One-Page Deal Sheet
Forest Oil Buys The Houston Exploration Company
Forest Oil Corp. The Houston Exploration Co.
Announced Date
September 01,2007
Close Date
June 06,2007
Transaction Type
Corporate
Enterprise Value (EV)($MM)
1500
Asset/Basin:
{"Arkoma Basin","DJ Basin","Uinta Basin","South Texas","East Texas"}
TargetZones:
{Niobrara}
Location
Country
United States
State
Texas
Transaction Details: Subscribe to see
Forest Oil Corporation today announced it has entered into a definitive agreement to acquire 100% of the outstanding stock of The Houston Exploration Company in a stock and cash transaction totaling approximately $1.5 billion plus the assumption of net debt estimated to be $100 million at December 31, 2006.
Forest Oil worked with JANA Partners LLC (JANA), the holder of 14.7% of the outstanding shares of Houston Ex, with the result that JANA has agreed today to vote in favor of the transaction. JANA has also agreed not to propose any extraordinary transactions with Forest or to seek to…
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