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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
PETROLEUM HELICOPTERS INCORPORATED
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(Name of Issuer)
NON-VOTING COMMON STOCK, $0.10 PAR VALUE PER SHARE
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(Title of Class of Securities)
716604 10 3
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(CUSIP Number)
DECEMBER 31, 1998
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* 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 the disclosures provided in a prior cover page.
The information required in 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. 716604 10 3 13G Page 2 of 6 Pages
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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above
Persons (entities only)
WOODBOURNE PARTNERS, L.P.
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2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
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3 SEC Use Only
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4 Citizenship or Place of Organization
MISSOURI
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Number of 5 Sole Voting Power
Shares -0-
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Beneficially 6 Shared Voting Power
-0-
Owned by
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7 Sole Dispositive Power
Each
-0-
Reporting
---------------------------------------------------
8 Shared Dispositive Power
Person With
-0-
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
219,400
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10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions) [ ]
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11 Percent of Class Represented by Amount in Row (9)
9.3%
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12 Type of Reporting Person (See Instructions)
PN
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CUSIP No. 716604 10 3 13G Page 3 of 6 Pages
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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above
Persons (entities only)
CLAYTON MANAGEMENT COMPANY
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2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
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3 SEC Use Only
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4 Citizenship or Place of Organization
MISSOURI
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Number of 5 Sole Voting Power
Shares 219,400
---------------------------------------------------
Beneficially 6 Shared Voting Power
-0-
Owned by
---------------------------------------------------
7 Sole Dispositive Power
Each
219,400
Reporting
---------------------------------------------------
8 Shared Dispositive Power
Person With
-0-
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
219,400
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10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions) [ ]
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11 Percent of Class Represented by Amount in Row (9)
9.3%
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12 Type of Reporting Person (See Instructions)
CO
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CUSIP No. 716604 10 3 13G Page 4 of 6 Pages
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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above
Persons (entities only)
JOHN D. WEIL
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2 Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
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3 SEC Use Only
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4 Citizenship or Place of Organization
MISSOURI
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Number of 5 Sole Voting Power
Shares 219,400
---------------------------------------------------
Beneficially 6 Shared Voting Power
-0-
Owned by
---------------------------------------------------
7 Sole Dispositive Power
Each
219,400
Reporting
---------------------------------------------------
8 Shared Dispositive Power
Person With
-0-
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
219,400
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10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions) [ ]
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11 Percent of Class Represented by Amount in Row (9)
9.3%
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12 Type of Reporting Person (See Instructions)
IN
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CUSIP No. 716604 10 3 13G Page 5 of 6 Pages
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AMENDMENT NO. 1 TO SCHEDULE 13G
The Reporting Person reported the acquisition of shares of Non-Voting
Common Stock, par value $.10 per share ("Stock"), of Petroleum Helicopters
Incorporated, a Delaware corporation ("Issuer"), 113 Borman Drive, P.O. Box
23502, Lafayette, LA 70508, in an initial filing of this Schedule 13G on April
16, 1998. In this regard, Item 4 is hereby amended as follow. All other items
are unchanged from the initial filing.
ITEM 4. Ownership.
<TABLE>
<CAPTION>
WOODBOURNE CLAYTON WEIL
---------- ------- -------
(general partner (sole director and
of Woodbourne) shareholder of
Clayton)
<S> <C> <C> <C>
(a) Amount beneficially owned: 219,400 219,400 219,400
(b) Percent of Class: 9.3% 9.3% 9.3%
(c) Number of Shares as to which the person has:
(i) Sole power to vote or direct the vote: -0- 219,400 219,400
(ii) Shared power to vote or direct the vote: -0- -0- -0-
(iii) Sole power to dispose or to direct the
disposition of: -0- 219,400 219,400
(iv) Shared power to dispose or to direct the
disposition of: -0- -0- -0-
</TABLE>
ITEM 10. Certification.
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
Dated: February 16, 1999 WOODBOURNE PARTNERS, L.P.,
by its General Partner,
CLAYTON MANAGEMENT COMPANY
/s/ John D. Weil
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John D. Weil, President
Dated: February 16, 1999 CLAYTON MANAGEMENT COMPANY
/s/ John D. Weil
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John D. Weil, President
Dated: February 16, 1999 /s/ John D. Weil
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John D. Weil
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CUSIP No. 716604 10 3 13G Page 6 of 6 Pages
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EXHIBIT A TO SCHEDULE 13G
AGREEMENT PURSUANT TO RULE 13d-1(k)(1)
The undersigned persons, on February 16, 1999, agree and consent to the
joint filing on their behalf of this Schedule 13G in connection with their
beneficial ownership of the Stock of Petroleum Helicopters Incorporated.
WOODBOURNE PARTNERS, L.P.,
by its General Partner,
CLAYTON MANAGEMENT COMPANY
/s/ John D. Weil
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John D. Weil, President
CLAYTON MANAGEMENT COMPANY
/s/ John D. Weil
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John D. Weil, President
/s/ John D. Weil
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John D. Weil