Forest Oil to auction Permian properties to Sandridge for $800M

11/30/2009 | Reuters

A subsidiary of Sandridge Energy has struck a deal to purchase remaining assets that Forest Oil has in the Permian Basin, paying about $800 million. The agreement, set to be finalized before the end of the year, includes fields in New Mexico and West Texas that are generating 46 million cubic feet of equivalent per day and have estimated proved reserves of 321 billion cubic feet equivalent.

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