-----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, P85uZJOsRRSapFuiL6QfAOOqNJjZoWp3b/EOTXdFiVgrtc+VBgtao1S0Nn+sUSZQ RAFwyAnEnXG0Ty/JPnHJZg== 0000950134-99-005984.txt : 19990708 0000950134-99-005984.hdr.sgml : 19990708 ACCESSION NUMBER: 0000950134-99-005984 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990707 GROUP MEMBERS: FIRST RESERVE CORP /CT/ /ADV GROUP MEMBERS: FIRST RESERVE FUND VII LP GROUP MEMBERS: FIRST RESERVE GP VII LP GROUP MEMBERS: JOHN A HILL GROUP MEMBERS: WILLIAM E MACAULEY SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PATINA OIL & GAS CORP CENTRAL INDEX KEY: 0001006264 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 752629477 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-47499 FILM NUMBER: 99659946 BUSINESS ADDRESS: STREET 1: 1625 BROADWAY STREET 2: STE 2000 CITY: DENVER STATE: CO ZIP: 80202 BUSINESS PHONE: 3035928500 MAIL ADDRESS: STREET 1: 777 MAIN ST STREET 2: STE 2500 CITY: FORT WORTH STATE: TX ZIP: 76102 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FIRST RESERVE CORP /CT/ /ADV CENTRAL INDEX KEY: 0000814313 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 061210123 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 475 STEAMBOAT RD CITY: GREENWICH STATE: CT ZIP: 06830 BUSINESS PHONE: 2036616601 FORMER COMPANY: FORMER CONFORMED NAME: FIRST RESERVE CORP /CT/ /ADV DATE OF NAME CHANGE: 19950630 SC 13D/A 1 AMENDMENT NO. 2 TO SCHEDULE 13D 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13D/A AMENDMENT NO. 2 UNDER THE SECURITIES EXCHANGE ACT OF 1934 Patina Oil and Gas Corporation - ------------------------------------------------------------------------------- (Name of Issuer) Common Stock, par value $.01 per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 703224105 - -------------------------------------------------------------------------------- (CUSIP Number) Thomas R. Denison First Reserve Corporation 1801 California, Suite 4110 Denver, Colorado 80202 (303) 382-1270 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) June 30, 1999 - -------------------------------------------------------------------------------- (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 Statement because of Rule 13d-1(b)(3) or (4), check the following box: / / Check the following box if a fee is being paid with the statement: / / 2 SCHEDULE 13D/A CUSIP NO. 703224105 Page 1 of 10 - -------------------------------------------------------------------------------- 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 0 BENEFICIALLY ----------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING 2,629,974 PERSON ----------------------------------------------------------------- WITH 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 2,629,974 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,629,974 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 14.3% - -------------------------------------------------------------------------------- 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. 3 SCHEDULE 13D/A CUSIP NO. 703224105 Page 2 of 10 - -------------------------------------------------------------------------------- 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* 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 0 BENEFICIALLY ----------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING 2,629,974 PERSON ----------------------------------------------------------------- WITH 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 2,629,974 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,629,974 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 14.3% - -------------------------------------------------------------------------------- 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/A CUSIP NO. 703224105 Page 3 of 10 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON First Reserve GP VII, Limited Partnership 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 0 BENEFICIALLY ----------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING 2,629,974 PERSON ----------------------------------------------------------------- WITH 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 2,629,974 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,629,974 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 14.3% - -------------------------------------------------------------------------------- 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/A CUSIP NO. 703224105 Page 4 of 10 - -------------------------------------------------------------------------------- 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 0 BENEFICIALLY ----------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING 0 PERSON ----------------------------------------------------------------- WITH 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [x] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.0% - -------------------------------------------------------------------------------- 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. 