Investors

2007 News Releases

Date Title   11/09/07 Forest Oil Announces Personnel Changes DENVER--(BUSINESS WIRE)--Nov. 9, 2007--Forest Oil Corporation (NYSE: FST) (Forest or the Company) today announced several executive personnel changes. Mr. J.C. Ridens has recently been named Executive Vice President and Chief Operating Officer with responsibility for all business units and drilling operations. Previously, Mr. Ridens served as Forest's Senior Vice President for the Gulf Region, the Southern Region, and most recently the Western Region. Mr. Ridens has been directly invo...  11/05/07 Forest Oil Announces Record Quarter in Sales Volumes; Record Adjusted Net Earnings, EBITDA, and Discretionary Cash Flow; New Assets Outperforming Expectations Sales Volumes Increased 62% from 2006 to a Record 508 MMcfe/d (Ex-Alaska) with Record Sales Volumes in Its "Big 5" Assets Having a Combined Rate of 315 MMcfe/d, Accounting for 62% of the Company's Sales Volumes Adjusted Net Earnings Per Share Increased 75% from 2006 to $.84 Per Share Adjusted EBITDA Increased 93% from 2006 to a Record $256.3 Million Adjusted Discretionary Cash Flow Increased 103% from 2006 to a Record $226.9 Million Closed the Sale of All Alaska Asse...  10/23/07 Forest Oil Announces Third Quarter 2007 Earnings Release Date and Teleconference DENVER--(BUSINESS WIRE)--Oct. 23, 2007--Forest Oil Corporation (NYSE: FST) has scheduled its third quarter 2007 earnings release to be issued after the close of trading on the New York Stock Exchange on Monday, November 5, 2007. A conference call is scheduled for Tuesday, November 6, 2007, at 12:00 p.m. MT to discuss the release. You may access the call by dialing toll-free 800-399-6298 (for U.S./Canada) and 706-634-0924 (for International) and request the Forest Oil teleconferenc...  10/15/07 Forest Oil Announces Successful Test Results in Italy DENVER--(BUSINESS WIRE)--Oct. 15, 2007--Forest Oil Corporation (NYSE:FST) (Forest or the Company) today announced that it has tested a second discovery well and an additional zone in the initial discovery well in the Monte Pallano Area located in Central Italy. The second discovery well tested 8 MMcfe/d without fracture stimulation. The flow rate was limited by on-site test equipment. The initial discovery well has now tested at a total rate of 14 MMcfe/d after the perforation of an a...  08/27/07 Forest Oil Closes Its Previously Announced Sale of Alaska Assets DENVER--(BUSINESS WIRE)--Aug. 27, 2007--Forest Oil Corporation (NYSE:FST) (Forest or the Company) announced today that it has closed its previously announced transaction to sell 100% of its Alaska assets, which includes its wholly-owned subsidiary, Forest Alaska Operating LLC (FAO), to Pacific Energy Resources Ltd. (TSX:PFE) (Pacific). Under the terms of the agreement, Forest received the following consideration: -- Cash of $268 million that repaid the full balance of the ...  08/07/07 Forest Oil Announces Second Quarter Results and Issues Guidance for the Second Half of 2007 Adjusted net earnings per share increased 26% from 2006 to $.67 per share Adjusted EBITDA increased 36% from 2006 to $188 million Discretionary cash flow increased 34% from 2006 to $158 million Sales volumes increased 18% from 2006 to 385 MMcfe/d Company again reported new record production rates at Buffalo Wallow, Wild River and Cotton Valley areas with combined rate at 124 MMcfe/d First horizontal Cotton Valley well successfully tested at 4.1 MMcfe/d ...  08/01/07 Forest Oil Announces Amendment on Sale of Alaska Assets DENVER--(BUSINESS WIRE)--Aug. 1, 2007--Forest Oil Corporation (NYSE:FST) (Forest or the Company) announced today that it has signed an amendment to its definitive agreement to sell 100% of its Alaska assets, which includes its wholly-owned subsidiary, Forest Alaska Operating LLC (FAO), with Pacific Energy Resources Ltd. (TSX:PFE) (Pacific), previously announced on May 29, 2007. Under the terms of the amendment, Forest will receive the following consideration: -- Cash of $2...  07/23/07 Forest Oil Announces Second Quarter 2007 Earnings Release Date and Teleconference DENVER, Jul 23, 2007 (BUSINESS WIRE) -- Forest Oil Corporation (NYSE: FST) has scheduled its second quarter 2007 earnings release to be issued after the close of trading on the New York Stock Exchange on Tuesday, August 7, 2007. A conference call is scheduled for Wednesday, August 8, 2007, at 11:00 a.m. MT to discuss the release. You may access the call by dialing toll-free 800-399-6298 (for U.S./Canada) and 706-634-0924 (for International) and request the Forest Oil teleconference (ID # ...  