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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)
Black Warrior Wireline Corp.
(Name of Issuer)
Common Stock
- -----------------------------------------------------------------
- ----------
(Title of Class of Securities)
092260306
(CUSIP Number)
Christopher J. Rupright, Esq.
Shartsis Friese & Ginsburg LLP
One Maritime Plaza, 18th Floor
San Francisco, CA 94111
(415) 421-6500
- -----------------------------------------------------------------
- ----------
(Name, Address and Telephone Number of Person Authorized to Receive
Notices
and Communications)
March 10, 1998
(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 / /.
Check the following box if a fee is being paid with the statement
/ /. (A
fee is not required only if the reporting person: (1) has a
previous
statement on file reporting beneficial ownership of more than five
percent of
the class of securities described in Item 1; and (2) has filed no
amendment
subsequent thereto reporting beneficial ownership of five percent
or less of
such class.) (See Rule 13d-7.)
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 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).
SEC
1746 (12-91)
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 092260306 Page 2 of 11
Pages
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- ----------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Westcliff Capital Management, LLC
- -----------------------------------------------------------------
- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
/ X /
(b)
/ /
- -----------------------------------------------------------------
- ----------
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)
/ /
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- ----------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
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- ----------
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY
- --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 136,000
REPORTING
- --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
136,000
- -----------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
136,000
- -----------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
/ /
- -----------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0
- -----------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON*
OO and IA
- -----------------------------------------------------------------
- ----------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS
1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 092260306 Page 3 of 11
Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Richard S. Spencer III
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)/X
/
(b)/ /
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- ----------
3 SEC USE ONLY
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- ----------
4 SOURCE OF FUNDS*
AF and PF
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- ----------
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
- -----------------------------------------------------------------
- ----------
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY
- --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 136,000
REPORTING
- --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
136,000
- -----------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
136,000
- -----------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
/ /
- -----------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0
- -----------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON*
IN
- -----------------------------------------------------------------
- ----------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS
1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 092260306 Page 4 of 11
Pages
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- ----------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
David R. Korus
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- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
/X /
(b)
/ /
- -----------------------------------------------------------------
- ----------
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
California
- -----------------------------------------------------------------
- ----------
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY
- --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 136,000
REPORTING
- --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
136,000
- -----------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
136,000
- -----------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
/ /
- -----------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0
- -----------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON*
IN
- -----------------------------------------------------------------
- ----------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS
1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 092260306 Page 5 of 11
Pages
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- ----------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Westcliff, LLC
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- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
/ X /
(b)
/ /
- -----------------------------------------------------------------
- ----------
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
California
- -----------------------------------------------------------------
- ----------
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY
- --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 136,000
REPORTING
- --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
136,000
- -----------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
136,000
- -----------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
/ /
- -----------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0
- -----------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON*
OO
- -----------------------------------------------------------------
- ----------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS
1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 092260306 Page 6 of 11
Pages
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- ----------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Westcliff Partners SA, L.P.
- -----------------------------------------------------------------
- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
/ X /
(b)
/ /
- -----------------------------------------------------------------
- ----------
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
California
- -----------------------------------------------------------------
- ----------
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY
- --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 12,300
REPORTING
- --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
12,300
- -----------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,300
- -----------------------------------------------------------------
- ----------
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
- -----------------------------------------------------------------
- ----------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS
1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 092260306 Page 7 of 11
Pages
- -----------------------------------------------------------------
- ----------
1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Westcliff Partners, L.P.
