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Forest Talks 2014 Budget; Eyes Major Eagle Ford, Cotton Valley Ops
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Forest Oil Corporation has reported that its Board of Directors has approved a 2014 capital budget and that it is providing 2014 average net sales volumes and cost guidance.
Patrick R. McDonald, President and CEO, commented, "Following the completion of the Texas Panhandle asset sale, we are focused on the development and expansion of our Eagle Ford operations along with attention to our asset positions in Ark-La-Tex and the Permian Basin. Our 2014 capital plan is designed to deliver growth in oil volumes and accompanying growth in EBITDA as we initiate development drilling activities in the central area of our Eagle Ford position, with emphasis on pad drilling and increasing economies of scale and capital efficiency. Based on our planned activity, 2014 production is expected to increase…
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