07/10/07 Forest Oil Announces New Vice President of the Southern Region DENVER--(BUSINESS WIRE)--July 10, 2007--Forest Oil Corporation (NYSE: FST) (Forest or the Company) announced today that Mr. Ronald C. Nutt has been named Vice President - Southern Region. Mr. Nutt will be responsible for managing all aspects of Forest's Southern Region, which includes Forest's significant assets and operations in South Texas including the recently acquired fields from The Houston Exploration Company. The operations of the Southern Region will be maintained in Houston,...  06/13/07 Forest Oil Announces Final Results of Elections for Houston Exploration Merger Consideration DENVER--(BUSINESS WIRE)--June 13, 2007--Forest Oil Corporation (NYSE:FST) (Forest) announced the final allocation of merger consideration in its recent acquisition of The Houston Exploration Company (Houston Exploration). In the merger transaction, stockholders of Houston Exploration were offered a choice of receiving cash, or shares of Forest common stock, or a combination of cash and stock consideration. On June 6, 2007, Forest announced the preliminary election results and reported...  06/06/07 Forest Oil and Houston Exploration Announce Preliminary Results of Elections for Cash and Stock Merger Consideration DENVER--(BUSINESS WIRE)--June 6, 2007--Forest Oil Corporation (NYSE:FST) (Forest) and The Houston Exploration Company (NYSE:THX) (Houston Exploration) today announced that based on the preliminary results of elections received prior to yesterday's deadline for making a merger consideration election under Forest's merger agreement with Houston Exploration, the stock component is over subscribed. A total of approximately 28,559,499 shares of Houston Exploration common stock were outstan...  06/06/07 Forest Oil Announces the Close of the Houston Exploration Company Acquisition, $1 Billion Credit Facility Amendment, and $750 Million of 7.25% Senior Notes Due 2019 DENVER, Jun 06, 2007 (BUSINESS WIRE) -- Forest Oil Corporation (NYSE:FST) (Forest) announced today that it completed its previously announced acquisition of The Houston Exploration Company (NYSE:THX) (Houston Exploration). Houston Exploration's on-shore North American asset base consists of assets in South and East Texas, the Arkoma Basin, Eastern Colorado Niobrara and the Uinta Basin and will add a significant inventory of low-risk repeatable play drilling opportunities to Forest's portfo...  06/05/07 Forest Oil Announces Results of Special Meeting of Shareholders DENVER--(BUSINESS WIRE)--June 5, 2007--Forest Oil Corporation (NYSE: FST) (Forest or the Company) announced that at the special meeting of the Forest shareholders held earlier today, the shareholders approved the issuance of additional shares of common stock pursuant to the agreement and plan of merger among Forest, MJCO Corporation, a wholly owned subsidiary of Forest, and The Houston Exploration Company (NYSE: THX) (Houston Exploration). The shareholders also approved a new 2007 sto...  06/01/07 Forest Oil Announces Pricing of 7.25% Senior Notes Due 2019 DENVER--(BUSINESS WIRE)--June 1, 2007--Forest Oil Corporation (NYSE: FST) (Forest or the Company) today announced the pricing of a private placement of $750 million of 7.25% Senior Notes due 2019, an increase of $250 million from the amount previously announced. Forest plans to use the net proceeds from the offering to finance a portion of the cash consideration associated with The Houston Exploration Company (Houston Exploration) acquisition. Interest is payable June 15 and December ...  05/29/07 Forest Oil Announces Sale of Alaska Assets for Approximately $464 Million DENVER--(BUSINESS WIRE)--May 29, 2007--Forest Oil Corporation (NYSE:FST) (Forest or the Company) today announced a definitive agreement to sell 100% of its Alaskan assets, which includes its wholly-owned subsidiary, Forest Alaska Operating LLC (FAO), to Pacific Energy Resources Ltd. (TSX:PFE) (Pacific) for consideration of approximately $464 million made of up the following components: Cash of $380 million to repay the FAO term loans, Cash of approximately $68 million to be pa...  05/29/07 Forest Oil Announces Commencement of Private $500 Million Debt Offering DENVER--(BUSINESS WIRE)--May 29, 2007--Forest Oil Corporation (NYSE:FST) (Forest or the Company) announced today that it is commencing a private placement offering to eligible purchasers, subject to market and other conditions, of an aggregate $500 million principal amount of senior notes due 2019. Forest intends to use the proceeds of the offering to fund a portion of the cash merger consideration in connection with its pending acquisition of The Houston Exploration Company (Houston ...  