SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
RUTHERFORD-MORAN OIL CORPORATION
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(Name of Issuer)
Common Stock, $0.01 par value per share
------------------------------------------------
(Title of Class of Securities)
783286-10-7
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(CUSIP Number)
Lydia I. Beebe Terry M. Kee
Chevron Corporation Pillsbury Madison & Sutro
575 Market Street P.O. Box 7880
San Francisco, CA 94105 San Francisco, CA 94120
(415) 894-7700 (415) 983-1000
------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 27, 1999
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(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 S. 240.13d-1(e), S. 240.13d-1(f) or S. 240.13d-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 S. 240.13d-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).
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CUSIP No. 783286 10 7
1) Names of Reporting Persons
S.S. or I.R.S. Identification Nos. of Above Persons
Chevron Corporation
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2) Check the Appropriate Box if a Member of a Group
(See Instructions)
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Source of Funds (See Instructions)
00
- --------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6) Citizenship or Place of Organization
Delaware
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7) Sole Voting Power
19,223,201
Number of Shares ---------------------------------------------------
Beneficially 8) Shared Voting Power
Owned by Each
Reporting 0
Person With ---------------------------------------------------
9) Sole Dispositive Power
19,223,201
---------------------------------------------------
10) Shared Dispositive Power
0
- --------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each
Reporting Person
19,223,201
- --------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes
Certain Shares (See Instructions) [ ]
- --------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11)
75.1%
- --------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions)
CO
- --------------------------------------------------------------------------------
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CUSIP No. 783286 10 7
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1) Names of Reporting Persons
S.S. or I.R.S. Identification Nos. of Above Persons
Chevron Thailand Inc.
- --------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group
(See Instructions)
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Source of Funds (See Instructions)
00
- --------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6) Citizenship or Place of Organization
Delaware
---------------------------------------------------
7) Sole Voting Power
0
Number of Shares ---------------------------------------------------
Beneficially 8) Shared Voting Power
Owned by Each
Reporting 19,223,201
Person With ---------------------------------------------------
9) Sole Dispositive Power
0
---------------------------------------------------
10) Shared Dispositive Power
19,223,201
- --------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each
Reporting Person
19,223,201
- --------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes
Certain Shares (See Instructions) [ ]
- --------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11)
75.1%
- --------------------------------------------------------------------------------
14) Type of Reporting Person (See Instructions)
CO
- --------------------------------------------------------------------------------
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With respect to each contract, agreement or other document referred to
herein and filed with the Securities and Exchange Commission as an exhibit to
this report, reference is made to the exhibit for a more complete description of
the matter involved, and each such statement shall be deemed qualified in its
entirety by such reference.
ITEM 1. SECURITY AND ISSUER.
This Statement relates to the Common Stock, $0.01 par value per share (the
"Common Stock") of Rutherford-Moran Oil Corporation, a Delaware corporation (the
"Issuer" or "Rutherford-Moran"), whose principal executive offices are located
at 5 Greenway Plaza, Suite 220, Houston, Texas 77046.
ITEM 2. IDENTITY AND BACKGROUND.
(a, b, c and f) This Statement is being filed by Chevron Corporation, a
Delaware corporation ("Reporting Person") and Chevron Thailand Inc., a Delaware
Corporation ("Chevron Sub"). The principal office of the Reporting Person and
Chevron Sub is 575 Market Street, San Francisco, CA 94105.
The principal business of the Reporting Person is to provide
administrative, financial and management support for, and manage its investments
in, United States and foreign subsidiaries and affiliates, which engage in fully
integrated petroleum operations, chemical operations and coal mining. The
Reporting Person operates in the United States and approximately 90 other
countries. Chevron Sub is a wholly owned subsidiary of the Reporting Person,
incorporated in Delaware on December 23, 1998 for the sole purpose of effecting
the transactions contemplated by the Merger Agreement (as described in Item 4).
Schedules I and II which are attached hereto and incorporated herein in
their entirety by reference, set forth the name, residence or business address,
citizenship and certain employment information of each of the executive officers
and directors of the Reporting Person and Chevron Sub.
(d) Neither the Reporting Person, nor Chevron Sub, nor to the best
knowledge of either the Reporting Person or Chevron Sub, any entity or person
with respect to which information is provided in response to this Item 2 has,
during the last five years, been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors).
