SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 13)*
LAMAR ADVERTISING COMPANY
(Name of Issuer)
CLASS A COMMON STOCK, PAR VALUE $0.001 PER SHARE
(Title of Class of Securities)
512815101
(CUSIP Number)
SPO Advisory Corp.
591 Redwood Highway, Suite 3215
Mill Valley, California 94941
(415) 383-6600
with a copy to:
Alison S. Ressler
Sullivan & Cromwell LLP
1888 Century Park East
Los Angeles, California 90067-1725
(310) 712-6600
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
September 5, 2012
(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 that 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 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).
Page 1 of 17 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON SPO Partners II, L.P.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS WC
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(e) OR 2(f) [_]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
12,575,384 (1)
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
12,575,384 (1)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,575,384
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.0%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
(1) Power is exercised through its sole general partner, SPO Advisory Partners,
L.P.
CUSIP No. 512815101 Page 2 of 17 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON SPO Advisory Partners, L.P.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS Not Applicable
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(e) OR 2(f) [_]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
12,575,384 (1)(2)
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
12,575,384 (1)(2)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,575,384
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.0%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
(1) Solely in its capacity as the sole general partner of SPO Partners II, L.P.
(2) Power is exercised through its sole general partner, SPO Advisory Corp.
CUSIP No. 512815101 Page 3 of 17 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
San Francisco Partners, L.P.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(e) OR 2(f) [_]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
California
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
516,730 (1)
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
516,730 (1)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
516,730
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
(1) Power is exercised through its sole general partner, SF Advisory Partners,
L.P.
CUSIP No. 512815101 Page 4 of 17 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
SF Advisory Partners, L.P.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
Not Applicable
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(e) OR 2(f) [_]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
516,730 (1)(2)
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
516,730 (1)(2)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
516,730
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
(1) Solely in its capacity as the sole general partner of San Francisco
Partners, L.P.
(2) Power is exercised through its sole general partner, SPO Advisory Corp.
CUSIP No. 512815101 Page 5 of 17 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
SPO Advisory Corp.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
Not Applicable
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(e) OR 2(f) [_]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
13,092,114 (1)(2)
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
13,092,114 (1)(2)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,092,114
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.7%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
(1) Solely in its capacity as the sole general partner of SPO Advisory
Partners, L.P. with respect to 12,575,384 of such shares; and solely
in its capacity as the sole general partner of SF Advisory Partners, L.P.
with respect to 516,730 of such shares.
(2) Power is exercised through its two controlling persons, John H. Scully and
Edward H. McDermott.
CUSIP No. 512815101 Page 6 of 17 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
John H. Scully
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
PF and Not Applicable
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(e) OR 2(f) [_]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
125,100 (1)
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED 13,092,114 (2)
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
125,100 (1)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
13,092,114 (2)
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,217,214
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.8%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
(1) Of these shares, 13,000 shares are held in the John H. Scully Individual
Retirement Accounts, which are self-directed, and 112,100 shares may be
deemed to be beneficially owned by Mr. Scully solely in his capacity as
controlling person, sole director and executive officer of Phoebe Snow
Foundation, Inc.
(2) These shares may be deemed to be beneficially owned by Mr. Scully solely
in his capacity as one of two controlling persons of SPO Advisory Corp.
CUSIP No. 512815101 Page 7 of 17 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
Phoebe Snow Foundation, Inc.
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [_]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
California
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
112,100 (1)
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
112,100 (1)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
112,100
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
(1) Power is exercised through its controlling person, sole director and
executive officer, John H. Scully.
CUSIP No. 512815101 Page 8 of 17 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
Eli J. Weinberg
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
PF
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(f) [_]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
126
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
126
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
126
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
**0.1%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
** Denotes less than.
CUSIP No. 512815101 Page 9 of 17 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
Ian R. McGuire
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
PF
--------------------------------------------------------------------------------
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
1,156 (1)
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED -0-
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
1,156 (1)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,156
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
**0.1%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
** Denotes less than.
(1) Of these shares, 256 shares are held in the Ian R. McGuire Individual
Retirement Account, which is self-directed.