05/07/07 Forest Oil Announces First Quarter Results Including Record Production in the Big Three Assets Adjusted net earnings per share increased 59% from 2006 Remainco to $.62 per share Adjusted EBITDA increased 34% from 2006 Remainco to $156 million Discretionary cash flow increased 19% from 2006 Remainco to $123 million Forest's Remainco first quarter production increased 6% year-over-year to 302 MMcfe/d despite severe winter weather downtime, refinery outages and delayed crude shipments Company again reports new record production rates at Buffalo Wallow, Wild River and Cotton Valley areas with...  05/01/07 Forest Oil Announces Special Meeting of Shareholders Scheduled for June 5, 2007 DENVER--(BUSINESS WIRE)--May 1, 2007--Forest Oil Corporation (NYSE:FST) (Forest or the Company) announced today that it has scheduled a special meeting of shareholders on June 5, 2007, at 10:00 a.m. MT, at Denver Marriott City Center, 1701 California Street, Denver, Colorado 80202, to (1) consider and vote on the proposal to approve the issuance of additional shares of Forest common stock pursuant to the Agreement and Plan of Merger, dated as of January 7, 2007, by and among Forest, M...  04/26/07 Forest Oil Announces Personnel Changes DENVER--(BUSINESS WIRE)--April 26, 2007--Forest Oil Corporation (NYSE: FST) (Forest or the Company) announced today several executive personnel changes. Mr. John C. Ridens has been recently named Senior Vice President, Western Region. Previously, Mr. Ridens served as Forest's Senior Vice President, Southern Region. Mr. Ridens has been directly involved with the Company's pending acquisition of The Houston Exploration Company ("Houston Exploration") and the on-going integration associa...  04/24/07 Forest Oil Announces First Quarter 2007 Earnings Release Date and Teleconference DENVER--(BUSINESS WIRE)--April 24, 2007--Forest Oil Corporation (NYSE: FST) has scheduled its first quarter 2007 earnings release to be issued after the close of trading on the New York Stock Exchange on Monday, May 7, 2007. A conference call is scheduled for Tuesday, May 8, 2007, at 10:00 am MT to discuss the release. You may access the call by dialing toll-free 800-399-6298 (for U.S./Canada) and 706-634-0924 (for International) and request the Forest Oil teleconference (ID #642...  02/26/07 Forest Oil Announces Fourth Quarter and Full Year 2006 Results Including Highly Successful 2006 Drilling Program Forest's Remainco reserve replacement ratio was 372% from all capital activities, with finding, development and acquisition costs of $2.15 per Mcfe Forest's Remainco organic reserve replacement ratio was 258%, with finding and development costs of $2.09 per Mcfe Forest's Remainco full year 2006 average net sales volumes increased 14% to 310 MMcfe/d Forest's Remainco all-in cash costs decreased on a per-unit basis by 4% in 2006 to $2.68 per Mcfe First Barnett Shale we...  02/05/07 Forest Oil Announces 2006 Estimated Proved Reserves and Production With Robust Reserve Replacement and Attractive F&D Costs and Schedules Year End Earnings Release and Teleconference Forest's reserve replacement ratio was 372% from all capital activities, with finding, development and acquisition costs of $2.15 per Mcfe Forest's organic reserve replacement ratio was 258%, with finding and development costs of $2.09 per Mcfe Forest's full year estimated 2006 average net sales volumes is anticipated to increase 14% to 310 MMcfe/d Forest updates hedging portfolio; adds 40 Bbtu/d for the last three quarters of 2007 related to the proposed acquisition of The Houston Exploration C...  01/07/07 Forest Oil to Acquire the Houston Exploration Company for $1.5 Billion Consideration will be 23.6 million Forest shares and $740 million cash Forest will add an estimated 655 Bcfe of proved reserves and estimated production of 205 MMcfe/d Adds significant South Texas, East Texas, and Arkoma Basin assets Forest intends to divest Alaska entity to reduce pro forma debt Forest worked with Houston Ex's largest shareholder, JANA Partners LLC, with the result that JANA agreed to vote for ...