One-Page Deal Sheet
Forest Oil Discovers Shale in Canada and Adds to Core Acreage in Haynesville
Forest Oil Corp. Not Disclosed
Announced Date
April 01,2008
Effective Date
March 01,2008
Close Date
May 02,2008
Transaction Type
Property
Enterprise Value (EV)($MM)
285
Asset/Basin:
{Haynesville}
TargetZones:
{"Cotton Valley","Tr
Net Acres
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Northeast,Ark-La-Tex,Canada
Country
Canada
Country
United States
State
Texas
Play
Production & Reserves Production
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Production ($/Mcfe/d)
Transaction Details: Subscribe to see
Forest Oil Corporation announced today a new natural gas discovery in the Utica Shale located in Quebec, Canada. In addition, the Company announced that is has agreed to purchase properties located in its Ark-La-Tex core areas for $285 million.
Utica Shale
Over the last two years, Forest has accumulated approximately 269,000 net acres, under lease or farmout, in the St. Lawrence Lowlands in Quebec, Canada. Two vertical pilot wells were drilled in 2007, testing the Utica Shale, to a total depth of approximately 4,800 feet. Production rates tested up to 1 MMcfe/d. Although the play is still in…
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