Corporate Profile for Belden & Blake Corp., dated July 11, 1997.--(BUSINESS WIRE)--The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services. -0-
Published Date: July 11, 1997
Company Name: Belden & Blake Corp.
Address: 5200 Stoneham Road
North Canton, Ohio 44720
Main Telephone
Number: 330/499-1660
Chief Executive
Officer: Ronald L. Clements
Chief Financial
Officer: Ronald E. Huff
Public Relations
Contact: Patricia A. Harcourt
Business number: 330/499-1660
Home number: 330/966-3708
Industry: Oil/Gas
Company description: Belden & Blake Corp. is actively engaged in producing oil and natural gas, acquiring and enhancing the economic performance of producing oil and gas properties, exploring for and developing natural gas and oil reserves Oil reserves refer to portions of oil in place that are claimed to be recoverable under economic constraints. Oil in the ground is not a "reserve" unless it is claimed to be economically recoverable, since as the oil is extracted, the cost of recovery increases incrementally , gathering and marketing natural gas and providing oilfield supplies and services in the Appalachian, Michigan and Illinois basins (a region which includes Ohio, Pennsylvania, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. , Michigan and Kentucky). The Ohio-based company is one of the largest exploration and production companies operating in the Appalachian Basin in terms of reserves, acreage held and wells operated. Belden & Blake Corp. is a privately-held subsidiary of TPG TPG Texas Pacific Group TPG Tapping TPG Transports Publics Genevois (Geneva, Switzerland public transportation) TPG Test Pattern Generator TPG TNT Post Group TPG Trésorier Payeur Général Partners II L.P., an affiliate of Texas Pacific Group. For the year ended Dec. 31, 1996, Belden & Blake reported total revenue of $153.2 million, income from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the of $15.2 million, and discretionary cash flow Discretionary cash flow Cash flow that is available after the funding of all positive net present value (NPV) capital investment projects; it is available for paying cash dividends, repurchasing common stock, retiring debt, and so on. of $54.8 million. The company's net operating budget Noun 1. operating budget - a budget for current expenses as distinct from financial transactions or permanent improvements budget items, operating cost, operating expense, overhead - the expense of maintaining property (e.g. for 1997 is approximately $100 million. The company's primary business strategy is to continue making strategic acquisitions of producing oil and gas properties; expand its production and reserves through a balanced portfolio of developmental and exploratory drilling; expand its gathering and marketing activities; and grow its oilfield sales and service business. CONTACT: Belden & Blake Corp. |
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