UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
United Meridian Corporation
(Name of Issuer)
Common Stock
(Title of Class of Securities)
910865104
(CUSIP Number)
Jonathan Green, Esq.
Appaloosa Management L.P.
51 John F. Kennedy Parkway
Short Hills, New Jersey 07078
(201) 376-5400
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 19, 1997
(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
Rule 13d-1 (b)(3) or (4), check the following box .
Note: Six copies of this statement, including all exhibits,
should be filed with the Commission. See Rule 13d-1(a) 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 disclosure
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).
Exhibit Index: Page 7
Page 1 of 8 Pages<PAGE>
SCHEDULE 13D
CUSIP No.910865104 Page 2 of 8 Pages
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Appaloosa Management L.P.
2 Check the Appropriate Box If a Member of a Group*
a.
b. X
3 SEC Use Only
4 Source of Funds*
AF
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 of1,666,800
Shares
Beneficially 8 Shared Voting Power
Owned By-0-
Each
Reporting 9 Sole Dispositive Power
Person1,666,800
With
10 Shared Dispositive Power
-0-
11 Aggregate Amount Beneficially Owned by Each Reporting
Person
1,666,800
12 Check Box If the Aggregate Amount in Row (11) Excludes
Certain Shares*
13 Percent of Class Represented By Amount in Row (11)
4.68%
14 Type of Reporting Person*
PN
*SEE INSTRUCTIONS BEFORE FILLING OUT!<PAGE>
SCHEDULE 13D
CUSIP No.910865104 Page 3 of 8 Pages
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
David A. Tepper
2 Check the Appropriate Box If a Member of a Group*
a.
b. X
3 SEC Use Only
4 Source of Funds*
AF
5 Check Box If Disclosure of Legal Proceedings Is
Required Pursuant to Items 2(d) or 2(e)
6 Citizenship or Place of Organization
United States
7 Sole Voting Power
Number of1,666,800
Shares
Beneficially 8 Shared Voting Power
Owned By-0-
Each
Reporting 9 Sole Dispositive Power
Person1,666,800
With
10 Shared Dispositive Power
-0-
11 Aggregate Amount Beneficially Owned by Each Reporting
Person
1,666,800
12 Check Box If the Aggregate Amount in Row (11) Excludes
Certain Shares*
13 Percent of Class Represented By Amount in Row (11)
4.68%
14 Type of Reporting Person*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
This Amendment No. 1 to the statement on Schedule 13D
filed on behalf of Appaloosa Management L.P. (the "Manager")
and David A. Tepper ("Mr. Tepper" and together with the
Manager, collectively, the "Reporting Persons") on February
6, 1997 (the "Schedule 13D"), relates to the common stock of
United Meridian Corporation (the "Company"). Capitalized
terms used but not otherwise defined herein shall have the
meanings ascribed to such terms in the Schedule 13D. The
Schedule 13D is hereby amended and supplemented as follows:
Item 2.Identity and Background
This statement on Schedule 13D is being filed by
Appaloosa Management L.P., a Delaware limited partnership
(the "Manager"), and David A. Tepper ("Mr. Tepper", and
together with the Manager, the "Reporting Persons"). A copy
of the Joint Filing Agreement between the Reporting Persons
is annexed hereto as Exhibit A and incorporated by reference
herein.
The general partner of the Manager is Appaloosa
Partners Inc., a Delaware corporation, of which Mr. Tepper
is the sole stockholder, sole director and President. The
other executive officers of Appaloosa Partners Inc. are:
Ronald M. Goldstein -- Chief Financial Officer and Vice
President; James E. Bolin -- Vice President and Secretary;
and Lawrence P. O'Friel -- Treasurer (Messrs. Goldstein,
Bolin and O'Friel referred to herein collectively as the
"Related Persons").