- -----------------------------------------------------------------
- ----------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
/X /
(b)
/ /
- -----------------------------------------------------------------
- ----------
3 SEC USE ONLY
- -----------------------------------------------------------------
- ----------
4 SOURCE OF FUNDS*
WC
- -----------------------------------------------------------------
- ----------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO
ITEMS 2(d) or 2(E)
/ /
- -----------------------------------------------------------------
- ----------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- -----------------------------------------------------------------
- ----------
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY
- --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 123,700
REPORTING
- --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
- --------------------------------------------------
10 SHARED DISPOSITIVE POWER
123,700
- -----------------------------------------------------------------
- ----------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
123,700
- -----------------------------------------------------------------
- ----------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
/ /
- -----------------------------------------------------------------
- ----------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.5
- -----------------------------------------------------------------
- ----------
14 TYPE OF REPORTING PERSON*
PN
- -----------------------------------------------------------------
- ----------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS
1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 092260306 Page 8 of 11
Pages
ITEM 1. SECURITY AND ISSUER.
This statement relates to the common stock (the "Stock") of Black
Warrior
Wireline Corp. ("BWW"). The principal executive office of BWW is
located at
3748 Highway 45 North, Columbus, MS 39701.
ITEM 2. IDENTITY AND BACKGROUND.
The persons filing this statement (the "Reporting Persons") and the
persons
enumerated in Instruction C of Schedule 13D and, where applicable,
their
respective places of organization, general partners, directors,
executive
officers and controlling persons, and the information regarding
them, are as
follows:
(a) Westcliff Capital Management, LLC, a California limited
liability
company ("WCM"); Westcliff, LLC ("WL"), Westcliff Partners,
L.P., a
California limited partnership ("WP") Westcliff Partners SA,
L.P., a
California limited partnership ("WPSA"); Richard S. Spencer
III
("Spencer"); and David R. Korus ("Korus").
(b) The business address of WCM, WL, WP, WPSA and Spencer is 200
Seventh
Avenue, Suite 105, Santa Cruz, California 95062. The business
address
of Korus is 152 W. 57th Street, New York, New York 10019.
(c) WCM is the investment adviser to and a general partner of WP
and WPSA,
which are investment limited partnerships. WL is a general
partner of
WP and WPSA. Spencer and Korus are the sole managers of WCM
and WL.
(d) During the last five years, none of such persons has been
convicted in
a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) During the last five years, none of such persons was 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.
(f) Spencer and Korus are citizens of the United States of
America.
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 092260306 Page 9 of 11
Pages
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The source and amount of funds used in purchasing the Stock were as
follows:
Purchaser Source of Funds Amount
WCM Funds Under Management(1) $978,113.06
WP Working Capital $889,577.66
WPSA Working Capital $ 88,835.40
(1) Consists of funds of WP and WPSA invested in the Stock.
ITEM 4. PURPOSE OF TRANSACTION.
The Reporting Persons have acquired the Stock solely for investment
purposes.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The beneficial ownership of the Stock of the persons named in Item
2 of this
statement is as follows at the date hereof:
Aggregate
Beneficially
Owned Voting Power Dispositive
Power
Name Number Percent Sole Shared Sole
Shared
WCM 136,000 6.0 -0- 136,000 -0-
136,000
WP 123,700 5.5 -0- 123,700 -0-
123,700
WPSA 12,300 0.5 -0- 12,300 -0-
12,300
WL 123,700 5.5 -0- 123,700 -0-
123,700
Spencer 136,000 6.0 -0- 136,000 -0-
136,000
Korus 136,000 6.0 -0- 136,000 -0-
136,000
The persons filing this statement effected the following
transactions in the
Stock on the dates indicated, and such transactions are the only
transactions
in the Stock by the persons filing this statement since November
28, 1997.
Purchase Number Price
Name or Sale Date of Shares Per Share
WCM S 01-02-98 12,300 7.18
WPSA P 01-02-98 12,300 7.20
WP S 02-18-98 5,000 7.50
WP S 02-19-98 5,000 7.00
WP S 02-26-98 5,000 7.00
WP S 03-04-98 5,000 6.50
WP S 03-10-98 2,500 6.50
WP S 03-13-98 5,000 6.37
All transactions were executed over the counter.
