SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

ENCAP ENERGY CAPITAL FUND III LP

(Last)

(First)

(Middle)

(Street)

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
3TEC ENERGY CORP [ TTEN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/03/2003

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/03/2003		X		70,000	A	14.01⁽¹⁾	1,590,992	D
Common Stock	06/03/2003		X		20,000	A	13.89⁽²⁾	1,590,992	D
Common Stock	06/03/2003		X		20,000	A	15.13⁽³⁾	1,590,992	D
Common Stock	06/03/2003		X		372,393	A	3⁽⁴⁾	1,590,992	D
Common Stock	06/03/2003		X		57,688	D	14.01⁽¹⁾	1,590,992	D
Common Stock	06/03/2003		X		16,341	D	13.89⁽²⁾	1,590,992	D
Common Stock	06/03/2003		X		17,800	D	15.13⁽³⁾	1,590,992	D
Common Stock	06/03/2003		X		65,716	D	3⁽⁴⁾	1,590,992	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Series D Preferrred Stock	24	06/03/2003		J⁽⁵⁾			192,846	02/03/2000	06/03/2003⁽⁵⁾	Common Stock	192,846	$0⁽⁵⁾	0	D
Stock Option (right to buy)	14.01	06/03/2003		X			70,000	12/19/2001	12/18/2011	Common Stock	70,000	$0	0	D
Stock Option (right to buy	13.89	06/03/2003		X			20,000	01/02/2002	01/01/2012	Common Stock	20,000	$0	0	D
Stock Option (right to buy)	15.13	06/03/2003		X			20,000	01/02/2003	01/01/2013	Common Stock	20,000	$0	0	D
Warrant	3	06/03/2003		X			372,393	08/27/1999⁽⁶⁾	08/27/2004	Common Stock	372,393	$0	0	D

Explanation of Responses:

1. The reporting person obtained and sold the common stock as a result of the cashless exercise of stock options the exercise price of which was $14.01 per share.

2. The reporting person obtained and sold the common stock as a result of the cashless exercise of stock options the exercise price of which was $13.89 per share.

3. The reporting person obtained and sold the common stock as a result of the cashless exercise of stock options the exercise price of which was $15.13 per share.

4. The reporting person obtained and sold the common stock as a result of the cashless exchange of warrants, the price of which was $3.00 per share.

5. The shares of Series D Preferred Stock were called for redemption on June 3, 2003, by the issuer at a price equal to $24.00 plus declared and unpaid dividends of $0.21 per share.

6. Sixty percent of the Warrants were exercisable beginning August 27, 1999. The remaining 40% became exercisable over time.

	By: EnCap Investments L.L.C., its general partner	06/04/2003
	By: David B. Miller, Managing Director	06/04/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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