Operational Updates
Forest Oil Announces First Quarter 2012 Results and Operational Update
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strong>Eagle Ford Shale
Forest holds approximately 112,000 gross acres (103,000 net) and is currently running one rig in the oil-bearing section of the Eagle Ford Shale play.
Since Forest’s last earnings release, the Company completed three horizontal wells (100% working interest) targeting the upper-most member of the Eagle Ford Shale interval. The first well reached a 24-hour maximum production rate of 605 Boe/d (96% oil). This well, which utilized a new stimulation design, had a 30-day average production rate of greater than 500 Boe/d and, in less than 60 days, had cumulative production of approximately 25,000 barrels of oil.
Forest completed its second and third wells in April and they are currently testing at 24-hour rates of 449 Boe/d (92% oil) and 116 Boe/d (97% oil). The third…
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