000 shares) the shares of Common Stock reported
as beneficially owned in this statement.
ITEM 1(A) NAME OF ISSUER.
The name of the issuer is Bayard Drilling Technologies, Inc.
ITEM 1(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES.
The address of the principal executive office of the issuer is
4005 Northwest Expressway, Suite 550E, Oklahoma City, Oklahoma
73116.
ITEM 2(A) NAME OF PERSON FILING.
This Schedule 13G is filed by DLB Oil & Gas, Inc.
ITEM 2(B) ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR, IF NONE,
RESIDENCE.
The address of the principal business office of DLB, is 1601
Northwest Expressway, Suite 700, Oklahoma City, Oklahoma
73118.
ITEM 2(C) CITIZENSHIP OR PLACE OF ORGANIZATION.
DLB is incorporated under the laws of Oklahoma.
ITEM 2(D) TITLE OF CLASS OF SECURITIES.
The class of securities to which this statement relates is the
Common Stock, par value $.01 per share, of the Company.
ITEM 2(E) CUSIP NUMBER.
The CUSIP number for the Common Stock is 072700-10-7.
ITEM 3 REPORTING PERSON.
This item is inapplicable.
ITEM 4 OWNERSHIP.
See Items 5 through 11 on page 2 for DLB.
ITEM 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
This item is inapplicable.
ITEM 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF
ANOTHER PERSON.
This item is inapplicable.
ITEM 7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY
WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE
PARENT HOLDING COMPANY.
This item is inapplicable.
ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE
GROUP.
DLB is a party to the Second Amended and Restated Stockholders
and Voting Agreement (the "Stockholders' Agreement"), dated as
of October 16, 1997, by and among the Company, AnSon Partners
Limited Partnership, Energy Spectrum Partners LP, and DLB, as
amended, which agreement is filed as EXHIBIT 1 hereto.
Under the terms of the Stockholders' Agreement, the parties
have agreed (i) the Board of Directors shall consist of no
more than ten members, (ii) Energy Spectrum shall have the
right to designate one nominee for director as long as it owns
at least (a) 5% of the outstanding Common Stock of the
Company, (b) 50% in principal amount of the Subordinated Notes
purchased in the May Financing or (c) 600,000 shares of Common
Stock, (iii) Anadarko shall have the right to designate one
nominee for director as long as it owns at least (a) 5% of the
outstanding Common Stock of the Company or (b) 600,000 shares
of Common Stock, and (iv) DLB shall have the right to
designate one nominee for director as long as it owns at least
5% of the outstanding Common Stock of the Company.
The parties to the Stockholders' Agreement are obligated to
vote all of their voting securities (including certain Common
Stock Equivalents) of the Company for these designees. The
parties to the Stockholders' Agreement in the aggregate own
approximately 29.3% of the outstanding shares of the Common
Stock.
DLB disclaims beneficial ownership of the shares of Common
Stock held by any other party to the Stockholders' Agreement.
ITEM 9 NOTICE OF DISSOLUTION OF GROUP.
This item is inapplicable.
ITEM 10 CERTIFICATION.
This item is inapplicable.
EXHIBITS EXHIBIT 1
Stockholders' Agreement, dated as of October 16, 1997, by and
among the Company, AnSon Partners Limited Partnership, Energy
Spectrum Partners LP and DLB Oil & Gas, Inc., (incorporated by
reference to Exhibit 9.1 to the Company's Registration
Statement on Form S-1 (Registration No. 333-34451)). First
Amendment to the Stockholders' Agreement, dated as of November
4, 1997, by and among the Company, AnSon Partners Limited
Partnership, Energy Spectrum Partners LP and DLB Oil & Gas,
Inc., (incorporated by reference to Exhibit 9.2 to the
Company's Registration Statement on Form S-1 (Registration No.
333-34451)).
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: February 13, 1998
DLB OIL & GAS, INC.
By: /s/ RICK A. CARLSON
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Rick A. Carlson
Vice President of Exploration
