Apache's (APA +1.6%) $2.85B deal for Cordillera should boost Forest Oil's (FST +8.7%) valuation,...

|About: Apache Corporation (APA)|By:, SA News Editor

Apache's (APA +1.6%) $2.85B deal for Cordillera should boost Forest Oil's (FST +8.7%) valuation, R.W. Baird says, contending that based on what APA is paying for Cordillera's daily output in Texas' Granite Wash play, FST's enterprise value should rise to $3.7B from $3B. "One could argue Forest's non-Panhandle assets are effectively free at current market valuations," Baird adds.