The Manager acts as general partner and/or investment
adviser to certain investment partnerships, investment funds
and managed accounts (collectively, the "Accounts"). The
address of the principal business and principal office of the
Manager is 51 John F. Kennedy Parkway, Short Hills, New
Jersey 07078. The business address of Messrs. Tepper,
Goldstein, Bolin and O'Friel is 51 John F. Kennedy Parkway,
Short Hills, New Jersey 07078. The present principal
occupations or employments of Messrs. Tepper, Goldstein,
Bolin and O'Friel are as officers of Appaloosa Partners Inc.
and employees of the Manager.
During the last five years, none of the Reporting
Persons or the Related Persons has been convicted in a
criminal proceeding (excluding traffic violations or similar
misdemeanors) or was a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction
resulting in 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. Messrs. Tepper,
Goldstein, Bolin and O'Friel are citizens of the United
States.
Item 5.Interest in Securities of the Issuer
Since the filing of the Schedule 13D, on February 6,
1997, the Reporting Persons sold, on behalf of the Accounts,
in the net aggregate, 366,500 Shares in the open market.
(a) This statement on Schedule 13D relates to 1,666,800
Shares beneficially owned by the Reporting Persons,
which constitute approximately 4.68% of the issued and
outstanding Shares.
(b) The Manager has sole voting and dispositive power with
respect to 1,666,800 Shares. Mr. Tepper has sole
voting and dispositive power with respect to 1,666,800
Shares.
(c) During the 60-day period prior to the date hereof, the
Reporting Persons purchased and sold Shares, on behalf
of the Accounts, on the dates, in the amounts and at
the prices set forth on Exhibit B annexed hereto and
incorporated by reference herein. All of such
purchases and sales were made on the open market.
(d) Not applicable.
(e)Not applicable.
<PAGE>
Item 7.Material to Be Filed as Exhibits
Exhibit A: Joint Filing Agreement
Exhibit B: Transactions in Shares by the
Reporting Persons in the Last 60 Days
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: August 21, 1997
Appaloosa Management L.P.
By:Appaloosa Partners Inc.,
Its General Partner
By:/s/ David A. Tepper
David A. Tepper
President
David A. Tepper
/s/ David A. Tepper <PAGE>
EXHIBIT INDEX
Exhibit
Exhibit Name
Page
A
Joint Filing
Agreement
[Incorporated by
Reference to
Exhibit A to the
Schedule 13D
filed on behalf
of the Reporting
Persons on
February 6, 1997]
B
Transactions in
Shares by the
Reporting Persons
in the Last 60
Days
8
<PAGE>
EXHIBIT B
Transactions in Shares by the
Reporting Persons in the Last 60 Days
Shares
Price
Purchased (+) /
per
Trade Date
Sold (-)
Share
06/25/97
- -5,000
31.164
06/26/97
- -5,000
31.814
06/27/97
- -5,700
31.939
06/30/97
- -5,000
30.864
07/01/97
- -5,000
30.564
07/02/97
- -5,000
31.739
07/03/97
- -5,000
33.026
07/07/97
- -7,500
32.114
07/08/97
- -10,000
31.158
07/09/97
- -29,200
30.661
07/09/97
- -15,000
30.165
07/10/97
- -69,000
29.939
07/11/97
5,000
31.060
07/11/97
- -25,000
30.867
07/14/97
- -10,000
30.677
07/15/97
- -10,000
30.136
07/16/97
- -10,000
30.124
07/17/97
- -20,000
31.669
07/21/97
- -10,000
31.002
07/23/97
- -10,000
32.689
07/24/97
- -10,000
31.494
07/25/97
- -10,000
31.499
07/28/97
- -10,000
31.814
07/29/97
- -10,000
31.800
07/31/97
- -2,000
31.939
08/01/97
- -10,000
31.939
08/04/97
- -15,300
32.602
08/05/97
- -10,000
34.439
08/06/97
- -10,000
36.439
08/07/97
- -10,000
37.939
08/12/97
- -10,000
37.439
08/13/97
- -10,000
36.939
08/14/97
- -10,000
36.439
08/15/97
- -10,000
35.689
08/18/97
- -10,000
36.939
08/19/97
- -22,500
38.230
08/20/97
- -20,000
38.701
08/20/97
- -700
38.751
