1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
(Amendment No. 2)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
National-Oilwell, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
637071 10 1
- --------------------------------------------------------------------------------
(CUSIP Number)
Thomas R. Denison, First Reserve Corporation, 1801 California Suite 4110,
Denver, CO 80202, (303) 382-1270
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
12/31/98
- --------------------------------------------------------------------------------
(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(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 13d-7(b) 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).
2
SCHEDULE 13D
CUSIP NO. 637071 10 1 PAGE 2 OF 19 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First Reserve Fund V, Limited Partnership
I.R.S. No.: 06-1295657
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX 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
SHARES
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 334,830
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
334,830
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
334,830
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
3
SCHEDULE 13D
CUSIP NO. 637071 10 1 PAGE 3 OF 19 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First Reserve Fund V-2, Limited Partnership
I.R.S. No.: 06-6351960
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX 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
SHARES
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 334,830
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
334,830
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
334,830
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
4
SCHEDULE 13D
CUSIP NO. 637071 10 1 PAGE 4 OF 19 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First Reserve Fund VI, Limited Partnership
I.R.S. No.: 06-1334650
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX 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
SHARES
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 7,700,834
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
7,700,834
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,700,834
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
5
SCHEDULE 13D
CUSIP NO. 637071 10 1 PAGE 5 OF 19 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First Reserve Fund VII, Limited Partnership
I.R.S. No.: 06-1457408
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX 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
SHARES
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 1,548,600
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,548,600
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,548,600
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
6
SCHEDULE 13D
CUSIP NO. 637071 10 1 PAGE 6 OF 19 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First Reserve Fund VIII, LP
I.R.S. No.: 06-1507364
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX 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
SHARES
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 1,593,300
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,593,300
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,593,300
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
7
SCHEDULE 13D
CUSIP NO. 637071 10 1 PAGE 7 OF 19 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First Reserve GP VII, LP
I.R.S. No.: 06-1520256
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX 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
SHARES
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 1,548,600
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,548,600
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,548,600
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
8
SCHEDULE 13D
CUSIP NO. 637071 10 1 PAGE 8 OF 19 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First Reserve GP VIII, LP
I.R.S. No.: 06-1507318
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX 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
SHARES
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 1,593,300
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,593,300
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,593,300
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
9
SCHEDULE 13D
CUSIP NO. 637071 10 1 PAGE 9 OF 19 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First Reserve Corporation
I.R.S. No.: 06-1210123
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX 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
SHARES
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 11,512,394
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
11,512,394
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,512,394
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
10
SCHEDULE 13D
CUSIP NO. 637071 10 1 PAGE 10 OF 19 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
William E. Macaulay
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 1,333
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 11,512,394
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
1,333
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
11,512,394
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,513,727
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
11
SCHEDULE 13D
CUSIP NO. 637071 10 1 PAGE 11 OF 19 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John A. Hill
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY -----------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 11,512,394
PERSON -----------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
11,512,394
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,512,394
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
12
This Amendment No. 2 to the statement on Schedule 13D filed on
September 28, 1998, by First Reserve Fund V, Limited Partnership ("Fund V"),
First Reserve Fund V-2, Limited Partnership ("Fund V-2"), First Reserve Fund VI,
Limited Partnership ("Fund VI"), First Reserve Fund VII, Limited Partnership
("Fund VII"), First Reserve Fund VIII, LP ("Fund VIII", and collectively, with
Fund V, Fund V-2, Fund VI and Fund VII, the "Funds"), First Reserve GP VII, LP,
("GP VII"), First Reserve GP VIII, LP ("GP VIII"), First Reserve Corporation
("First Reserve"), William E. Macaulay and John A. Hill relates to the Common
Stock, par value $0.01 per share (the "Common Stock"), of National-Oilwell, Inc.
a Delaware corporation ("National-Oilwell" or the "Company"). That original
Schedule 13D is hereby supplemented and amended as set forth below.
Item 5 is hereby deleted and replaced with the following:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) As of December 31, 1998, the Funds beneficially owned an aggregate
of 11,512,394 shares of Common Stock, constituting approximately 21.7% of the
52,996,785 shares of Common Stock outstanding as of November 11, 1998, as
reported by the Company.
