SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
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)
MAY 8, 2006
(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 18 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
6,531,500 (1)
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By -0-
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
6,531,500 (1)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,531,500 (1)
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.4%
--------------------------------------------------------------------------------
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 18 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
6,531,500 (1)(2)
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By -0-
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
6,531,500 (1)(2)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,531,500 (1)(2)
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.4%
--------------------------------------------------------------------------------
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 18 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
San Francisco 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
California
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
404,130 (1)
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By -0-
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
404,130 (1)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
404,130 (1)
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5%
--------------------------------------------------------------------------------
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 18 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
404,130 (1)(2)
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By -0-
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
404,130 (1)(2)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
404,130 (1)(2)
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
(1) Solely in its capacity as the sole general partner of San Francisco
Partners II, L.P.
(2) Power is exercised through its sole general partner, SPO Advisory Corp.
CUSIP No. 512815101 Page 5 of 18 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
6,935,630 (1)(2)
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By -0-
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
6,935,630 (1)(2)
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,935,630 (1)(2)
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.9%
--------------------------------------------------------------------------------
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 6,531,500 of such shares; and solely
in its capacity as the sole general partner of SF Advisory Partners, L.P.
with respect to 404,130 of such shares.
(2) Power is exercised through its three controlling persons, John H. Scully,
William E. Oberndorf and William J. Patterson.
CUSIP No. 512815101 Page 6 of 18 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
John Scully
--------------------------------------------------------------------------------
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
USA
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
-0-
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By 6,935,630 (1)
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
6,935,630 (1)
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,935,630 (1)
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.9%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
(1) These shares may be deemed to be beneficially owned by Mr. Scully solely
in his capacity as one of three controlling persons of SPO Advisory Corp.
CUSIP No. 512815101 Page 7 of 18 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
William E. Oberndorf
--------------------------------------------------------------------------------
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
USA
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
-0-
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By 6,935,630 (1)
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
6,935,630 (1)
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,935,630 (1)
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.9%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
(1) These shares may be deemed to be beneficially owned by Mr. Oberndorf solely
in his capacity as one of three controlling persons of SPO Advisory Corp.
CUSIP No. 512815101 Page 8 of 18 pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
William J. Patterson
--------------------------------------------------------------------------------
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
USA
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
-0-
------------------------------------------------------
Number Of Shares 8. SHARED VOTING POWER
Beneficially Owned By 6,935,630 (1)
Each Reporting Person ------------------------------------------------------
With 9. SOLE DISPOSITIVE POWER
-0-
------------------------------------------------------
10. SHARED DISPOSITIVE POWER
6,935,630 (1)
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,935,630 (1)
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.9%
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
(1) These shares may be deemed to be beneficially owned by Mr. Patterson solely
in his capacity as one of three controlling persons of SPO Advisory Corp.
Page 9 of 18 pages
This Amendment No. 1 amends the Schedule 13D (the "Original 13D") filed
with the Securities and Exchange Commission ("SEC") on August 22, 2005. Unless
otherwise stated herein, the Original 13D 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 $282,923,019
SPO Advisory Partners Not Applicable Not Applicable
SFP Contributions from Partners $16,946,284
SF Advisory Partners Not Applicable Not Applicable
SPO Advisory Corp. Not Applicable Not Applicable
JHS Not Applicable Not Applicable
WEO Not Applicable Not Applicable
WJP Not Applicable Not Applicable
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) Percentage interest calculations for each Reporting Person are
based upon the Issuer having 88,229,697 total outstanding shares of Class A
common stock as reported on the Issuer's Schedule 14A filed with the Securities
and Exchange Commission on April 26, 2006.
SPO
The aggregate number of Shares that SPO owns beneficially, pursuant to
Rule 13d-3 of the Act, is 6,531,500 Shares, which constitutes approximately
7.4% 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 6,531,500 Shares, which constitutes approximately 7.4%
of the outstanding Shares.
SFP
The aggregate number of Shares that SFP owns beneficially, pursuant to
Rule 13d-3 of the Act, is 404,130 Shares, which constitutes approximately
0.5% of the outstanding Shares.
Page 10 of 18 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 404,130 Shares, which constitutes approximately 0.5% 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 6,935,630
Shares in the aggregate, which constitutes approximately 7.9% of the
outstanding Shares.
