Forest Oil to use existing loan to help buy producing assets

By Sara Rosenberg

New York, Feb. 13 - Forest Oil Corp. plans to use borrowings under its existing credit facility, along with cash on hand, to fund the about $255 million acquisition of producing assets from six private entities, according to a company news release.

The acquisition is scheduled to close on March 31 and is subject to customary closing conditions and adjustments.

Forest Oil is a Denver-based oil and gas exploration and production company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.