Securities and Exchange Commission
                             Washington, D.C. 20549

                                    FORM 8-K

                                 Current Report
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

                Date of Report (Date of earliest event reported)
                                OCTOBER 30, 1998

                          BLACK WARRIOR WIRELINE CORP.
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

DELAWARE                                0-18754                      11-2904094
--------------------------------------------------------------------------------
(State or other jurisdiction   (Commission File Number)           (IRS Employer
of incorporation)                                           Identification No.)

               3748 HIGHWAY 45 NORTH, COLUMBUS, MISSISSIPPI 39701
--------------------------------------------------------------------------------
                    (Address of principal executive offices)

       Registrant's telephone number, including area code: (601) 329-1047
--------------------------------------------------------------------------------
          (Former name or former address, if changed since last report)


<PAGE>



ITEM 5. OTHER EVENTS.

     Fleet Capital Corporation - Amended and Restated Loan Agreement

     On October 30, 1998, the Company  entered into an Amended and Restated Loan
and Security  Agreement  (the  "Amended  Credit  Facility")  with Fleet  Capital
Corporation  ("Fleet")  which amended and restated the Credit  Facility  entered
into with Fleet on March 16, 1998.  Reference is made to the  Company's  Current
Report on Form 8-K for March 16,  1998  which  contained  a  description  of the
Credit  Facility.  Under the terms of the Amended Credit  Facility,  any and all
defaults or events of default  which  occurred  under the prior Credit  Facility
were waived.

     Pursuant to the  Amended  Credit  Facility,  the Company is able to borrow,
subject to meeting certain lending  conditions,  a total of approximately  $18.3
million. Of such amount, up to $8.0 million subject to certain limitations, is a
revolving  credit  loan  (the  "Revolving  Credit  Loan"),  $8.25  million  is a
refinancing  of  the  outstanding  term  loan,   approximately   $345,000  is  a
refinancing of  outstanding  equipment  loans,  $490,000 is a refinancing of the
loan used to finance  the Petro  Wireline  Acquisition,  $600,000 is a term loan
advanced on October 30, 1998, the proceeds of which were specified to be used to
repay  suppliers  for goods and  services  and to make  interest  payments on an
outstanding  note of the  Company  in the  amount  of  $3.0  million  issued  in
connection with the acquisition of Diamondback  Drilling Inc. (the  "Diamondback
Note"),  and $600,000 is available to be borrowed subject to the Company meeting
certain  conditions  precedent.  Except for the Revolving Credit Loan, all other
borrowings  (the  "Term  Loan")  are due to be  repaid in  monthly  installments
commencing  November 1, 1998, with all  outstanding  balances due and payable on
March 15, 2001. Interest on the Amended Credit Facility is equal to Fleet's base
rate plus 1.0% on the  Revolving  Line and  Fleet's  base rate plus 1.25% on the
other  borrowings under the Amended Credit  Facility.  To the extent  borrowings
under  the  Revolving  Credit  Loan are less  than the  amount  available  to be
borrowed,  the Company is obligated to pay a commitment fee of 0.5% per month on
the unborrowed amount. In addition,  the Company is obligated to pay a quarterly
collateral  administration  fee of $5,000 and a restructuring fee of $50,000 due
March 31, 1999. Amounts repaid under the Term Loan cannot be reborrowed.

     Among other conditions to the closing under the Amended Credit Facility was
a requirement  that a third party loan $750,000 to the Company,  subordinated to
the  Company's  indebtedness  to  Fleet,  subject  to  certain  exceptions.  The
additional  $600,000  loan by Fleet to the  Company is also  conditioned,  among
other things, on an





                                       2
<PAGE>



additional  $750,000  loan to the Company,  also  subordinated  to the Company's
indebtedness to Fleet, subject to certain exceptions. See St. James Transaction,
below, for a description of the Company's  agreement with SJMB, L.P., whereby it
agreed to make these loans to the Company.

     The Amended  Credit  Facility  terminates  and,  subject to all  prepayment
obligations,  the outstanding  balance is due and payable on March 15, 2001. The
Amended Credit  Facility can be terminated by the Company prior thereto  without
prepayment penalty at any time through April 30, 1999, and thereafter subject to
a prepayment penalty, under certain circumstances,  declining from 2% during the
period May 1, 1999 through March 15, 2000 to 1% during the last year the Amended
Credit  Facility is  outstanding.  The Amended  Credit  Facility is secured by a
senior and prior lien against  substantially all the Company's real and personal
property,  including the assets acquired from Phoenix Drilling  Services,  Inc.,
subject to certain exceptions.

     The Amended Credit  Facility  includes a number of affirmative and negative
covenants  including  requirements  as to  providing  Fleet  with  access to the
Company's  facilities,  financial and other information,  a requirement that St.
James Capital Partners, L.P. and SJMB, LP (collectively "St. James") convert not
less than $4.9  million of  indebtedness  owed by the Company to St.  James into
capital stock of the Company no later than September 30, 1999,  restrictions  on
mergers,  consolidations,   acquisitions,  limitations  on  total  indebtedness,
restrictions  on  liens,  subject  to  certain  exceptions,  on its  properties,
restrictions on  transactions  with  affiliates and  stockholders,  prohibitions
against  the  payment of  dividends  and other  distributions  to  stockholders,
restrictions  on  capital  expenditures,  dispositions  of  assets  and sales of
subsidiary  stock,  among other  covenants.  Such  covenants  also  prohibit the
Company from making payments on the Diamondback Note, except that the Company is
permitted to pay interest  when due,  subject to certain  scheduled  payments of
overdue  interest,  and is  permitted  to make  principal  payments out of funds
derived from the issuance of capital stock or the issuance of subordinated debt.
The Company also is prohibited from making any payment with respect to the $15.4
million owing to St. James,  except that so long as no default  exists under the
Amended  Credit  Facility,  interest  may be paid in kind.  The  Amended  Credit
Facility  contains a number of  affirmative  covenants  requiring the Company to
maintain compliance with various financial matters, including the maintenance of
ratios  of  scheduled   principal   payments  to  adjusted  net  earnings   plus
depreciation  and  amortization  plus interest on subordinated  debt,  ratios of
EBITDA  (as  defined)  to  interest  expense  on  senior  debt,  ratios of total
indebtedness to tangible net worth, and certain levels of adjusted  tangible net
worth,  among other things.  Events of default under the Amended Credit Facility
include,  among other  things,  the failure to



                                       3
<PAGE>



pay principal and interest on the indebtedness under the Amended Credit Facility
when  due,  failure  to  pay  any  other   indebtedness  when  due,  making  any
misrepresentations  to  Fleet  in any  of  the  loan  documents,  breach  of the
covenants  contained  in the  Amended  Credit  Facility  or  defaults  under the
security  documents under the Amended Credit Facility,  defaults under the terms
of other  indebtedness,  adverse changes in the Company's financial condition or
prospects, insolvency and other bankruptcy proceedings, the failure of St. James
to own at least 55% of the Company's issued and outstanding  capital stock (on a
fully diluted basis) prior to a secondary offering of the Company's  securities,
or, pursuant to a secondary public offering of capital stock of the Company,  at
least 30% of the Company's  issued and  outstanding  capital  stock,  on a fully
diluted basis. In the event of a default under the Amended Credit  Facility,  at
the option of Fleet, all amounts  thereunder become  immediately due and payable
and  Fleet  would  have the  right as a  secured  lender  to  foreclose  against
substantially all of the Company's assets. In addition,  under the cross-default
provisions of the Amended Credit Facility, a default under other indebtedness of
the Company could result in a default under the Amended Credit Facility.

     Reference is made to the Amended and Restated  Loan and Security  Agreement
filed as an Exhibit hereto for a complete statement of its terms and conditions.

     St. James Transaction

     On October 30, 1998, the Company entered into an Agreement for Purchase and
Sale (the "Note  Purchase  Agreement")  with  SJMB,  L.P.  ("SJMB"),  a Delaware
limited  partnership  and an  affiliate  of St. James  Capital  Partners,  L.P.,
whereby  SJMB  agreed  to  purchase  and the  Company  agreed to sell up to $2.0
million  principal  amount of a convertible  promissory note (the "Note") due on
March 16, 2001.  Through  October 30, 1998,  the Company  borrowed $1.25 million
under the Note Purchase  Agreement and the balance of $750,000 is intended to be
borrowed.  Payment of principal  and interest on the Note is  collateralized  by
substantially all the assets of the Company, subject, however, to the terms of a
subordination  agreement  between SJMB and Fleet. The Note bears interest at 10%
per annum and is  convertible  into shares of the  Company's  Common  Stock at a
conversion  price of $2.25 per share,  subject to  anti-dilution  adjustment for
certain  issuances  of  securities  by the Company at prices per share of Common
Stock  less  than the  conversion  price  then in  effect,  in which  event  the
conversion price is reduced to the lower price at which such shares were issued.
Pursuant to the Note Purchase Agreement, the Company has agreed to issue to SJMB
for nominal consideration  warrants (the "Warrant") to purchase shares of Common
Stock  exercisable  at a price of $2.25  per  share,  subject  to  anti-dilution
adjustment  for



                                       4
<PAGE>



certain  issuances  of  securities  by the Company at prices per share of Common
Stock less than the exercise  price then in effect,  in which event the exercise
price is reduced to the lower  price at which such  shares  were  issued and the
number of shares issuable is adjusted upward.  St. James will be issued warrants
to purchase 666 shares of Common Stock for each $1,000  borrowed  under the Note
Purchase  Agreement,  or a maximum aggregate of warrants to purchase  1,333,333,
shares.  The shares  issuable  on  conversion  of the Note and  exercise  of the
Warrant have demand and piggy-back  registration rights under the Securities Act
of 1933.  The Note  Purchase  Agreement  grants St. James  certain  preferential
rights  to  provide  future  financings  to  the  Company,  subject  to  certain
exceptions.  The Note  contains  various  affirmative  and  negative  covenants,
including,  among  others,  a  prohibition  against the  Company  consolidating,
merging or entering  into a share  exchange  with another  person,  with certain
exceptions,  without the consent of St. James.  Events of default under the Note
include,  among  other  events,  (i) a default in the  payment of  principal  or
interest on the Note;  (ii) a default in the  performance of any covenant of the
Note Purchase Agreement or other agreement entered into in connection  therewith
and the failure to cure such default;  (iii) any  representation  or warranty of
the Company in the Note Purchase  Agreement or other  agreement  entered into in
connection  therewith  being  untrue in any  material  respect and such  default
remains  uncured;  (iv)  the  Company  defaults  in the  payment  when due or by
acceleration  of any other  indebtedness  having an aggregate  principal  amount
outstanding  in excess of  $100,000  and such  default  remains  uncured;  (v) a
judgment  for the payment of money in excess of $100,000 is entered  against the
Company; (vi) certain bankruptcy or insolvency  proceedings;  (vi) any person or
group of  persons  acquiring  40% or more of the voting  power of the  Company's
outstanding  shares who was not the owner as of October  30,  1998;  and (vii) a
merger of the Company with another  person,  its dissolution or liquidation or a
sale of all or substantially all its assets. A default under the SJMB note would
be a default under the notes issued to St. James Capital Partners,  L.P. in June
and October 1997 and in January 1998. SJMB will receive an origination fee of 2%
of the amount borrowed in connection with the transaction.



                                       5
<PAGE>



ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS.

          (a)  None required.

          (b)  None required.

          (c)  Exhibits:

               EXHIBIT NUMBER               DESCRIPTION OF DOCUMENT
               --------------   ------------------------------------------------

                    10.1        Amended   and   Restated   Loan  and   Security
                                Agreement  dated  October 30, 1998  between the
                                Company and Fleet Capital Corporation

                    10.2        Agreement   for  Purchase  and
                                Sale dated  October  30,  1998
                                between  the Company and SJMB,
                                L.P.

                    10.3        Promissory  Note dated  October 30, 1998 in the
                                principal  amount of $2.0 million issued by the
                                Company to SJMB, L.P.







                                       6
<PAGE>



                                   SIGNATURES

     Pursuant to the  requirements  of the  Securities and Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                                BLACK WARRIOR WIRELINE CORP.