JHS
Because of his position as a control person of SPO Advisory Corp., JHS
may, pursuant to Rule 13d-3 of the Act, be deemed to be the beneficial owner of
6,935,630 Shares, which constitutes approximately 7.9% of the outstanding
Shares.
WEO
Because of his position as a control person of SPO Advisory Corp., WEO
may, pursuant to Rule 13d-3 of the Act, be deemed to be the beneficial owner of
6,935,630 Shares, which constitutes approximately 7.9% of the outstanding
Shares.
WJP
Because of his position as a control person of SPO Advisory Corp., WJP
may, pursuant to Rule 13d-3 of the Act, be deemed to be the beneficial owner of
6,935,630 Shares, which constitutes approximately 7.9% 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.
(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 6,531,500
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 6,531,500
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 404,130
Shares.
Page 11 of 18 pages
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 404,130 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 6,935,630 Shares in the aggregate.
JHS
As one of three 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 WEO and WJP to vote or to direct the
vote and to dispose or to direct the disposition of 6,935,630 Shares held by
SPO and SFP in the aggregate.
WEO
As one of three controlling persons of SPO Advisory Corp., which is the
sole general partner of each of SPO Advisory Partners and SF Advisory Partners,
WEO may be deemed to have shared power with JHS and WJP to vote or to direct the
vote and to dispose or to direct the disposition of 6,935,630 Shares held by
SPO and SFP in the aggregate.
WJP
As one of three controlling persons of SPO Advisory Corp., which is the
sole general partner of each of SPO Advisory Partners and SF Advisory Partners,
WJP may be deemed to have shared power with JHS and WEO to vote or to direct the
vote and to dispose or to direct the disposition of 6,935,630 Shares held by
SPO and SFP in the aggregate.
(c) Within the past 60 days of the date of this statement, Reporting
Persons purchased Shares in open market transactions on the Nasdaq National
Market 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 during the past 60 days.
(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 12 of 18 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 May 10, 2006 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 II, L.P.(1)
SF ADVISORY PARTNERS, L.P.(1)
SPO ADVISORY CORP.(1)
JOHN H. SCULLY(1)
WILLIAM E. OBERNDORF(1)
WILLIAM J. PATTERSON(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 13 of 18 pages
SCHEDULE I TO
SCHEDULE 13D FOR SPO PARTNERS II, L.P.
DATE OF PRICE PER WHERE/HOW
REPORTING PERSON TRANSACTION TYPE NUMBER OF SHARES SHARE ($) TRANSACTION EFFECTED
--------------------------- ----------- ---- ---------------- --------- --------------------
SPO Partners II, L.P. 5/1/2006 Buy 400 54.40 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 19,154 54.41 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 400 54.42 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 46 54.43 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 11,728 54.44 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 5,000 54.45 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 699 54.46 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 1,102 54.47 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 245 54.49 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 20,566 54.52 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 6,698 54.53 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 7,402 54.54 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 51 54.60 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 341 54.62 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 700 54.63 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 2,100 54.64 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 11,068 54.65 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 4,000 54.70 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 100 54.72 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 1,100 54.73 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 3,400 54.74 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 1,200 54.75 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 200 54.76 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 100 54.77 Open Market/Broker
SPO Partners II, L.P. 5/1/2006 Buy 2,200 54.79 Open Market/Broker
SPO Partners II, L.P. 5/2/2006 Buy 500 54.45 Open Market/Broker
SPO Partners II, L.P. 5/2/2006 Buy 500 54.46 Open Market/Broker
SPO Partners II, L.P. 5/2/2006 Buy 133 54.49 Open Market/Broker
SPO Partners II, L.P. 5/2/2006 Buy 867 54.50 Open Market/Broker
Page 14 of 18 pages
SCHEDULE I TO
SCHEDULE 13D FOR SPO PARTNERS II, L.P.
