Belden & Blake adds reserves.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)--Sept. 27, 1995--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 ) has purchased oil and gas properties in northern Michigan This article is about the region; for the university, see Northern Michigan University Northern Michigan - or more properly Northern Lower Michigan - is a region of the U.S. state of Michigan, popular as a tourist destination. with estimated proved developed reserves, associated with 24 Antrim Shale wells, of 11 Bcf (billion cubic feet) of natural gas net to the company's interest. The company's average working interest in these wells is 78 percent, and they account for approximately half of the aggregate purchase price of $10.3 million. The remainder of the purchase price is associated with the company's 94 percent working interest in approximately 90 proved undeveloped well locations on approximately 17,000 leasehold acres. The properties were purchased from Savoy Oil & Gas, Inc., a privately owned independent energy company headquartered in Traverse City, Michigan Traverse City is a city in the U.S. state of Michigan. It is the largest in the 21-county Northern Michigan region. As of the 2000 census, the city population was 14,532. In 2005, the Traverse City Micropolitan Statistical Area was the largest in Michigan and the 13th largest in . To date in 1995, the company has acquired an estimated 105 Bcf equivalent of proved developed reserves for approximately $68 million. The reserves acquired represent more than four times the company's estimated production in 1995. Belden & Blake Corporation is actively engaged in producing oil and natural gas, acquiring producing oil and gas properties, exploratory and development drilling and gas gathering and marketing in the Appalachian and Michigan Basins. CONTACT: Belden & Blake Corp., North Canton Donald A. Rutishauser, 216/499-1660 |
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