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Schlumberger or FTS: Sabine Oil & Gas Must Pick One
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Earlier this week, Sabine Oil & Gas announced its intention to acquire/merge with the troubled Forest Oil.
As many of you might remember, Forest struck a weird deal with Schlumberger back in April of 2013: "Schlumberger will pay a $90 million drilling carry in the form of future drilling and completion services and related development capital in order to earn a 50% working interest in Forest’s Eagle Ford Shale acreage position."
In August of 2013, during the 2Q investor call, Forest outlined that its 30 day IP had improved, however when pressed for more information, Forest noted that "it was too early to tell if it was as a result of anything Schlumberger was doing". Read more here.
Shale Experts has continued to track Forest's activities since then and was suprised when the company…
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