|
|
News Breaks | | | | January 3, 2013 | | 07:21 EDT |  | FST | Forest Oil to Sell South Texas properties for $325M
Forest Oil has entered into a definitive agreement to sell all of its properties located in South Texas, excluding its Eagle Ford Shale oil properties, for after-tax cash proceeds of $325M. The transaction is expected to close on or before February 15, with an effective date of January 1. The properties produced 66 MMcfe/d (86% natural gas) during Q3 2012, had estimated proved reserves of 272 Bcfe (85% natural gas) as of December 31, 2011, and generated approximately $60M of lease-level income during 2012. Forest intends to use the proceeds from this divestiture to pay down debt and retains all of its natural gas hedges. | |
|
News For FST From The Last 14 Days Check below for free stories on FST the last two weeks. |
|
|
| May 10, 2013 | | 10:00 EDT |  | FST | On The Fly: Analyst Upgrade Summary
 Subscribe for More Information | | | 07:18 EDT | | FST | Forest Oil upgraded to Buy from Hold at Stifel
Subscribe for More Information | | | May 6, 2013 | | 17:22 EDT | | FST | Forest Oil reports Q1 average net sales volume 243MMcfe/d
Forest's average net sales volumes for Q1 were 243 MMcfe/d, a decrease of 28% from the prior year period. Q1 average net sales volumes were lower as a result of the South Louisiana property sale that closed on November 16, 2012, the South Texas property sale that closed on February 15, and a decline in natural gas volumes as the company has deferred capital investment on its natural gas properties to focus on higher-margin oil opportunities. | | | 17:21 EDT |  | FST | Forest Oil reports Q1 adjusted EPS 3c, consensus 2c
Reports Q1 revenue $118.2M, consensus $131.75M. | |
|
|
|
|
|
|