DATE OF PRICE PER WHERE/HOW
REPORTING PERSON TRANSACTION TYPE NUMBER OF SHARES SHARE ($) TRANSACTION EFFECTED
--------------------------- ----------- ---- ---------------- --------- --------------------
SPO Partners II, L.P. 5/2/2006 Buy 2,000 54.60 Open Market/Broker
SPO Partners II, L.P. 5/2/2006 Buy 517 54.90 Open Market/Broker
SPO Partners II, L.P. 5/2/2006 Buy 2,000 54.99 Open Market/Broker
SPO Partners II, L.P. 5/2/2006 Buy 2,000 55.00 Open Market/Broker
SPO Partners II, L.P. 5/2/2006 Buy 1,000 55.20 Open Market/Broker
SPO Partners II, L.P. 5/2/2006 Buy 200 55.24 Open Market/Broker
SPO Partners II, L.P. 5/2/2006 Buy 783 55.26 Open Market/Broker
SPO Partners II, L.P. 5/2/2006 Buy 1,000 55.30 Open Market/Broker
SPO Partners II, L.P. 5/3/2006 Buy 1,000 54.75 Open Market/Broker
SPO Partners II, L.P. 5/3/2006 Buy 14,400 54.85 Open Market/Broker
SPO Partners II, L.P. 5/3/2006 Buy 51 54.86 Open Market/Broker
SPO Partners II, L.P. 5/3/2006 Buy 3,949 54.87 Open Market/Broker
SPO Partners II, L.P. 5/3/2006 Buy 3,527 54.88 Open Market/Broker
SPO Partners II, L.P. 5/3/2006 Buy 1,361 54.89 Open Market/Broker
SPO Partners II, L.P. 5/3/2006 Buy 49,140 54.90 Open Market/Broker
SPO Partners II, L.P. 5/3/2006 Buy 2,100 54.92 Open Market/Broker
SPO Partners II, L.P. 5/3/2006 Buy 400 54.93 Open Market/Broker
SPO Partners II, L.P. 5/3/2006 Buy 2,500 54.94 Open Market/Broker
SPO Partners II, L.P. 5/3/2006 Buy 7,334 54.95 Open Market/Broker
SPO Partners II, L.P. 5/3/2006 Buy 196 54.96 Open Market/Broker
SPO Partners II, L.P. 5/3/2006 Buy 4,500 54.97 Open Market/Broker
SPO Partners II, L.P. 5/3/2006 Buy 5,100 54.98 Open Market/Broker
SPO Partners II, L.P. 5/3/2006 Buy 100 54.99 Open Market/Broker
SPO Partners II, L.P. 5/3/2006 Buy 34,342 55.00 Open Market/Broker
SPO Partners II, L.P. 5/4/2006 Buy 900 54.90 Open Market/Broker
SPO Partners II, L.P. 5/4/2006 Buy 100 54.94 Open Market/Broker
SPO Partners II, L.P. 5/4/2006 Buy 15,000 55.00 Open Market/Broker
SPO Partners II, L.P. 5/5/2006 Buy 2,966 54.98 Open Market/Broker
SPO Partners II, L.P. 5/5/2006 Buy 1,034 55.00 Open Market/Broker
Page 15 of 18 pages
SCHEDULE I TO
SCHEDULE 13D FOR SPO PARTNERS II, L.P.
