Summary: Forest Oil Corp. Mar 11
- ID: 1872261
- March 2011
- Standard & Poors
The rating on Denver-based Forest Oil Corp., an oil and gas exploration and production (E&P) company, reflects the capital-intensive and cyclical nature of the E&P industry and a production mix that is heavily weighted toward weak natural gas prices. Ratings also reflect the company's good liquidity, onshore geographic diversity, and the relatively low-risk nature of its drilling program. Standard & Poor's Ratings Services characterizes Forest's business profile as fair. The company had 2.2 trillion cubic feet equivalent of estimated proved reserves (60% proved developed and 78% natural gas) as of year-end 2010, leaving Forest as one of the largest E&P companies at the 'BB-' rating category. Revenues derived from high-priced liquids improved to 50% in the fourth quarter of 2010...
Companies mentioned in this report are:
- Sabine Oil & Gas Corp.
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