CUSIP No. 512815101 Page 10 of 17 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
Edward H. McDermott
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
PF and Not Applicable
--------------------------------------------------------------------------------
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
3,834 (1)
------------------------------------------------------
NUMBER OF SHARES 8. SHARED VOTING POWER
BENEFICIALLY OWNED 13,092,114 (2)
BY EACH REPORTING ------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
3,834 (1)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
13,092,114 (2)
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,095,948
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [_]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.7%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
(1) Of these, 600 shares are held in the Edward H. McDermott Individual
Retirement Account, which is self-directed.
(2) These shares may be deemed to be beneficially owned by Mr. McDermott solely
in his capacity as one of two controlling persons of SPO Advisory Corp.
Page 11 of 17 pages
This Amendment No. 13 amends the Schedule 13D (the "Original 13D")
filed with the Securities and Exchange Commission ("SEC") on August 22, 2005
and as amended on May 10, 2006, July 19, 2006, July 31, 2007, October 2, 2007,
March 21, 2008, April 15, 2008, June 26, 2008, July 1, 2008, July 7, 2008, July
15, 2008, September 19, 2008 and August 10, 2012. Unless otherwise stated
herein, the Original 13D, as previously amended, remains in full force and
effect. Terms used therein and not defined herein shall have the meanings
ascribed thereto in the Original 13D.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 is hereby amended and restated in its entirety as follows:
The source and amount of the funds used or to be used by the Reporting
Persons to purchase Shares are as follows:
NAME SOURCE OF FUNDS AMOUNT OF FUNDS
--------------------- --------------------------- ---------------
SPO Contributions from Partners $558,312,461
SPO Advisory Partners Not Applicable Not Applicable
SFP Contributions from Partners $23,535,107
SF Advisory Partners Not Applicable Not Applicable
SPO Advisory Corp. Not Applicable Not Applicable
JHS Not Applicable and Personal Funds $590,807
PS Foundation Contributions from Shareholders $12,416,030
EJW Personal Funds $5,672
IRM Personal Funds $55,943
EHM Not Applicable and Personal Funds $19,562
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is hereby amended and restated in its entirety as follows:
(a) Percentage interest calculations for each Reporting Person are
based upon the Issuer having 78,447,313 total outstanding shares of Class A
common stock as reported on the Issuer's 10-Q filed with the Securities and
Exchange Commission on August 8, 2012.
SPO
The aggregate number of Shares that SPO owns beneficially, pursuant to
Rule 13d-3 of the Act, is 12,575,384 Shares, which constitutes approximately
16.0% of the outstanding Shares.
SPO Advisory Partners
Because of its position as the sole general partner of SPO, SPO
Advisory Partners may, pursuant to Rule 13d-3 of the Act, be deemed to be the
beneficial owner of 12,575,384 Shares, which constitutes approximately 16.0% of
the outstanding Shares.
SFP
The aggregate number of Shares that SFP owns beneficially, pursuant to
Rule 13d-3 of the Act, is 516,730 Shares, which constitutes approximately 0.7%
of the outstanding Shares.
Page 12 of 17 pages
SF Advisory Partners
Because of its position as the sole general partner of SFP, SF Advisory
Partners may, pursuant to Rule 13d-3 of the Act, be deemed to be the beneficial
owner of 516,730 Shares, which constitutes approximately 0.7% of the outstanding
Shares.
SPO Advisory Corp.
Because of its positions as the sole general partner of each of SPO
Advisory Partners and SF Advisory Partners, SPO Advisory Corp. may, pursuant to
Rule 13d-3 of the Act, be deemed to be the beneficial owner of 13,092,114 Shares
in the aggregate, which constitutes approximately 16.7% of the outstanding
Shares.
