Yesterday after the close, Forest Oil (FST) reported its operating and financial results for the third quarter. Overall, the company's key operating measures came reasonably close to the guidance (production shortfall was attributable mostly to the Texas Panhandle division which is held for sale). However, the Eagle Ford operating report did not yield the much hoped for step change in well performance that would help address the downside risk inherent in the stock's valuation (which became particularly pronounced with the announced divestiture of the company's core Panhandle asset). Moreover, the report of six wells that appear disappointing dilutes the otherwise positive well performance trend in the Eagle Ford.
Eagle Ford Results Disappoint
In its press release, Forest reported...
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