Belden & Blake's bank facility increases.NORTH CANTON North Canton, city (1990 pop. 14,748), Stark co., NE Ohio, a suburb of Canton; settled c.1815, inc. as a city 1961. Vacuum cleaners and industrial die castings are among the city's manufactures. , OH--(BUSINESS WIRE)--August 23, 1994--Belden & Blake Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BELD BELD Braintree Electric Light Department (Massachusetts) BELD Battlefield Environment Laser Designator ) today announced that its bank group, led by Bank One Texas N.A., has increased the company's revolving bank facility and extended the maturity date to March 31, 1999. The Company's borrowing base under the facility is currently set at $81 million of which $37 million is currently outstanding. The Company expects to have the borrowing base increased by at least 50% of the present value of any proved developed reserves added through acquisitions or drilling. "With increases in the borrowing base from reserve additions, we have the capacity to make acquisitions of $100 million under this bank facility," said Ronald E. Huff huff - To compress data using a Huffman code. Various programs that use such methods have been called "HUFF" or some variant thereof. Opposite: puff. Compare crunch, compress. , Sr. Vice President and Chief Financial Officer. Belden & Blake Corporation is actively engaged in acquiring producing oil and gas properties, drilling for and developing oil and natural gas reserves and gathering and marketing natural gas in the Appalachian and Michigan Basins The Michigan Basin is a geologic basin centered on the lower peninsula of the US state of Michigan. The feature is represented by a nearly circular pattern of geologic sedimentary strata in the area with a nearly uniform structural dip toward the center of the peninsula. . CONTACT: Belden & Blake Corporation, North Canton Patricia A. Harcourt, 216/499-1660 |
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