Forest Oil Continues Selloff With $1B Texas Panhandle Deal

Law360, New York (October 4, 2013, 4:22 PM EDT) -- Forest Oil Corp. has sold its oil and gas assets in the Texas Panhandle for $1 billion to Oklahoma-based Templar Energy LLC, which is backed by energy-focused private equity firm First Reserve Corp., the companies announced Friday.

Le Norman Operating LLC, a wholly owned subsidiary of Templar, will operate the assets, which have produced 100 million cubic feet of gas equivalent per day so far this year and had estimated proven reserves of 517 billion cubic feet of gas equivalent, according to Forest Oil. The deal...
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