Recovery Report: Forest Oil Corp.'s Recovery Rating Profile Jun 10
- ID: 1871816
- June 2010
- Standard & Poors
We are updating our recovery analysis on U.S. gas and oil exploration and production company Forest Oil Corp. (Forest) to reflect an updated valuation of year-end 2009 reserves based on a company-provided PV10 report using our revised long-term price assumptions of $65 per barrel of West Texas Intermediate crude oil and $5.50 per million BTU of Henry Hub natural gas. On May 28, 2010, we lowered the issue-level rating on the senior unsecured notes to 'B+' (one notch below the corporate credit rating) from 'BB-', and revised the recovery rating on those notes to '5' from '4'. Forest is a U.S.-based oil and natural gas company with properties located primarily in Arkansas, Louisiana, New Mexico, Oklahoma, Texas, Utah, Wyoming, and...
Companies mentioned in this report are:
- Sabine Oil & Gas Corp.
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