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Forest Oil Completes Exchange Offer for Canadian Forest's 8-3/4% Senior Subordinated Notes Due 2007
Business Wire, Dec 19, 1997
DENVER--(BUSINESS WIRE)--Dec. 19, 1997--Forest Oil Corporation (the "Company") and Canadian Forest Oil Ltd. (the "Issuer") announced today the closing of the Exchange Offer for the Issuer's 8-3/4% Senior Subordinated Notes due 2007 (the "Senior Notes").
The Company and the issuer commenced the Exchange Offer on Nov. 11, 1997 and it expired on Dec. 18, 1997. Of the $125,000,000 aggregate principal amount of Notes currently outstanding, all but $50,000 aggregate principal amount of Notes have been tendered for exchange in the Exchange Offer.
Forest Oil Corp. is engaged in the acquisition, exploration, development, production and marketing of natural gas and crude oil in North America. Forest's principal reserves and producing properties are located in the Gulf of Mexico, Texas, Oklahoma, Wyoming and Canada. Forest's common stock trades on the New York Stock Exchange under the symbol FST.
CONTACT: Forest Oil Corp., Denver
Donald H. Stevens, 303/812-1500 (vice president)
Zack Hager Jr., 303/812-1610 (investor relations)
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