FST » Topics » Acquisition of Oil and Natural Gas Assets.

This excerpt taken from the FST 8-K filed May 2, 2008.
Acquisition of Oil and Natural Gas Assets.  On May 2, 2008, Forest announced that it had completed it previously announced acquisition of producing oil and natural gas properties including approximately 69,000 gross acres (47,000 net acres) located in its core Ark-La-Tex region in East Texas and North Louisiana.  These assets produced approximately 13 MMcfe/d in 2007 and, based on Forest’s internal review, contained estimated proved oil and gas reserves of 110 Bcfe as of the closing date.  Forest paid cash consideration at closing of approximately $281 million for these assets using its credit facility.  The economic effective date for the transaction was March 1, 2008, and the purchase price is subject to customary post-closing price adjustments.  The press release is furnished and attached to this Current Report on Form 8-K as Exhibit 99.1.

 

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki