On September 4, 1995, at 1915 central daylight time, a Rockwell International S-2R, N4998X, was substantially damaged upon impact with a power line while maneuvering near Loop, Texas. The commercial pilot was not injured. The aircraft was being operated on an aerial application flight by Loop Spraying Service Inc., under Title 14 CFR Part 137 when the accident occurred. The flight originated at Seagraves, Texas, at approximately 1800 CDT. Visual meteorological conditions prevailed at the time of the accident for which no flight plan was filed. The pilot stated to a Federal Aviation Administration (FAA) inspector that he had been spraying since early in the morning, and was near the end of his task for the day. The pilot further stated that he was monitoring the on-board SAT-LOC while flying westbound towards the setting sun, when he got a glance of a small warning sign in the field. The pilot added that he banked the airplane to the right to provide additional clearance, when the left wing impacted the 115,000 volt power distribution line. Control was lost and the airplane came to rest in a cotton field in the inverted position.