8-K 1 l01396ae8vk.txt BELDEN & BLAKE CORPORATION 8-K 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 22, 2003 --------------- 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 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 August 22, 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 ------------------------------------------------ QUARTER ENDING YEAR ENDING ----------------------------------------------------- MARCH 31 JUNE 30 SEPTEMBER 30 DECEMBER 31 DECEMBER 31 -------- ------- ------------ ----------- ----------- (UNAUDITED, DOLLARS IN MILLIONS, EXCEPT AS NOTED) Production Gas (Mmcf) 3,443 3,617 3,700 - 3,900 3,800 - 4,000 14,560 - 14,960 Oil (Mbbls) 101 102 90 - 96 100 - 106 393 - 405 Total production (Mmcfe) 4,047 4,229 4,240 - 4,476 4,400 - 4,636 16,916 - 17,388 Production expense per Mcfe $ 1.11 $ 1.12 $ 1.06 - 1.09 $ 1.03 - 1.06 $ 1.08 - 1.10 Production taxes per Mcfe 0.17 0.16 0.13 - 0.14 0.12 - 0.13 0.14 - 0.15 Exploration expense excluding exploratory dry hole expense $ 2.2 $ 2.3 $ 1.9 - 2.4 $ 1.7 - 2.2 $ 8.1 - 9.1 General and administrative expense 1.2 1.1 1.1 - 1.2 1.1 - 1.2 4.5 - 4.7 Gas gathering, marketing and oilfield services margin 0.6 0.5 0.5 - 0.6 0.5 - 0.6 2.1 - 2.3
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: August 25, 2003 BELDEN & BLAKE CORPORATION -------------------- (Registrant) By: /s/ Robert W. Peshek ---------------------------------- Robert W. Peshek, Vice President and Chief Financial Officer