Operational Updates
Forest Oil Provides Eagle Ford Shale Update and 2012 CapEx
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Jul. 9, 2012-- Forest Oil Corporation (NYSE:FST) (Forest or the Company) today provided an update on its Eagle Ford Shale operations, and announced its second half 2012 capital and drilling program, estimated second quarter 2012 net sales volumes, and second half 2012 guidance.
Eagle Ford Shale Update
Since Forest’s last operational update, three horizontal wells have been completed in the central fairway of the Company’s Eagle Ford acreage position that had an average 24-hour maximum production rate of 787 Boe/d (96% oil). The first two wells had a 30-day average production rate of 535 Boe/d (95% oil), and the third well, which has been on production for 18 days, has averaged 616 Boe/d (94% oil).
Given these and earlier 2012 well results, a second drilling rig was recently moved to the…
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