6 SCHEDULE 13D/A CUSIP NO. 703224105 Page 5 of 10 - -------------------------------------------------------------------------------- 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 0 BENEFICIALLY ----------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING 0 PERSON ----------------------------------------------------------------- WITH 9 SOLE DISPOSITIVE POWER 0 ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [x] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.0% - -------------------------------------------------------------------------------- 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. 7 This Amendment No. 2 to the statement on Schedule 13D (the "Statement"), originally filed on October 24, 1997, as amended on July 16, 1998, is filed by First Reserve Fund VII, Limited Partnership ("Fund VII"), First Reserve GP VII, Limited Partnership ("GP VII"), First Reserve Corporation ("First Reserve"), William E. Macaulay and John A. Hill (together with Mr. Macaulay, First Reserve, GP VII and Fund VII, the "Reporting Persons") and relates to the common stock, par value $0.01 per share (the "Common Stock"), of Patina Oil & Gas Corporation (the "Issuer" or "Patina"). This Amendment No. 2 is filed to report increased share ownership through the receipt of dividends of Preferred Stock that is convertible into Common Stock of the Issuer. Item 5 is hereby deleted in its entirety and replaced with the following: Item 5. Interest in Securities of the Issuer. (a) As of the date hereof, the Reporting Persons identified in Item 2 are the beneficial owners of Patina Common Stock in the numbers and percentages set forth in the table below:
REPORTING PARTY NUMBERS OF SHARES PERCENTAGE OF CLASS(2) BENEFICIALLY OWNED Fund VII 2,629,974 14.3% GP VII(1) 2,629,974 14.3% First Reserve(1) 2,629,974 14.3% William E. Macaulay(1) 2,629,974 14.3% John A. Hill(1) 2,629,974 14.3%
(1) Consists solely of 2,623,540 shares owned by Fund VII and 3,434 shares and presently exercisable options to purchase 3,000 shares held by Thomas R. Denison. Mr. Macaulay and Mr. Hill disclaim beneficial ownership of all such shares. (2) Based on 18,429,613 shares of outstanding Common Stock. Includes 15,924,724 shares reported outstanding by the Issuer as of June 3, 1999 and 2,504,889 shares of Common Stock that may be received upon conversion of the Preferred Shares. Page 6 of 10 8 (b) The Reporting Parties and other persons identified in Item 2 have the following powers with respect to the Patina Common Stock they beneficially own:
REPORTING PARTY SOLE VOTING POWER SHARED VOTING POWER Fund VII 0 2,629,974 GP VII(1) 0 2,629,974 First Reserve(1) 0 2,629,974 William E. Macaulay(1) 0 2,629,974 John A. Hill(1) 0 2,629,974
(1) Consists solely of 2,623,540 shares owned by Fund VII and 3,434 shares and presently exercisable options to purchase 3,000 shares held by Thomas R. Denison. Mr. Macaulay and Mr. Hill disclaim beneficial ownership of all such shares. (c) As more fully described in Item 6, pursuant to the Purchase Agreement, Fund VII acquired from the Issuer 825,397 shares of Preferred Stock and 82,540 shares of Common Stock for a total price of $20,634,925 on October 21, 1997. As more fully described in the Issuer's Certificate of Designations for the Preferred Stock, incorporated by reference as Exhibit D to the original 13D filed on October 24, 1997, each share of Preferred Stock is convertible into 2.6316 shares of Common Stock. In addition, also as more fully described in Item 6, pursuant to the Option, Fund VII acquired 36,111 shares of Common Stock from SOCO. The effective fully diluted, weighted average price per share of Common Stock to Fund VII was $9.0079. Between the dates the original Statement and first Amendment to this Statement were filed, Fund VII received dividends on the Preferred Stock it owns in additional shares of Preferred Stock as follows: 13,641 shares on December 31, 1997; 17,829 shares on March 31, 1998; and 18,208 shares on June 30, 1998. These 49,678 shares of Preferred Stock are convertible into 130,731 shares of Common Stock. Since July 16, 1998, when the last Amendment to this Statement was filed, Fund VII has received dividends on the Preferred Stock it owns in additional shares of Preferred Stock as follows: 