Forest Oil Pockets $325M In Sale Of South Texas Gas Assets

Law360, New York (January 3, 2013, 1:23 PM EST) -- Forest Oil Corp. has agreed to unload all of its properties in South Texas, except for those in the Eagle Ford Shale, for $325 million as it continues to pay down debt by selling assets in the South, the oil and gas giant announced Thursday.

A Forest Oil spokesman declined to disclose who bought the natural gas properties in South Texas. The deal is expected to close on or before Feb. 15 with an effective date of Jan. 1, the company said.

Forest Oil said the...
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