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 092260306 Page 10 of
11 Pages
ITEM. 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH
RESPECT TO SECURITIES OF THE ISSUER.
WCM and WL are the general partners of WP and WPSA pursuant to
limited
partnership agreements providing to WCM the authority, among other
things, to
invest the funds of WP and WPSA in the Stock, to vote and dispose
of the
Stock and to file this statement on behalf of WP and WPSA.
Pursuant to such
limited partnership agreement, the general partners of WP and WPSA
are
entitled to allocations based on assets under management and
realized and
unrealized gains, under certain conditions.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
A. Agreement Regarding Joint Filing of Statement on Schedule 13D
or 13G.
SIGNATURES
After reasonable inquiry and to the best of my knowledge, I
certify that
the information set forth in this statement is true, complete and
correct.
DATED: March 20, 1998
WESTCLIFF PARTNERS SA, L.P.
By: Westcliff Capital Management, LLC David R. Korus
General Partner
By: /s/ Richard S. Spencer
III
By: /s/ Richard S. Spencer III Richard S. Spencer
III,
Richard S. Spencer III Attorney-in-Fact
Manager
WESTCLIFF PARTNERS, L.P. /s/ Richard S. Spencer III
Richard S. Spencer III
By: Westcliff Capital Management, LLC David R. Korus
General Partner
By: /s/ Richard S. Spencer
III
By: /s/ Richard S. Spencer III Richard S. Spencer
III,
Richard S. Spencer III Attorney-in-Fact
Manager
WESTCLIFF CAPITAL
MANAGEMENT, LLC
By: /s/ Richard S. Spencer
III
Richard S. Spencer III
Manager
WESTCLIFF, LLC
By: /s/ Richard S. Spencer
III
Richard S. Spencer
Manager<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 092260306 Page 11 of
11 Pages
EXHIBIT
A
AGREEMENT REGARDING JOINT FILING
OF STATEMENT ON SCHEDULE 13D OR 13G
The undersigned agree to file jointly with the Securities and
Exchange
Commission (the "SEC") any and all statements on Schedule 13D or
Schedule 13G
(and any amendments or supplements thereto) required under section
13(d) of
the Securities Exchange Act of 1934, as amended, in connection with
purchases
by the undersigned of Common Stock of Black Warrior Wireline Corp.
For that
purpose, the undersigned hereby constitute and appoint Westcliff
Capital
Management, LLC, a California limited liability company, as their
true and
lawful agent and attorney-in-fact, with full power and authority
for and on
behalf of the undersigned to prepare or cause to be prepared, sign,
file with
the SEC and furnish to any other person all certificates,
instruments,
agreements and documents necessary to comply with section 13(d) and
section 16(a) of the Securities Exchange Act of 1934, as amended,
in
connection with said purchases, and to do and perform every act
necessary and
proper to be done incident to the exercise of the foregoing power,
as fully
as the undersigned might or could do if personally present.
DATED: March 20, 1998.
WESTCLIFF PARTNERS SA, L.P. /s/ Richard S. Spencer III
Richard S. Spencer III
By: Westcliff Capital Management, LLC David R. Korus
General Partner
By: /s/ Richard S. Spencer
III
By: /s/ Richard S. Spencer III Richard S. Spencer III
Richard S. Spencer III Attorney-in-Fact
Manager
WESTCLIFF PARTNERS, L.P. /s/ Richard S. Spencer III
Richard S. Spencer III
By: Westcliff Capital Management, LLC David R. Korus
General Partner
By: /s/ Richard S. Spencer
III
By: /s/ Richard S. Spencer III Richard S. Spencer III
Richard S. Spencer III Attorney-in-Fact
Manager
WESTCLIFF CAPITAL
MANAGEMENT, LLC
By: /s/ Richard S. Spencer
III
Richard S. Spencer III
Manager
WESTCLIFF, LLC
By: /s/ Richard S. Spencer
III
Richard S. Spencer
Manager
