Belden & Blake Capital Expenditures To Increase 73 Percent in 1995.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. , Ohio--(BUSINESS WIRE)--Feb. 21, 1995--Belden & Blake Corporation has budgeted for capital expenditures of $19 million in 1995, a 73 percent increase over capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. in 1994. Included in the 1995 budget is $15.4 million for drilling -- a 67 percent increase over 1994 drilling expenditures. The company's 1995 plans call for spending $10.7 million to drill 88 wells to shallow blanket formations and $4.7 million to drill 39 wells to deeper, less developed formations in the Appalachian Ap`pa`la´chi`an a. 1. Of or pertaining to a chain of mountains in the United States, commonly called the Allegheny ltname> mountains. Noun 1. 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. . "Our 1995 budget reflects an expansion of our successful 1994 drilling program; our commitment to increase our reserve base by developing our extensive leasehold An estate, interest, in real property held under a rental agreement by which the owner gives another the right to occupy or use land for a period of time. leasehold n. acreage; and a continuation of our balanced approach to exploration and development. It also reflects the new opportunities created by our recent entry into the Michigan Basin," said Henry S. Belden IV, Chairman and Chief Executive Officer. Belden & Blake Corporation is actively engaged in acquiring producing oil and gas properties, exploring for and developing natural gas reserves and gathering and marketing natural gas in the Appalachian and Michigan Basins. CONTACT: Belden & Blake Corp., North Canton Patricia A. Harcourt, 216/499-1660 |
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