-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RH3mf2EvdsH9mR8pdTuYstY3h5l9oMQaKU27W0YoC+8ErGwvGCsesl5rd0VF1E3V utV0Bl02ANXyztbjPY4mfQ== 0000950129-98-002619.txt : 19980622 0000950129-98-002619.hdr.sgml : 19980622 ACCESSION NUMBER: 0000950129-98-002619 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980619 SROS: NONE GROUP MEMBERS: BELFER LAURENCE D GROUP MEMBERS: LDB CORP GROUP MEMBERS: ROBERT A. BELFER FAMILY TRUST SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BELCO OIL & GAS CORP CENTRAL INDEX KEY: 0000889005 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 133869719 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-54201 FILM NUMBER: 98650827 BUSINESS ADDRESS: STREET 1: 767 FIFTH AVE STREET 2: 46TH FL CITY: NEW YORK STATE: NY ZIP: 10153 BUSINESS PHONE: 2126442200 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BELFER LAURENCE D CENTRAL INDEX KEY: 0001011817 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 767 5TH AVENUE STREET 2: 46TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10153 BUSINESS PHONE: 2126442200 MAIL ADDRESS: STREET 1: 767 FIFTH AVE STREET 2: 46TH FL CITY: NEW YORK STATE: NY ZIP: 10153 SC 13D/A 1 LAURENCE D. BLEFER FOR BELCO OIL & GAS CORP. 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. 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 - -------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------- 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. 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. 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 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. 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 - -------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------- 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. 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. 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. 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 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. 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 - -------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------- 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% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- 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. 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. 22 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. 23 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 -----END PRIVACY-ENHANCED MESSAGE-----