(e) Neither the Reporting Person, nor Chevron Sub, nor to the best
knowledge of either the Reporting Person or Chevron Sub, any entity or person
with respect to which information is provided in response to this Item has,
during the last five years, been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding
was or is 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 finding any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Under both the Merger Agreement and the Option and Voting Agreement, the
consideration is to be shares of common stock of the Reporting Person, as
described in Item 4.
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ITEM 4. PURPOSE OF TRANSACTION.
Agreement and Plan of Merger
----------------------------
On December 23, 1998, the Reporting Person, Chevron Sub and
Rutherford-Moran entered into an Agreement and Plan of Merger ("Merger
Agreement") whereby Chevron Sub will be merged (the "Merger") with and into
Rutherford-Moran in accordance with Delaware General Corporation Law, as amended
from time to time ("Delaware Law"). Portions of the Merger Agreement were
subject to approval of the Board of Directors of Chevron. Such approval was
obtained on January 27, 1999. A copy of the Merger Agreement is filed as Exhibit
1 to this Schedule 13D and is incorporated herein by reference.
Option and Voting Agreement
---------------------------
In connection with the Merger, certain stockholders of Rutherford-Moran
(the "Principal Stockholders") entered into an Option and Voting Agreement
("Option and Voting Agreement") dated December 23, 1998 with the Reporting
Person. Such holders own approximately 75.1% of the outstanding Common Stock of
Rutherford-Moran.
Each Principal Stockholder has granted to the Reporting Person an option to
purchase the shares of Rutherford-Moran Common Stock beneficially owned by such
stockholder (the "Subject Shares") (each an "Option" and, collectively, the
"Options") for approximately $3.50 worth of common stock of the Reporting Person
per share of Rutherford-Moran Common Stock. The exercise price of the Option for
each Subject Share equals that number of fully paid and nonassessable shares of
the Reporting Person common stock equal to the Option Exchange Ratio (as
hereinafter defined) divided by the Average Closing Price (the "Option Per Share
Consideration"). "Option Exchange Ratio" equals the result obtained by dividing
a numerator equal to the sum of (a) $91,000,000, (b) the amount of cash, if any,
received by Rutherford-Moran in consideration of the issuance of its equity
securities after December 23, 1998 and before the date on which the Reporting
Person exercises the Options (the "Option Exercise Date"), (c) an amount equal
to the value, if any, as agreed by Rutherford-Moran and the Reporting Person, of
any non-cash consideration received by Rutherford-Moran in consideration of its
equity securities after December 23, 1998 and before the Option Exercise Date,
and (d) the cash consideration projected to be received by Rutherford-Moran in
exchange for the expected issuance of equity securities pursuant to then
existing contractual commitments and based on an exercise price equal to or less
than the consideration to be received per share of Rutherford-Moran Common Stock
pursuant to the Merger Agreement, by a denominator equal to the sum of (y) the
number of shares of Rutherford-Moran Common Stock issued and outstanding on the
Option Exercise Date and (z) the number of shares of Rutherford-Moran Common
Stock issuable upon exercise of all outstanding warrants or options to acquire
Rutherford-Moran Common Stock which have an exercise price equal to or less than
the consideration to be received per share of Rutherford-Moran Common Stock
pursuant to the Merger Agreement, assuming, for the purpose of this calculation
only, that the Effective Time of the Merger is the same date as the Option
Exercise Date. The Reporting Person may exercise the options with respect to
all, but not less than all, of the Subject Shares. The Options remain
exercisable until June 1, 1999. Chevron has recently been advised by counsel
that such options are currently exercisable, as the acquisition of the shares
would qualify for an exemption from the notification requirements under the
Hart-Scott-Rodino Antitrust Improvement Act.