DATE OF PRICE PER WHERE/HOW
REPORTING PERSON TRANSACTION TYPE NUMBER OF SHARES SHARE ($) TRANSACTION EFFECTED
--------------------------- ----------- ---- ---------------- --------- --------------------
SPO Partners II, L.P. 5/8/2006 Buy 902 55.53 Open Market/Broker
SPO Partners II, L.P. 5/8/2006 Buy 2,000 55.56 Open Market/Broker
SPO Partners II, L.P. 5/8/2006 Buy 200 55.57 Open Market/Broker
SPO Partners II, L.P. 5/8/2006 Buy 500 55.58 Open Market/Broker
SPO Partners II, L.P. 5/8/2006 Buy 3,095 55.60 Open Market/Broker
SPO Partners II, L.P. 5/8/2006 Buy 6,464 55.64 Open Market/Broker
SPO Partners II, L.P. 5/8/2006 Buy 399 55.65 Open Market/Broker
SPO Partners II, L.P. 5/8/2006 Buy 1,000 55.66 Open Market/Broker
SPO Partners II, L.P. 5/8/2006 Buy 4,022 55.67 Open Market/Broker
SPO Partners II, L.P. 5/8/2006 Buy 306 55.73 Open Market/Broker
SPO Partners II, L.P. 5/8/2006 Buy 100 55.75 Open Market/Broker
SPO Partners II, L.P. 5/8/2006 Buy 10,602 55.80 Open Market/Broker
SPO Partners II, L.P. 5/8/2006 Buy 310 55.85 Open Market/Broker
SPO Partners II, L.P. 5/8/2006 Buy 230 55.99 Open Market/Broker
SPO Partners II, L.P. 5/8/2006 Buy 32,590 56.00 Open Market/Broker
SPO Partners II, L.P. 5/8/2006 Buy 26,000 56.20 Open Market/Broker
SPO Partners II, L.P. 5/8/2006 Buy 2,000 56.25 Open Market/Broker
SPO Partners II, L.P. 5/8/2006 Buy 9,180 56.25 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 5,000 55.04 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 5,000 55.05 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 1,000 55.06 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 1,200 55.18 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 2,900 55.20 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 1,401 55.20 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 2,611 55.23 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 515 55.23 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 2,988 55.29 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 600 55.32 Open Market/Broker
Page 16 of 18 pages
SCHEDULE I TO
SCHEDULE 13D FOR SPO PARTNERS II, L.P.
DATE OF PRICE PER WHERE/HOW
REPORTING PERSON TRANSACTION TYPE NUMBER OF SHARES SHARE ($) TRANSACTION EFFECTED
--------------------------- ----------- ---- ---------------- --------- --------------------
SPO Partners II, L.P. 5/9/2006 Buy 700 55.48 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 2,130 55.49 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 10,000 55.50 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 32,485 55.50 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 3,900 55.52 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 1,100 55.59 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 3,300 55.63 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 3,100 55.71 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 1,600 55.73 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 700 55.85 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 2,270 55.89 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 521 55.91 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 400 55.93 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 5,000 55.97 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 2,397 55.98 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 3,082 55.98 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 1,400 55.99 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 2,300 55.99 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 400 56.00 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 1,668 56.05 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 3,032 56.11 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 2,583 56.11 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 2,500 56.13 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 1,300 56.14 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 900 56.15 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 5,000 56.18 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 5,000 56.20 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 317 56.20 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 1,100 57.18 Open Market/Broker
SPO Partners II, L.P. 5/9/2006 Buy 8,101 57.20 Open Market/Broker
Page 17 of 18 pages
SCHEDULE I TO
SCHEDULE 13D FOR SPO PARTNERS II, L.P.
DATE OF PRICE PER WHERE/HOW
REPORTING PERSON TRANSACTION TYPE NUMBER OF SHARES SHARE ($) TRANSACTION EFFECTED
--------------------------- ----------- ---- ---------------- --------- --------------------
SPO Partners II, L.P. 5/9/2006 Buy 2,899 57.25
SPO Partners II, L.P. 5/9/2006 Buy 19,339 57.84
SPO Partners II, L.P. 5/9/2006 Buy 5,000 57.88
SPO Partners II, L.P. 5/9/2006 Buy 10,000 57.95
SPO Partners II, L.P. 5/9/2006 Buy 10,000 57.99
SPO Partners II, L.P. 5/9/2006 Buy 5,000 58.00
SPO Partners II, L.P. 5/9/2006 Buy 10,000 58.00
SPO Partners II, L.P. 5/9/2006 Buy 3,525 58.00
SPO Partners II, L.P. 5/9/2006 Buy 30,318 58.00
SPO Partners II, L.P. 5/9/2006 Buy 9,200 58.01
SPO Partners II, L.P. 5/9/2006 Buy 8,693 58.02
SPO Partners II, L.P. 5/9/2006 Buy 992 58.03
SPO Partners II, L.P. 5/9/2006 Buy 1,699 58.04
SPO Partners II, L.P. 5/9/2006 Buy 5,834 58.05
SPO Partners II, L.P. 5/9/2006 Buy 400 58.07
SPO Partners II, L.P. 5/9/2006 Buy 5,600 58.08
Page 18 of 18 pages
EXHIBIT INDEX
EXHIBIT DOCUMENT DESCRIPTION PAGE NO.
------- -------------------- --------
A Agreement Pursuant to Rule 13d-1 (k) 1