Text Size:
A | A

Forest Oil To Sell South Louisiana Props

Text Size: A | A
October 12, 2012

Forest Oil Corp. (NYSE: FST) announced that it has entered into a definitive agreement to sell all of its properties located in south Louisiana for approximately $220 million.

The properties produced 20 MMcf/d (65% liquids) during the third quarter of 2012 and had estimated proved reserves of 45 Bcf (62% liquids) as of Dec. 31, 2011.

Forest intends to use the proceeds from this divestiture to repay outstanding borrowings under its bank credit facility. ...

Already a subscriber? Log In
Does your company have a site license? Inquire here
Already a print subscriber? Upgrade your magazine subscription