Forest Oil completes sales deal with SandRidge for Permian assets

12/21/2009 | Google

Forest Oil has finalized the sale of its Permian Basin assets worth $800 million to SandRidge Energy. The company also changed its oil and gas net sales volumes for 2009 because the transaction occurred earlier than expected. The earnings will be used to repay Forest's debt under its U.S. and Canadian credit facilities and redeem its senior notes, which are worth $150 million and are due in 2014.

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