JHS
Individually, and because of his positions as a control person of SPO
Advisory Corp. and controlling person, sole director and executive officer of PS
Foundation, JHS may, pursuant to Rule 13d-3 of the Act, be deemed to be the
beneficial owner of 13,217,214 Shares, which constitutes approximately 16.8% of
the outstanding Shares.
PS FOUNDATION
The aggregate number of Shares that PS Foundation owns beneficially,
pursuant to Rule 13d-3 of the Act, is 112,100 Shares, which constitutes
approximately 0.1% of the outstanding Shares.
EJW
The aggregate number of Shares that EJW owns beneficially, pursuant to
Rule 13d-3 of the Act, is 126 Shares, which constitutes less than 0.1% of the
outstanding Shares.
IRM
The aggregate number of Shares that IRM owns beneficially, pursuant to
Rule 13d-3 of the Act, is 1,156 Shares, which constitutes less than 0.1% of the
outstanding Shares.
EHM
Individually and because of his position as a control person of SPO
Advisory Corp., EHM may, pursuant to Rule 13d-3 of the Act, be deemed to be the
beneficial owner of 13,095,948 Shares, which constitutes approximately 16.7% of
the outstanding Shares.
To the best of the knowledge of each of the Reporting Persons, other
than as set forth above, none of the persons named in Item 2 hereof is the
beneficial owner of any Shares.
Page 13 of 17 pages
(b)
SPO
Acting through its sole general partner, SPO has the sole power to vote
or to direct the vote and to dispose or to direct the disposition of 12,575,384
Shares.
SPO Advisory Partners
Acting through its sole general partner and in its capacity as the sole
general partner of SPO, SPO Advisory Partners has the sole power to vote or to
direct the vote and to dispose or to direct the disposition of 12,575,384
Shares.
SFP
Acting through its sole general partner, SFP has the sole power to vote
or to direct the vote and to dispose or to direct the disposition of 516,730
Shares.
SF Advisory Partners
Acting through its sole general partner and in its capacity as the sole
general partner of SFP, SF Advisory Partners has the sole power to vote or to
direct the vote and to dispose or to direct the disposition of 516,730 Shares.
SPO Advisory Corp.
Acting through its controlling persons and in its capacities as the
sole general partner of each of SPO Advisory Partners and SF Advisory Partners,
SPO Advisory Corp. has the sole power to vote or to direct the vote and to
dispose or to direct the disposition of 13,092,114 Shares in the aggregate.
JHS
As one of two controlling persons of SPO Advisory Corp., which is the
sole general partner of each of SPO Advisory Partners and SF Advisory Partners,
JHS may be deemed to have shared power with EHM to vote or to direct the vote
and to dispose or to direct the disposition of 13,092,114 Shares held by SPO
and SFP in the aggregate. In addition, JHS has the sole power to vote or to
direct the vote and to dispose or to direct the disposition of 13,000 Shares
held in the John H. Scully Individual Retirement Accounts, which are
self-directed individual retirement accounts, and 112,100 Shares held by the PS
Foundation, for which JHS is the controlling person, sole director and
executive officer.
PS FOUNDATION
Acting through its controlling person, PS Foundation has the sole power
to vote or to direct the vote and to dispose or to direct the disposition of
112,100 Shares.
Page 14 of 17 pages
EJW
EJW has the sole power to vote or to direct the vote and to dispose or
to direct the disposition of 126 Shares.
IRM
IRM has the sole power to vote or to direct the vote and to dispose or
to direct the disposition of 256 Shares held in the Ian R. McGuire Individual
Retirement Account, which is a self-directed individual retirement account. In
addition, IRM has the sole power to vote or to direct the vote and to dispose
or to direct the disposition of 900 Shares.
EHM
As one of two controlling persons of SPO Advisory Corp., which is the
sole general partner of each of SPO Advisory Partners and SF Advisory Partners,
EHM may be deemed to have shared power with JHS to vote or to direct the vote
and to dispose or to direct the disposition of 13,092,114 Shares held by SPO
and SFP in the aggregate. In addition, EHM has the sole power to vote or to
direct the vote and to dispose or to direct the disposition of 600 Shares held
in the Edward H. McDermott Individual Retirement Account, which is a
self-directed individual retirement account. EHM also has the sole power to vote
or to direct the vote and to dispose or to direct the disposition of 3,834
Shares.