GP VII and GP VIII as the general partner of Fund VII and Fund VIII,
respectively, may be deemed to beneficially own the shares of Common Stock owned
by those respective Funds. First Reserve as the general partner of Fund V, Fund
V-2, Fund VI, GP VII and GP VIII may be deemed to beneficially own all shares of
Common Stock owned by the Funds. Mr. Macaulay and Mr. Hill may be deemed to
share beneficial ownership of the shares beneficially owned by the Funds as a
result of their ownership of and control over First Reserve. Mr. Macaulay and
Mr. Hill disclaim beneficial ownership of such shares. Except as set forth
otherwise in this Schedule 13D, neither the filing of this Schedule nor any of
its contents shall be deemed to constitute an admission that Mr. Macaulay or Mr.
Hill is the
PAGE 12 OF 19 PAGES
13
beneficial owner of the Common Stock referred to in this paragraph for purposes
of Section 13(d) of the Exchange Act or for any other purpose, and such
beneficial ownership is expressly disclaimed.
The number and percentage of shares of Common Stock beneficially owned
by each Reporting Person are as follows:
Percentage of Shares
of Common Stock
Outstanding on
Shares August 12, 1998
------ --------------------
Fund V 334,830 .6%
Fund V-2 334,830 .6%
Fund VI 7,700,834 14.5%
Fund VII 1,548,600 2.9%
Fund VIII 1,593,300 3.0%
GP VII (through Fund VII) 1,548,600 2.9%
GP VIII (through Fund VIII) 1,593,300 3.0%
First Reserve (through the Funds) 11,512,394 21.7
William E. Macaulay* 11,513,727 21.7
John A. Hill* 11,512,394 21.7%
* 11,512,394 of the shares reported as beneficially owned by Mr. Macaulay and
all of the shares reported as beneficially owned by Mr. Hill are directly
owned by the Funds. Mr. Macaulay and Mr. Hill disclaim beneficial ownership
of such shares.
(b) Each Fund shares with its general partner the power to vote or to
direct the vote of the shares directly held by it. GP VII and GP VIII, in their
roles as general partners of Fund VII and Fund VIII, respectively, and First
Reserve, in its role as general partner Fund V, Fund V-2 and Fund VI, and of GP
VII and GP VIII, share with each Fund the power to cause each Fund to dispose of
PAGE 13 OF 19 PAGES
14
or vote the shares of Common Stock directly held by such Fund. As a result of
their positions with and ownership interest in First Reserve, Mr. Macaulay and
Mr. Hill may be deemed to have shared power to direct the voting and disposition
of all 11,512,394 shares of Common Stock held directly by the Funds. Mr.
Macaulay also owns options to purchase 1,333 shares of Common Stock and has sole
voting and dispositive power over these shares.
(c) The following routine brokerage transactions have been made by the
Reporting Persons in the previous 60 days:
(1) Purchases by Fund VII:
TRADE DATE SHARES PRICE PER SHARE
- ---------- ------ ---------------
12/1/98 36,000 $ 9.5625
12/1/98 26,000 9.4772
12/4/98 71,800 8.8211
-------
133,800
PAGE 14 OF 19 PAGES
15
(2) Purchases by Fund VIII:
TRADE DATE SHARES PRICE PER SHARE
- ---------- ------ ---------------
12/1/98 26,000 $ 9.4772
12/4/98 102,100 8.8211
12/7/98 24,800 9.9672
12/11/98 2,000 10.0000
12/22/98 4,600 10.0000
12/29/98 3,000 10.0000
12/30/98 14,000 10.0000
12/31/98 2,000 10.0000
-------
178,500
PAGE 15 OF 19 PAGES
16
(d) To the best knowledge of the Reporting Persons, no other person has
the right to receive, or the power to direct the receipt of dividends from, or
the power to direct the receipt of proceeds of the sale of the shares of Common
Stock owned by the Reporting Persons.
(e) Not applicable.
PAGE 16 OF 19 PAGES
17
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.
Dated: January 13, 1999.
