Pacific Energy Resources buys Forest Oil's Alaska assets.
Forest Oil Corp. said Monday it closed on the sale of its Alaskan assets.
Denver-based Forest Oil (NYSE: FST) sold the assets to Pacific Energy
Resources Ltd. of Long Beach. The assets included subsidiary company Forest Alaska Operating LLC.
Forest Oil Corp. said Monday it closed on the sale of its Alaskan assets.
Denver-based Forest Oil (NYSE: FST) sold the assets to Pacific Energy
Resources Ltd. of Long Beach. The assets included subsidiary company Forest Alaska Operating LLC.The majority of the company's Alaskan assets were transferred in October to Forest Alaska, which obtained a $375 million loan for initial working capital.
The purchase price included $268 million, which repaid the full balance of the Forest Alaska term loans, $132 million in 
cash, 10 million shares of Pacific common stock and a $60.75 million senior subordinated note from Pacific due in 2014.
The sale leaves Forest Oil with producing assets of the company located entirely onshore North America.
Via:Business Journals
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