One-Page Deal Sheet
Forest Oil Sells Permian Basin Asset To Sandridge
Sandridge Energy, Inc. Forest Oil Corp.
Announced Date
December 01,2009
Effective Date
November 01,2009
Close Date
December 21,2009
Transaction Type
Property
Enterprise Value (EV)($MM)
800
Location
Region
Permian
Country
United States
State
New Mexico
Play
Production & Reserves Production
Reserves
Transaction Details: Subscribe to see
Forest Oil Corporation announced that it has entered into a definitive agreement to sell to SandRidge Exploration and Production, LLC, a wholly owned subsidiary of SandRidge Energy, Inc., the remainder of its Permian Basin properties in West Texas and New Mexico for approximately $800 million.
The transaction is expected to close on or before December 31, 2009, with an effective date of November 1, 2009, and is subject to customary closing conditions and post-closing purchase price adjustments.
The divested properties are currently producing 46 MMcfe/d and had estimated proved reserves of 321…
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