(c) Since the filing of Amendment No. 12 to the Original 13D on August
10, 2012, the Reporting Persons disposed of Shares as set forth on Schedule I
attached hereto.
Except as set forth in this paragraph (c), to the best of the
knowledge of each of the Reporting Persons, none of the persons named in
response to paragraph (a) has effected any transactions in Shares since the
filing of Amendment No. 12 to the Original 13D on August 10, 2012.
(d) Each of the Reporting Persons affirms that no person other than
such Reporting Person has the right to receive or the power to direct the
receipt of distributions with respect to, or the proceeds from the sale of,
Shares owned by such Reporting Person.
(e) Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Item 7 is hereby amended and restated in its entirety as follows:
Exhibit A: Agreement pursuant to Rule 13d-1 (k)
Page 15 of 17 pages
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 September 7, 2012 By: /s/ Kim M. Silva
--------------------------------
Kim M. Silva
Attorney-in-Fact for:
SPO PARTNERS II, L.P.(1)
SPO ADVISORY PARTNERS, L.P.(1)
SAN FRANCISCO PARTNERS, L.P.(1)
SF ADVISORY PARTNERS, L.P.(1)
SPO ADVISORY CORP.(1)
JOHN H. SCULLY(1)
PHOEBE SNOW FOUNDATION, INC.(1)
ELI J. WEINBERG(1)
IAN R. MCGUIRE(1)
EDWARD H. MCDERMOTT(1)
(1) A Power of Attorney
authorizing Kim M. Silva to
act on behalf of this
person or entity has been
previously filed with the
Securities and Exchange
Commission.
Page 16 of 17 pages
Schedule I to Schedule 13D
DATE OF NUMBER OF WEIGHTED AVERAGE(1) WHERE/HOW
REPORTING PERSON TRANSACTION TYPE SHARES PRICE PER SHARE $ TRANSACTION EFFECTED
------------------------------------------------------------------------------------------------------------------
SPO Partners II, L.P. 9/5/2012 Sell 144,600 32.96(2) Open Market/Broker
------------------------------------------------------------------------------------------------------------------
San Francisco Partners, L.P. 9/5/2012 Sell 5,900 32.96(2) Open Market/Broker
------------------------------------------------------------------------------------------------------------------
Phoebe Snow Foundation, Inc. 9/5/2012 Sell 1,300 32.96(2) Open Market/Broker
------------------------------------------------------------------------------------------------------------------
John H. Scully IRA Rollover 9/5/2012 Sell 200 32.96(2) Open Market/Broker
------------------------------------------------------------------------------------------------------------------
SPO Partners II, L.P. 9/6/2012 Sell 2,233,800 32.02(3) Open Market/Broker
------------------------------------------------------------------------------------------------------------------
San Francisco Partners, L.P. 9/6/2012 Sell 91,900 32.02(3) Open Market/Broker
------------------------------------------------------------------------------------------------------------------
Phoebe Snow Foundation, Inc. 9/6/2012 Sell 19,900 32.02(3) Open Market/Broker
------------------------------------------------------------------------------------------------------------------
John H. Scully IRA Rollover 9/6/2012 Sell 2,400 32.02(3) Open Market/Broker
------------------------------------------------------------------------------------------------------------------
_______________
(1) The prices listed below represent the weighted average prices at which the amount of shares listed in each row
were sold (full detailed information regarding the shares purchased and the corresponding prices will be provided
upon request).
(2) The range of prices for these sales was $32.80 - $33.28.
(3) The range of prices for these sales was $32.00 - $32.98.
Page 17 of 17 pages
EXHIBIT INDEX
EXHIBIT DOCUMENT DESCRIPTION
------- --------------------
A Agreement Pursuant to Rule 13d-1 (k)