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) December 1, 2003
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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. 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 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.
OPERATIONAL OUTLOOK FOR 2003
The Company's operational outlook for 2003 is based on its current
productive wells and its low risk drilling plans for the remainder of 2003. Due
to the uncertainty associated with exploratory drilling, acquisitions and
dispositions, the Company does not include any projection of production
resulting from these activities in this 2003 outlook. Accordingly, actual
results in 2003 may differ significantly from the outlook provided.
The following table includes estimates given as of December 1, 2003,
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 sections address 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) 3,443 3,617 3,836 3,800 - 4,000 14,696 - 14,896
Oil (Mbbls) 101 102 103 103 - 109 409 - 415
Total production (Mmcfe) 4,047 4,229 4,456 4,418 - 4,654 17,150 - 17,386
Production expense per Mcfe $ 1.11 $ 1.12 $ 1.12 $ 1.14 - 1.16 $ 1.13 - 1.14
Production taxes per Mcfe 0.17 0.16 0.14 0.13 - 0.14 0.15 - 0.16
Exploration expense excluding
exploratory dry hole expense $ 2.2 $ 2.3 $ 2.0 $ 1.6 - 2.1 $ 8.1 - 8.6
General and administrative expense 1.2 1.1 1.1 1.1 - 1.2 4.5 - 4.6
Gas gathering, marketing and
oilfield services margin 0.6 0.1 0.4 0.5 - 0.6 1.6 - 1.7
MMCF - MILLION CUBIC FEET MCFE - THOUSAND CUBIC FEET OF NATURAL
GAS EQUIVALENT
MBBLS - THOUSAND BARRELS MMCFE - MILLION CUBIC FEET OF NATURAL
GAS EQUIVALENT
The third quarter represents the Company's second consecutive quarter
of production growth with total production up 5.4% from the second quarter and
10.1% from the first quarter.
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: December 1, 2003 BELDEN & BLAKE CORPORATION
-------------------- (Registrant)
By: /s/ Robert W. Peshek
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Robert W. Peshek, Vice President
and Chief Financial Officer