One-Page Deal Sheet
Forest Oil Announces Agreement to Sell East Texas Natural Gas Gathering Assets
Not Disclosed Forest Oil Corp.
Announced Date
August 15,2012
Close Date
October 31,2012
Transaction Type
Asset
Transaction Details: Subscribe to see
Forest Oil Corporation , today announced that it has entered into an agreement to sell the majority of its East Texas natural gas gathering assets to a subsidiary of Tristate Midstream II, LLC for proceeds of $34 million. Forest can also earn up to $9 million of additional performance payments contingent on future activity.
In conjunction with the sale, Forest has entered into a ten-year natural gas gathering agreement with the buyer under which Forest will commit its production from its existing and future operated wells located within five miles of the current configuration of the…
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