-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EkyiNizx/iqqC58CcuVWG70XrHKATCJ4wl1enD2Ulmn5qyXRFL9vnH4E7K6IjAAw goaa3R/oZ0Y6Rrue3J61ZA== 0000950152-00-002656.txt : 20000404 0000950152-00-002656.hdr.sgml : 20000404 ACCESSION NUMBER: 0000950152-00-002656 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20000317 ITEM INFORMATION: FILED AS OF DATE: 20000403 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BELDEN & BLAKE CORP /OH/ CENTRAL INDEX KEY: 0000880114 STANDARD INDUSTRIAL CLASSIFICATION: DRILLING OIL & GAS WELLS [1381] IRS NUMBER: 341686642 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: SEC FILE NUMBER: 000-20100 FILM NUMBER: 592394 BUSINESS ADDRESS: STREET 1: 5200 STONEHAM RD STREET 2: P O BOX 2500 CITY: NORTH CANTON STATE: OH ZIP: 44720 BUSINESS PHONE: 3304991660 MAIL ADDRESS: STREET 1: 5200 STONEHAM RD STREET 2: P O BOX 2500 CITY: NORTH CANTON STATE: OH ZIP: 44720 8-K/A 1 BELDEN AND BLAKE FORM 8-K/A 1 SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K / A CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event) March 17, 2000 -------------- BELDEN & BLAKE CORPORATION -------------------------- (Exact name of registrant as specified in its charter) Ohio 0-20100 34-1686642 - ------------------------------ ------------------------------ --------------------------------- (State or other jurisdiction of (Commission File Number) (IRS Employer Identification No.) incorporation)
5200 Stoneham Road, North Canton, Ohio 44720 - ---------------------------------------- ------------------- (Address of principal executive offices) (Zip Code) (330) 499-1660 -------------- Registrant's telephone number, including area code 2 Item 7. Financial Statements and Exhibits --------------------------------- Belden & Blake Corporation hereby amends Item 7, Financial Statements and Exhibits, of its Current Report on Form 8-K dated March 17, 2000 and filed with the Securities and Exchange Commission on March 20, 2000 in connection with the sale of stock of Peake Energy, Inc. As permitted by Sections (a)(4) and (b) of the instructions to Item 7, the report omitted the pro forma financial information required by Item 7(b). The purpose of this amendment is to provide such pro forma financial information.
Pro Forma Financial Information (unaudited) Page - ------------------------------- ---- Pro Forma Consolidated Balance Sheets as of December 31,1999............................................ F-1 Pro Forma Consolidated Statements of Operations for the Year ended December 31, 1999.................... F-2 Notes to Unaudited Pro Forma Financial Statements....................................................... F-3
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: April 3, 2000 BELDEN & BLAKE CORPORATION ------------ (Registrant) By: /s/ Joseph M. Vitale ----------------------------------- Joseph M. Vitale Sr. Vice President 3 BELDEN & BLAKE CORPORATION UNAUDITED PRO FORMA CONSOLIDATED BALANCE SHEET DECEMBER 31, 1999 (IN THOUSANDS, EXCEPT SHARE DATA)
HISTORICAL PRO FORMA ----------------------------------- ----------------------------------- COMPANY PEAKE ADJUSTMENTS COMBINED ---------------- ---------------- ---------------- ---------------- ASSETS CURRENT ASSETS Cash and cash equivalents $ 4,536 $ 108 $ $ 4,428 Accounts receivable, net 25,301 3,669 21,632 Inventories 2,106 272 1,834 Deferred income taxes 2,006 506 1,500 Other current assets 1,154 13 1,141 ---------------- ---------------- ---------------- ---------------- TOTAL CURRENT ASSETS 35,103 4,568 -- 30,535 PROPERTY AND EQUIPMENT, AT COST Oil and gas properties (successful efforts method) 534,515 135,025 399,490 Gas gathering systems 22,193 8,752 13,441 Land, buildings, machinery and equipment 24,242 2,096 22,146 ---------------- ---------------- ---------------- ---------------- 580,950 145,873 -- 435,077 Less accumulated depreciation, depletion and amortization 280,047 92,949 187,098 ---------------- ---------------- ---------------- ---------------- PROPERTY