Forest Oil (FST -6.5%) slumps after providing announcing Q2 sales volumes and issuing 2H...

|About: Forest Oil Corporation (FST)|By:, SA News Editor

Forest Oil (FST -6.5%) slumps after providing announcing Q2 sales volumes and issuing 2H production and capex guidance. 2H net sales volumes are expected to decline 2%-5%, as declining natural gas production offsets increasing crude production. Capex is expected to drop 52%-56% to $190M-$210M, as Forest dials back its Eagle Ford shale investments. RBC is downgrading shares to Sector Perform in response. (PR)