Operational Updates
Forest Oil Provides Updates on Haynesville, Eagle Ford, Wolfcamp and Panhandle Drilling
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Forest's equivalent net sales volumes and exploration and development capital for the three months ended September 30, 2011 were 323 MMcfe/d and $182 million, respectively. The Company experienced production downtime in the Texas Panhandle for compression and plant downtime, which resulted in a reduction of net sales volumes during the quarter of 10 MMcfe/d.
As a result of unsatisfactory third-party pipeline and plant performance in the Texas Panhandle, Forest is evaluating various solutions to reduce the production downtime, including laying a company-owned and controlled pipeline.
Texas Panhandle
Forest holds approximately 172,000 gross acres (103,000 net) in the Texas Panhandle. The area provides horizontal drilling opportunities targeting multiple liquids-rich Granite Wash intervals…
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