FIRST RESERVE FUND V, LIMITED
PARTNERSHIP
By: First Reserve Corporation,
as General Partner
By: /s/ THOMAS R. DENISON
--------------------------------------
Name: Thomas R. Denison
Title: Managing Director
FIRST RESERVE FUND V-2, LIMITED
PARTNERSHIP
By: First Reserve Corporation,
as General Partner
By: /s/ THOMAS R. DENISON
--------------------------------------
Name: Thomas R. Denison
Title: Managing Director
FIRST RESERVE FUND VI, LIMITED
PARTNERSHIP
By: First Reserve Corporation,
as General Partner
By: /s/ THOMAS R. DENISON
--------------------------------------
Name: Thomas R. Denison
Title: Managing Director
PAGE 17 OF 19 PAGES
18
\
FIRST RESERVE FUND VII, LIMITED
PARTNERSHIP
By: First Reserve GP VII, LP, as General Partner
By: First Reserve Corporation,
as General Partner
By: /s/ THOMAS R. DENISON
--------------------------------------
Name: Thomas R. Denison
Title: Managing Director
FIRST RESERVE FUND VIII, LP
By: First Reserve GP VIII, LP,
as General Partner
By: First Reserve Corporation,
as General Partner
By: /s/ THOMAS R. DENISON
--------------------------------------
Name: Thomas R. Denison
Title: Managing Director
FIRST RESERVE GP VII, LP
By: First Reserve Corporation,
as General Partner
By: /s/ THOMAS R. DENISON
--------------------------------------
Name: Thomas R. Denison
Title: Managing Director
PAGE 18 OF 19 PAGES
19
FIRST RESERVE GP VIII, LP
By: First Reserve Corporation,
as General Partner
By: /s/ THOMAS R. DENISON
--------------------------------------
Name: Thomas R. Denison
Title: Managing Director
FIRST RESERVE CORPORATION
By: /s/ THOMAS R. DENISON
------------------------------------------
Name: Thomas R. Denison
Title: Managing Director
William E. Macaulay
By: /s/ THOMAS R. DENISON
------------------------------------------
Name: Thomas R. Denison
His Attorney-in-Fact
(See Attached Power of Attorney)
/s/ JOHN A. HILL
------------------------------------------
John A. Hill
PAGE 19 OF 19 PAGES
20
POWER OF ATTORNEY
(LIMITED)
KNOW ALL MEN BY THESE PRESENTS, that I, WILLIAM E. MACAULAY, of
GREENWICH, County of FAIRFIELD, State of CONNECTICUT, reposing special trust and
confidence in THOMAS R. DENISON, of LITTLETON, County of ARAPAHOE, State of
COLORADO, have made, constituted and appointed, and by these presents do make,
constitute and appoint the said THOMAS R. DENISON my true and lawful
attorney-in-fact and agent, for me and in my name, place and stead, BOTH FOR ME
PERSONALLY AND IN MY CAPACITY AS CHIEF EXECUTIVE OFFICER OF FIRST RESERVE
CORPORATION, with full power and authority to do and perform each and every act
necessary, as fully as I might do if personally present, to accomplish and
complete the following acts or transactions:
Sign on my behalf, any and all, filings (including filings with the
Securities and Exchange Commission), agreements, notices or documents
arising from, or related to, First Reserve Corporation's holdings,
investments or activities.
I, WILLIAM E. MACAULAY, hereby ratify and confirm all that said THOMAS
R. DENISON might or could lawfully do or lawfully cause to be done by virtue of
this POWER OF ATTORNEY. This POWER OF ATTORNEY shall remain in effect until
revoked and shall not be affected by disability of the principal.
EXECUTED this 27th day of October, 1998.
/s/ WILLIAM E. MACAULAY
-------------------------------------
William E. Macaulay
STATE of Texas
ss.
County of Harris
The foregoing instrument was acknowledged before me this 27th day of October,
1998, by William E. Macaulay, the Principal.
Witness my hand and official seal. /s/ CLIFFORD CHEADLE
-------------------------------------
Notary
My commission expires: 02-20-2001 [SEAL]
/s/ THOMAS R. DENISON
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Specimen Signature of Agent (Attorney)