Further, each of the Principal Stockholders has agreed to vote their
Subject Shares at any meeting of Rutherford-Moran's stockholders called to vote
upon the Merger Agreement (or in any other circumstances upon which a vote,
consent or other approval, including a written consent, with respect to the
Merger Agreement is sought) (a) in favor of the approval and adoption of the
Merger Agreement, and (b) against (1) any merger, consolidation, business
combination, sale of substantially all assets, recapitalization, liquidation or
similar transaction involving Rutherford-Moran, other than the transactions
contemplated by the Merger Agreement (each an "Other Proposal"), and (2) any
amendment of Rutherford-Moran's certificate of incorporation or by-laws or other
proposal would in any manner impede, frustrate, prevent, delay or nullify the
Merger Agreement or any of the other transactions contemplated by the Merger
Agreement or change in any manner the voting rights of any class of capital
stock of Rutherford-Moran. Upon the Reporting Person's or
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Chevron Sub's request, each Principal Stockholder has agreed to irrevocably
grant to and to appoint the Reporting Person and Chevron Sub, and each of them,
and any person designated by either of them as permitted under applicable law,
the stockholder's proxy and attorney-in-fact to vote the Subject Shares or grant
a consent or approval in respect of the Subject Shares, in favor of or against,
as the case may be, the matters described above and to execute and deliver an
appropriate instrument irrevocably granting such proxy. The proxy so granted
will terminate upon any termination of the Option and Voting Agreement in
accordance with its terms.
Each Principal Stockholder has further agreed not to (a) transfer, sell,
pledge, assign or otherwise dispose of (including by gift) any of the Subject
Shares to any person except pursuant to the Option and Voting Agreement, or
(b) enter into any voting arrangement in connection with any Other Proposal.
It is the intention of Reporting Person to cause the registration of the
Common Stock of Rutherford- Moran to cease upon the acquisition of all the
outstanding shares of capital stock of Rutherford-Moran by the Reporting Person
pursuant to the Merger.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The aggregate number of shares of Common Stock of the Issuer deemed to
be beneficially owned by the Reporting Person pursuant to the Option and Voting
Agreement is 19,223,201 shares, which represents approximately 75.1% of the
outstanding shares of Common Stock of the Issuer.
Chevron Sub does not own any shares of the Issuer directly, but may be
deemed to share beneficial ownership of all the shares of Common Stock deemed
owned by the Reporting Person by virtue of the grant of irrevocable proxies with
respect to such shares of Common Stock under the Option and Voting Agreement
described in Item 4.
(b) The Reporting Person and Chevron Sub have the right to direct the vote
of the 19,223,201 shares of Common Stock with respect to the Merger, subject to
the terms and conditions of the Merger Agreement and the Option and Voting
Agreement.
(c) Not applicable.
(d) Except as described above, no other person is known to have the right
to receive or the power to direct the receipt of dividends from or the proceeds
from the sale of such shares of Common Stock beneficially owned by the Reporting
Person or Chevron Sub.
(e) Not applicable.
Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER.
On December 23, 1998, the Reporting Person, Chevron Sub and
Rutherford-Moran entered into an Agreement and Plan of Merger whereby Chevron
Sub will be merged with and into Rutherford-Moran in accordance with Delaware
Law. (See Item 4, which is incorporated herein by reference.)
On December 23, 1998 the Reporting Person also entered into the Option and
Voting Agreement. (See Item 4).
Copies of the Merger Agreement and the Option and Voting Agreement are
filed as Exhibits 1 and 2 to this Schedule 13D and are incorporated herein by
reference to filings made by the Issuer.
At present, there are no other contracts, arrangements, understandings, or
relationships with respect to securities of the Issuer involving the Reporting
Person or Chevron Sub.
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ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
1. Merger Agreement (incorporated by reference to Exhibit 2.1 to the
Issuer's Current Report on Form 8-K dated December 31, 1998).
2. Option and Voting Agreement (incorporated by reference to Exhibit 99.2
to the Issuer's Current Report on Form 8-K dated December 31, 1998).
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SIGNATURE
After reasonable inquiry and to the best of their knowledge and belief, the
undersigned certifies that the information set forth in this Statement is true,
complete and correct.
Date: February 1, 1999 CHEVRON CORPORATION
By /s/ Lydia I. Beebe
---------------------------------
Lydia I. Beebe,
Vice President and Secretary
CHEVRON THAILAND INC.
By /s/ Hilman P. Walker
---------------------------------
Hilman P. Walker,
Vice President and Secretary
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SCHEDULE I
The following table sets for the name, residence or business address,
citizenship, present principal occupation or employment, and the name, principal
business and address of any corporation in which such employment is conducted,
of each executive officer and director of Chevron Corporation ("Chevron").
