SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) August 15, 2002
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BELDEN & BLAKE CORPORATION
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(Exact name of registrant as specified in its charter)
OHIO 0-20100 34-1686642
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(State or other jurisdiction of (Commission File Number) (IRS Employer Identification No.)
incorporation)
5200 Stoneham Road, North Canton, Ohio 44720
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(Address of principal executive offices) (Zip Code)
(330) 499-1660
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Registrant's telephone number, including area code
ITEM 9. REGULATION FD DISCLOSURE
Belden & Blake Corporation ("Belden & Blake" or the "Company") is
furnishing the following information under Item 9 of this Current Report on Form
8-K.
The information in this report is furnished pursuant to Item 9 and shall
not be deemed to be "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934 or otherwise subject to the liabilities of that section,
except if the Company specifically states that the information is to be
considered "filed" under the Securities Exchange Act of 1934 or incorporates it
by reference into a filing under the Securities Act of 1933 or the Securities
Exchange Act of 1934. This report will not be deemed an admission as to the
materiality of any information in the report that is required to be disclosed
solely by Regulation FD.
The information in this document includes forward-looking statements that
are made pursuant to Safe Harbor Provisions of the Private Securities Litigation
Reform Act of 1995. Statements preceded by, followed by or that otherwise
include the statements "should," "believe," "expect," "anticipate," "intend,"
"will," "continue," "estimate," "plan," "outlook," "may," "future,"
"projection," variations of these statements and similar expressions are
forward-looking statements. These forward-looking statements are based on
current expectations and projections about future events. Forward-looking
statements, and the business prospects of Belden & Blake are subject to a number
of risks and uncertainties which may cause the Company's actual results in
future periods to differ materially from the forward-looking statements
contained herein. These risks and uncertainties include, but are not limited to,
the Company's access to capital, the market demand for and prices of oil and
natural gas, the Company's oil and gas production and costs of operation,
results of the Company's future drilling activities, the uncertainties of
reserve estimates, general economic conditions, new legislation or regulatory
changes, changes in accounting principles, policies or guidelines and
environmental risks. These and other risks are described in the Company's 10-K
and 10-Q reports and other filings with the Securities and Exchange Commission
("SEC").
OPERATIONAL OUTLOOK FOR 2002
The following table includes estimates given as of August 15, 2002, that
are based on current expectations and currently available information. These
forward-looking statements are subject to a number of risks and uncertainties
which may cause the Company's actual results to differ materially from the
following estimates. The preceding section addresses certain of the risks and
uncertainties to which the Company is subject.
ESTIMATED
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QUARTER ENDING
----------------------------------------------------- YEAR ENDING
MARCH 31 JUNE 30 SEPTEMBER 30 DECEMBER 31 DECEMBER 31
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(UNAUDITED, DOLLARS IN MILLIONS, EXCEPT AS NOTED)
Production
Gas (Mmcf) 4,543 4,404 4,450 - 4,750 4,550 - 4,850 17,947 - 18,547
Oil (Mbbls) 148 143 115 - 129 108 - 118 514 - 538
Total production (Mmcfe) 5,431 5,265 5,140 - 5,524 5,198 - 5,558 21,034 - 21,778
Production expense per Mcfe $ 0.95 $ 1.02 $ 0.95 - 1.00 $ 0.90 - 0.95 $ 0.94 - 0.99
Production taxes per Mcfe 0.09 0.10 0.08 - 0.10 0.08 - 0.10 0.08 - 0.10
Exploration expense excluding
exploratory dry hole expense $ 2.1 $ 2.6 $ 2.1 - 2.7 $ 2.4 - 3.0 $ 9.2 - 10.4
General and administrative expense 1.2 1.2 1.1 - 1.3 1.1 - 1.3 4.6 - 5.0
Gas gathering, marketing and
oilfield services margin 1.6 1.0 1.0 - 1.5 1.0 - 1.6 4.6 - 5.7
Mmcf - Million cubic feet Mcfe - Thousand cubic feet of natural gas equivalent
Mbbls - Thousand barrels Mmcfe - Million cubic feet of natural gas equivalent
</Table>
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: August 15, 2002 BELDEN & BLAKE CORPORATION
--------------------- (Registrant)
By: /s/ Robert W. Peshek
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Robert W. Peshek, Vice President
and Chief Financial Officer