AND EQUIPMENT, NET 300,903 52,924 -- 247,979 OTHER ASSETS 14,689 33 14,656 ---------------- ---------------- ---------------- ---------------- $ 350,695 $ 57,525 $ -- $ 293,170 ================ ================ ================ ================ LIABILITIES AND SHAREHOLDERS' DEFICIT CURRENT LIABILITIES Accounts payable $ 4,132 $ 102 $ $ 4,030 Accrued expenses 23,024 2,432 20,592 Current portion of long-term liabilities 50,979 (50,000)(a) 979 ---------------- ---------------- ---------------- ---------------- TOTAL CURRENT LIABILITIES 78,135 2,534 (50,000) 25,601 LONG-TERM LIABILITIES Bank and other long-term debt 78,161 (19,000)(a) 59,161 Senior subordinated notes 225,000 225,000 Other 570 570 ---------------- ---------------- ---------------- ---------------- 303,731 -- (19,000) 284,731 DEFERRED INCOME TAXES 20,419 1,940 18,479 SHAREHOLDERS' DEFICIT Common stock without par value; $.10 stated value per share; authorized 58,000,000 shares; issued and outstanding 10,260,457 and 10,110,915 shares 1,026 1,026 Paid in capital 107,609 107,609 Belden & Blake Investment 53,051 53,051 (a) -- Deficit (160,225) 15,949 (a) (144,276) ---------------- ---------------- ---------------- ---------------- TOTAL SHAREHOLDERS' DEFICIT (51,590) 53,051 69,000 (35,641) ---------------- ---------------- ---------------- ---------------- $ 350,695 $ 57,525 $ -- $ 293,170 ================ ================ ================ ================
See accompanying notes. F-1 4 BELDEN & BLAKE CORPORATION UNAUDITED PRO FORMA CONSOLIDATED STATEMENTS OF OPERATIONS YEAR ENDED DECEMBER 31, 1999 (IN THOUSANDS)
HISTORICAL PRO FORMA ----------------------------------- ----------------------------------- COMPANY PEAKE ADJUSTMENTS RESULTS --------------- ---------------- ---------------- ---------------- REVENUES Oil and gas sales $ 79,299 $ 14,810 $ $ 64,489 Gas gathering, marketing, and oilfield sales and service 51,443 1,543 49,900 Other 4,996 1,186 3,810 --------------- ---------------- ---------------- ---------------- 135,738 17,539 -- 118,199 EXPENSES Production expense 21,980 3,288 217 (b) 18,909 Production taxes 3,260 1,371 1,889 Gas gathering, marketing, and oilfield sales and service 46,954 267 46,687 Exploration expense 6,442 772 191 (b) 5,861 General and administrative expense 5,412 924 840 (b) 5,328 Franchise, property and other taxes 652 117 535 Depreciation, depletion and amortization 41,412 5,893 35,519 Interest expense 34,302 5,376 28,926 Net loss on sale of subsidiaries and other nonrecurring expense 4,806 4,806 --------------- ---------------- ---------------- ---------------- 165,220 18,008 1,248 148,460 --------------- ---------------- ---------------- ---------------- LOSS BEFORE INCOME TAXES (29,482) (469) (1,248) (30,261) Income taxes benefit (11,179) (228) (473)(c) (11,424) --------------- ---------------- ---------------- ---------------- NET LOSS $ (18,303) $ (241) $ (775) $ (18,837) =============== ================ ================ ================
See accompanying notes. F-2 5 BELDEN & BLAKE CORPORATION NOTES TO UNAUDITED PRO FORMA FINANCIAL STATEMENTS (1) BASIS OF PRESENTATION The unaudited pro forma financial statements set forth unaudited pro forma financial information for the Company for the year ended December 31, 1999. The unaudited pro forma condensed balance sheet assumes that Peake Energy, Inc. ("Peake") had been sold as of December 31, 1999. The unaudited pro forma results of operations assume that the disposition of Peake had occurred on January 1, 1999. Unaudited pro forma results of operations cannot be considered indicative of future operations. (2) PRO FORMA ADJUSTMENTS (a) Represents the reduction of debt, shareholders' deficit (gain on sale) and Belden & Blake Investment in connection with the net proceeds from the disposition of Peake. (b) Represents costs which the Company allocated to Peake during 1999 which will be retained in the Company. (c) Income taxes on pro forma adjustments. F-3 -----END PRIVACY-ENHANCED MESSAGE-----