18,595 shares on September 30, 1998, 18,990 shares on December 31, 1998, 19,393 shares on March 31, 1999 and 19,805 shares on June 30, 1999. These 76,783 additional shares of Preferred Stock are convertible into 202,060 shares of Common Stock and have increased the shares of Common Stock deemed to be owned by Fund VII (and potentially the other reporting persons) to 2,629,974, 14.3% of the sum of the Issuer's reported outstanding Common Stock as of June 3, 1999 and the Common Stock receivable upon conversion of the Preferred Shares. Page 7 of 10 9 Thomas R. Denison is an officer of First Reserve and also a member of Patina's Board of Directors. As compensation for his membership on Patina's Board of Directors, Mr. Denison has received stock grants totaling 3,434 shares of Common Stock and options to purchase 3,000 shares of Common Stock. The Reporting Persons share dispositive control over these shares, and therefore beneficial ownership, because First Reserve restricts its officers and directors from selling or transferring stock in a portfolio company. 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: July 7, 1999 First Reserve Corporation By: /s/ Thomas R. Denison ------------------------- Name: Thomas R. Denison Title: Managing Director First Reserve Fund VII, Limited Partnership By: First Reserve GP VII, Limited Partnership as Managing General Partner By: First Reserve Corporation, as Managing General Partner By: /s/ Thomas R. Denison ------------------------ Name: Thomas R. Denison Title: Managing Director First Reserve GP VII, Limited Partnership By: First Reserve Corporation, as Managing General Partner By: /s/ Thomas R. Denison ------------------------ Name: Thomas R. Denison Title: Managing Director Page 8 of 10 10 William E. Macaulay By: /s/ Thomas R. Denison ------------------------- Name: Thomas R. Denison his attorney in fact (See attached Power-of-Attorney) John A. Hill By: /s/ Thomas R. Denison ------------------------- Name: Thomas R. Denison his attorney in fact (See attached Power-of-Attorney) Page 9 of 10 11 Delete Schedule I and replace with the following: SCHEDULE I The name, business address, and present principal occupation or employment of each of the executive officers and directors of First Reserve Corporation are set forth below. Unless otherwise indicated, (i) the business address of each is 475 Steamboat Road, Greenwich, Connecticut 06830; (ii) each such person is a citizen of the United States; (iii) such person does not have any other principal occupation; (iv) in the last five years, none have been convicted in a criminal proceeding (excluding traffic violations, or similar misdemeanors); and (v) in the last five years, none have been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction resulting in (y) such person becoming subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to federal or state securities laws or (z) a finding of any violation with respect to such laws. NAME AND POSITION WITH FIRST RESERVE CORPORATION William E. Macaulay Chairman, Chief Executive Officer, Managing Director and Director John A. Hill Vice Chairman, Managing Director and Director Benjamin A. Guill President, Managing Director and Director Jonathan S. Linker Managing Director Bruce M. Rothstein Managing Director Cathleen M. Ellsworth Managing Director Will H. Honeybourne Managing Director and Director Thomas R. Denison Managing Director, General Counsel and Secretary 1801 California St., Suite 4110 Denver, Colorado 80202 Jennifer G. Kornfield Vice President, Treasurer and Assistant Secretary Valarie A. Thomason Assistant Treasurer and Assistant Secretary Page 10 of 10 12 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 /s/ Thomas R. Denison -------------------------------------- Specimen Signature of Agent (Attorney) 13 POWER OF ATTORNEY (LIMITED) KNOW ALL MEN BY THESE PRESENTS, that I, JOHN A. HILL, 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 VICE-CHAIRMAN 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, JOHN A HILL, 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 3rd day of June, 1999. /s/ John A. Hill ---------------------------- John A. Hill STATE of Connecticut ---------------------------- ss. County of Fairfield ---------------------------- The foregoing instrument was acknowledged before me this 3rd day of June, 1999, by John A. Hill, the Principal. Witness my hand and official seal. /s/ Deana Ametrano --------------------------- Notary My commission expires: Sept. 30, 2003 /s/ Thomas R. Denison -------------------------------------- Specimen Signature of Agent (Attorney) -----END PRIVACY-ENHANCED MESSAGE-----