====================================================================================================================================
Name Citizenship Employment Information
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Occupation Business Address Business of Employer
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K. T. Derr U.S. Chairman and Chief 575 Market Street See Item 2
Executive Officer of Chevron San Francisco, CA 94105
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J. N. Sullivan U.S. Vice Chairman of Chevron 575 Market Street See Item 2
San Francisco, CA 94105
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D. J. O'Reilly U.S. Vice Chairman of Chevron 575 Market Street See Item 2
San Francisco, CA 94105
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M. R. Klitten U.S. Vice President and Chief 575 Market Street See Item 2
Financial Officer of San Francisco, CA 94105
Chevron
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D. W. Callahan U.S. Vice President of Chevron 575 Market Street See Item 2
San Francisco, CA 94105
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H. D. Hinman U.S. Vice President and General 575 Market Street See Item 2
Counsel of Chevron San Francisco, CA 94105
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G. K. Carter U.S. Vice-President and 575 Market Street See Item 2
Treasurer San Francisco, CA 94105
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A. M. Caccamo U.S. Vice President 575 Market Street See Item 2
San Francisco, CA 94105
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L. E. Elkins Jr. U.S. Vice President 575 Market Street See Item 2
San Francisco, CA 94105
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G. Matiuk U.S. Vice President 575 Market Street See Item 2
San Francisco, CA 94105
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R. H. Matzke U.S. Vice President 575 Market Street See Item 2
San Francisco, CA 94105
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D. L. Paul U.S. Vice President 575 Market Street See Item 2
San Francisco, CA 94105
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P. J. Robertson U.K. Vice President 575 Market Street See Item 2
San Francisco, CA 94105
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J. S. Watson U.S. Vice President 575 Market Street See Item 2
San Francisco, CA 94105
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S. H. Armacost U.S. Chairman, SRI International 333 Ravenswood Avenue Consulting
Menlo Park, CA 94025
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S. Ginn U.S. Chairman and C.E.O. of One California Street Wireless
AirTouch Communications, San Francisco, CA 94111 telecommunications
Inc.
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C. A. Hills U.S. Chairman and C.E.O. of 1200 19th Street, N.W. Consulting
Hills & Company #201 Washington, DC
International Consultants 20036
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J.B. Johnston U.S. Chief Executive Officer, 1455 Pennsylvania Ave. Consulting
Johnston & Associates NW, Washington, DC
20004
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C. M. Pigott U.S. Chairman Emeritus of P.O. Box 1518 Transportation
PACCAR Inc Bellevue, WA 98009 equipment
manufacture
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C. Rice U.S. Provost and Vice President Building 10, Higher education
of Stanford University Stanford University
Stanford, CA 94305
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F.A. Shrontz U.S. Retired as Chairman of the 7755 E. Marginal Way S. Manufacture of
Board and CEO of the Seattle, WA 98108 aircraft
Boeing Company
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G. H. U.S. Chairman of Weyerhaeuser CH 5 Forest products
Company Tacoma, WA 98477
Weyerhaeuser
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J. A. Young U.S. Vice-Chairman of Novell, 3200 Hillview Avenue Software
Inc. Palo Alto, CA 94304
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C-L Tien U.S. NEC Distinguished Professor of 6101 Etcheverey Hall Education
Engineering, University of Berkeley, CA 94720
California
====================================================================================================================================
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SCHEDULE II
The following table sets for the name, residence or business address,
citizenship, present principal occupation or employment, and the name, principal
business and address of any corporation in which such employment is conducted,
of each executive officer and director of Chevron Thailand Inc.
====================================================================================================================================
Name Citizenship Employment Information
========================================================================================
Occupation Business Address Business of Employer
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R. H. Matzke U.S. President 575 Market Street See Item 2
San Francisco, CA 94105
- ------------------------------------------------------------------------------------------------------------------------------------
H. P. Walker U.S. Vice President and 575 Market Street See Item 2
Secretary San Francisco, CA 94105
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R. A. Lagasy U.S. Vice President 575 Market Street See Item 2
San Francisco, CA 94105
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C. K. Potter U.S. Vice President 575 Market Street See Item 2
San Francisco, CA 94105
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E. B. Scott U.S. Vice President 575 Market Street See Item 2
San Francisco, CA 94105
====================================================================================================================================
EXHIBIT INDEX
1. Merger Agreement (incorporated by reference to Exhibit 2.1 to the Issuer's
Current Report on Form 8-K dated December 31, 1998).
2. Option and Voting Agreement (incorporated by reference to Exhibit 99.2 to
the Issuer's Current Report on Form 8-K dated December 31, 1998).
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