Schlumberger Inks $90M Eagle Ford Share Buy

Law360, New York (April 12, 2013, 12:12 PM EDT) -- Houston-based oilfield services company Schlumberger Ltd. has agreed to put up $90 million for a 50 percent working interest in Forest Oil Corp.'s Eagle Ford Shale property, Forest Oil announced Friday.

Schlumberger will pay a $90 million drilling carry in the form of development capital and future drilling and completion services and will participate in drilling on Forest Oil's Gonzales County, Texas, property on a 50-50 basis, Forest Oil said.

Patrick R. McDonald, Denver-based Forest Oil's president and CEO, said the collaboration would greatly enhance the...
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