Forest Oil (FST +3.5%) is upgraded to Equalweight from Underweight at Morgan Stanley. Analyst...


Forest Oil (FST +3.5%) is upgraded to Equalweight from Underweight at Morgan Stanley. Analyst Drew Venker says "the unpredictable nature of the divestiture process" makes him uncomfortable taking an Overweight stance ahead of a possible Texas Panhandle asset sale (previous). Venker says $750M in proceeds from a potential sale implies "fair value based on [an] NAV analysis." Others have the deal bringing between $900M-1B.

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  • iamafarmerntx
    , contributor
    Comments (13) | Send Message
     
    Is Forest planning to sell 100% or will they retain a percentage of the Texas Panhandle acreage?

     

    This sale would go a long way to get the company out of debt. But what would it do to Forest's prospects of drilling and production in the future? Their Eagle Ford acreage is not in the sweet spot and it won't give them the production potential that EOG has.
    18 Jul 2013, 11:11 AM Reply Like
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