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BULLETIN: Forest Oil Corp. Announces Initial Production From Redoubt Shoal Dec 02
Standard & Poors, Dec 2002
Abstract
Standard & Poor's Ratings Services said today that Forest Oil Corp.'s (BB/Positive/--) announcement that it has commenced production at its Redoubt Shoal field in the Cook Inlet of Alaska would not immediately affect the company's ratings or outlook. The field, in which Forest has a 100% working interest, came onstream Dec. 9, 2002, and is currently producing in excess of 4,200 barrels of oil per day from two of the four wells capable of production. Production is expected to be maintained near this rate until new onshore production facilities are completed. Forest's ability to increase production to expected daily capacity at Redoubt Shoal in the very near term will likely determine whether ratings are raised or stay the same....
Companies mentioned in this report are: Forest Oil Corp.
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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