Dated:  November 13, 1998                       By: /s/ William L. Jenkins
                                                   -----------------------------
                                                   William L. Jenkins, President
[{"type": "8-K", "sequence": "1", "description": "FORM 8-K", "secsgml_size_bytes": 14823}]
{"company-data": {"conformed-name": "BLACK WARRIOR WIRELINE CORP", "cik": "0000839871", "assigned-sic": "1389", "irs-number": "112904094", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-18754", "film-number": "98753200"}, "business-address": {"street1": "3748 HWY 45 N", "street2": "3748 HWY 45 N", "city": "COLUMBUS", "state": "MS", "zip": "39701", "phone": "6013291047"}, "mail-address": {"street1": "3748 HWY 45 N", "street2": "3748 HWY 45 N", "city": "COLUMBUS", "state": "MS", "zip": "39701"}, "former-company": {"former-conformed-name": "TELETEK LTD", "date-changed": "19890719"}}
Securities and Exchange Commission
                             Washington, D.C. 20549

                                    FORM 8-K

                                 Current Report
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

                Date of Report (Date of earliest event reported)
                                OCTOBER 30, 1998

                          BLACK WARRIOR WIRELINE CORP.
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

DELAWARE                                0-18754                      11-2904094
--------------------------------------------------------------------------------
(State or other jurisdiction   (Commission File Number)           (IRS Employer
of incorporation)                                           Identification No.)

               3748 HIGHWAY 45 NORTH, COLUMBUS, MISSISSIPPI 39701
--------------------------------------------------------------------------------
                    (Address of principal executive offices)

       Registrant's telephone number, including area code: (601) 329-1047
--------------------------------------------------------------------------------
          (Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS.

     Fleet Capital Corporation - Amended and Restated Loan Agreement

     On October 30, 1998, the Company  entered into an Amended and Restated Loan
and Security  Agreement  (the  "Amended  Credit  Facility")  with Fleet  Capital
Corporation  ("Fleet")  which amended and restated the Credit  Facility  entered
into with Fleet on March 16, 1998.  Reference is made to the  Company's  Current
Report on Form 8-K for March 16,  1998  which  contained  a  description  of the
Credit  Facility.  Under the terms of the Amended Credit  Facility,  any and all
defaults or events of default  which  occurred  under the prior Credit  Facility
were waived.

     Pursuant to the  Amended  Credit  Facility,  the Company is able to borrow,
subject to meeting certain lending  conditions,  a total of approximately  $18.3
million. Of such amount, up to $8.0 million subject to certain limitations, is a
revolving  credit  loan  (the  "Revolving  Credit  Loan"),  $8.25  million  is a
refinancing  of  the  outstanding  term  loan,   approximately   $345,000  is  a
refinancing of  outstanding  equipment  loans,  $490,000 is a refinancing of the
loan used to finance  the Petro  Wireline  Acquisition,  $600,000 is a term loan
advanced on October 30, 1998, the proceeds of which were specified to be used to
repay  suppliers  for goods and  services  and to make  interest  payments on an
outstanding  note of the  Company  in the  amount  of  $3.0  million  issued  in
connection with the acquisition of Diamondback  Drilling Inc. (the  "Diamondback
Note"),  and $600,000 is available to be borrowed subject to the Company meeting
certain  conditions  precedent.  Except for the Revolving Credit Loan, all other
borrowings  (the  "Term  Loan")  are due to be  repaid in  monthly  installments
commencing  November 1, 1998, with all  outstanding  balances due and payable on
March 15, 2001. Interest on the Amended Credit Facility is equal to Fleet's base
rate plus 1.0% on the  Revolving  Line and  Fleet's  base rate plus 1.25% on the
other  borrowings under the Amended Credit  Facility.  To the extent  borrowings
under  the  Revolving  Credit  Loan are less  than the  amount  available  to be
borrowed,  the Company is obligated to pay a commitment fee of 0.5% per month on
the unborrowed amount. In addition,  the Company is obligated to pay a quarterly
collateral  administration  fee of $5,000 and a restructuring fee of $50,000 due
March 31, 1999. Amounts repaid under the Term Loan cannot be reborrowed.

     Among other conditions to the closing under the Amended Credit Facility was
a requirement  that a third party loan $750,000 to the Company,  subordinated to
the  Company's  indebtedness  to  Fleet,  subject  to  certain  exceptions.  The
additional  $600,000  loan by Fleet to the  Company is also  conditioned,  among
other things, on an

                                       2
additional  $750,000  loan to the Company,  also  subordinated  to the Company's
indebtedness to Fleet, subject to certain exceptions. See St. James Transaction,
below, for a description of the Company's  agreement with SJMB, L.P., whereby it
agreed to make these loans to the Company.

