One-Page Deal Sheet
Forest Oil Lets Go of South TX Assets
Hilcorp Energy Company Forest Oil Corp.
Announced Date
February 18,2013
Effective Date
January 01,2013
Close Date
February 15,2013
Transaction Type
Property
Enterprise Value (EV)($MM)
307
Asset/Basin:
{"Gulf Coast"}
Transaction Details: Subscribe to see
Forest Oil Corporation has closed the previously announced sale of its properties in South Texas for net cash proceeds of approximately $307 million, after customary adjustments to reflect an effective date of January 1, 2013 and the hold-back of certain properties, valued at approximately $14 million, for which required consents-to-assign have not yet been obtained.
A subsequent closing on these hold-back properties is expected to occur within 90 days. The proceeds from this sale will be used to redeem the remaining $300 million principal amount outstanding of the Company’s 8.5% Senior Notes…
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