Forest Oil Announces Closing of Its Permian Basin Divestiture and Calls $150 Million 7 ¾% Senior Notes Due 2014
December 22nd, 2009Forest Oil Corporation (NYSE:FST) (Forest or the Company) today announced that it closed the previously announced sale of the remainder of its Permian Basin properties in West Texas and New Mexico for approximately $800 million to SandRidge Exploration and Production, LLC, a wholly-owned subsidiary of SandRidge Energy, Inc. (NYSE:SD), subject to customary post-closing purchase price [...]