     The Amended  Credit  Facility  terminates  and,  subject to all  prepayment
obligations,  the outstanding  balance is due and payable on March 15, 2001. The
Amended Credit  Facility can be terminated by the Company prior thereto  without
prepayment penalty at any time through April 30, 1999, and thereafter subject to
a prepayment penalty, under certain circumstances,  declining from 2% during the
period May 1, 1999 through March 15, 2000 to 1% during the last year the Amended
Credit  Facility is  outstanding.  The Amended  Credit  Facility is secured by a
senior and prior lien against  substantially all the Company's real and personal
property,  including the assets acquired from Phoenix Drilling  Services,  Inc.,
subject to certain exceptions.

     The Amended Credit  Facility  includes a number of affirmative and negative
covenants  including  requirements  as to  providing  Fleet  with  access to the
Company's  facilities,  financial and other information,  a requirement that St.
James Capital Partners, L.P. and SJMB, LP (collectively "St. James") convert not
less than $4.9  million of  indebtedness  owed by the Company to St.  James into
capital stock of the Company no later than September 30, 1999,  restrictions  on
mergers,  consolidations,   acquisitions,  limitations  on  total  indebtedness,
restrictions  on  liens,  subject  to  certain  exceptions,  on its  properties,
restrictions on  transactions  with  affiliates and  stockholders,  prohibitions
against  the  payment of  dividends  and other  distributions  to  stockholders,
restrictions  on  capital  expenditures,  dispositions  of  assets  and sales of
subsidiary  stock,  among other  covenants.  Such  covenants  also  prohibit the
Company from making payments on the Diamondback Note, except that the Company is
permitted to pay interest  when due,  subject to certain  scheduled  payments of
overdue  interest,  and is  permitted  to make  principal  payments out of funds
derived from the issuance of capital stock or the issuance of subordinated debt.
The Company also is prohibited from making any payment with respect to the $15.4
million owing to St. James,  except that so long as no default  exists under the
Amended  Credit  Facility,  interest  may be paid in kind.  The  Amended  Credit
Facility  contains a number of  affirmative  covenants  requiring the Company to
maintain compliance with various financial matters, including the maintenance of
ratios  of  scheduled   principal   payments  to  adjusted  net  earnings   plus
depreciation  and  amortization  plus interest on subordinated  debt,  ratios of
EBITDA  (as  defined)  to  interest  expense  on  senior  debt,  ratios of total
indebtedness to tangible net worth, and certain levels of adjusted  tangible net
worth,  among other things.  Events of default under the Amended Credit Facility
include,  among other  things,  the failure to

                                       3
pay principal and interest on the indebtedness under the Amended Credit Facility
when  due,  failure  to  pay  any  other   indebtedness  when  due,  making  any
misrepresentations  to  Fleet  in any  of  the  loan  documents,  breach  of the
covenants  contained  in the  Amended  Credit  Facility  or  defaults  under the
security  documents under the Amended Credit Facility,  defaults under the terms
of other  indebtedness,  adverse changes in the Company's financial condition or
prospects, insolvency and other bankruptcy proceedings, the failure of St. James
to own at least 55% of the Company's issued and outstanding  capital stock (on a
fully diluted basis) prior to a secondary offering of the Company's  securities,
or, pursuant to a secondary public offering of capital stock of the Company,  at
least 30% of the Company's  issued and  outstanding  capital  stock,  on a fully
diluted basis. In the event of a default under the Amended Credit  Facility,  at
the option of Fleet, all amounts  thereunder become  immediately due and payable
and  Fleet  would  have the  right as a  secured  lender  to  foreclose  against
substantially all of the Company's assets. In addition,  under the cross-default
provisions of the Amended Credit Facility, a default under other indebtedness of
the Company could result in a default under the Amended Credit Facility.

     Reference is made to the Amended and Restated  Loan and Security  Agreement
filed as an Exhibit hereto for a complete statement of its terms and conditions.

     St. James Transaction

     On October 30, 1998, the Company entered into an Agreement for Purchase and
Sale (the "Note  Purchase  Agreement")  with  SJMB,  L.P.  ("SJMB"),  a Delaware
limited  partnership  and an  affiliate  of St. James  Capital  Partners,  L.P.,
whereby  SJMB  agreed  to  purchase  and the  Company  agreed to sell up to $2.0
million  principal  amount of a convertible  promissory note (the "Note") due on
March 16, 2001.  Through  October 30, 1998,  the Company  borrowed $1.25 million
under the Note Purchase  Agreement and the balance of $750,000 is intended to be
borrowed.  Payment of principal  and interest on the Note is  collateralized  by
substantially all the assets of the Company, subject, however, to the terms of a
subordination  agreement  between SJMB and Fleet. The Note bears interest at 10%
per annum and is  convertible  into shares of the  Company's  Common  Stock at a
conversion  price of $2.25 per share,  subject to  anti-dilution  adjustment for
certain  issuances  of  securities  by the Company at prices per share of Common
Stock  less  than the  conversion  price  then in  effect,  in which  event  the
conversion price is reduced to the lower price at which such shares were issued.
Pursuant to the Note Purchase Agreement, the Company has agreed to issue to SJMB
for nominal consideration  warrants (the "Warrant") to purchase shares of Common
Stock  exercisable  at a price of $2.25  per  share,  subject  to  anti-dilution
adjustment  for

                                       4
certain  issuances  of  securities  by the Company at prices per share of Common
Stock less than the exercise  price then in effect,  in which event the exercise
price is reduced to the lower  price at which such  shares  were  issued and the
number of shares issuable is adjusted upward.  St. James will be issued warrants
to purchase 666 shares of Common Stock for each $1,000  borrowed  under the Note
Purchase  Agreement,  or a maximum aggregate of warrants to purchase  1,333,333,
shares.  The shares  issuable  on  conversion  of the Note and  exercise  of the
Warrant have demand and piggy-back  registration rights under the Securities Act
of 1933.  The Note  Purchase  Agreement  grants St. James  certain  preferential
rights  to  provide  future  financings  to  the  Company,  subject  to  certain
exceptions.  The Note  contains  various  affirmative  and  negative  covenants,
including,  among  others,  a  prohibition  against the  Company  consolidating,
merging or entering  into a share  exchange  with another  person,  with certain
exceptions,  without the consent of St. James.  Events of default under the Note
include,  among  other  events,  (i) a default in the  payment of  principal  or
interest on the Note;  (ii) a default in the  performance of any covenant of the
Note Purchase Agreement or other agreement entered into in connection  therewith
and the failure to cure such default;  (iii) any  representation  or warranty of
the Company in the Note Purchase  Agreement or other  agreement  entered into in
connection  therewith  being  untrue in any  material  respect and such  default
remains  uncured;  (iv)  the  Company  defaults  in the  payment  when due or by
acceleration  of any other  indebtedness  having an aggregate  principal  amount
outstanding  in excess of  $100,000  and such  default  remains  uncured;  (v) a
judgment  for the payment of money in excess of $100,000 is entered  against the
Company; (vi) certain bankruptcy or insolvency  proceedings;  (vi) any person or
group of  persons  acquiring  40% or more of the voting  power of the  Company's
outstanding  shares who was not the owner as of October  30,  1998;  and (vii) a
merger of the Company with another  person,  its dissolution or liquidation or a
sale of all or substantially all its assets. A default under the SJMB note would
be a default under the notes issued to St. James Capital Partners,  L.P. in June
and October 1997 and in January 1998. SJMB will receive an origination fee of 2%
of the amount borrowed in connection with the transaction.

                                       5
ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS.

          (a)  None required.

          (b)  None required.

          (c)  Exhibits:

               EXHIBIT NUMBER               DESCRIPTION OF DOCUMENT
               --------------   ------------------------------------------------

                    10.1        Amended   and   Restated   Loan  and   Security
                                Agreement  dated  October 30, 1998  between the
                                Company and Fleet Capital Corporation

                    10.2        Agreement   for  Purchase  and
                                Sale dated  October  30,  1998
                                between  the Company and SJMB,
                                L.P.

                    10.3        Promissory  Note dated  October 30, 1998 in the
                                principal  amount of $2.0 million issued by the
                                Company to SJMB, L.P.

                                       6
SIGNATURES

     Pursuant to the  requirements  of the  Securities and Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                BLACK WARRIOR WIRELINE CORP.

Dated:  November 13, 1998                       By: /s/ William L. Jenkins
                                                   -----------------------------
                                                   William L. Jenkins, President