Operational Updates
Forest Oil Provides Update On Granite Wash, Eagle Ford, Permian and Haynesville Projects
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Forest Oil Corporation today announced financial and operational results for the first quarter of 2012.
Forest holds approximately 184,000 gross acres (111,000 net) and is currently running 5 rigs in the Texas Panhandle Area.
Since Forest's last earnings release, the Company completed two horizontal Granite Wash wells (94% working interest) that had an average 24-hour initial production rate of 13 MMcfe/d, including approximately 1,400 Bbls/d of oil and natural gas liquids or 64% of total equivalent production.
Additionally, the Company completed one Missourian Wash well (100% working interest) that had a 24-hour initial production rate of 650 Boe/d. This well was completed with a shorter lateral, testing the areal extent of the Missourian Wash interval.
Forest complet…
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