Morgan Stanley Upgrades Forest Oil (FST) to Equalweight
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May 6, 2014 7:39 AM EDT
Sabine Oil & Gas LLC and Forest Oil Corporation (NYSE: FST) announced the signing of a definitive merger agreement under which Sabine and Forest will combine their businesses in an all-stock transaction. Sabine and Forests highly complementary asset portfolios will create one of the industrys largest East Texas players, benefiting from drilling program optimization and economies of scale. The combination is also strengthened by a sizable collective Eagle Ford position, as well as Granite Wash, Permian and Arkoma positions that provide optionality for development and monetization.
Upon completion of the combination transaction, Sabine unit... More
May 6, 2014 7:38 AM EDT
Forest Oil Corp. (NYSE: FST) reported Q1 EPS of ($0.02), in-line with the analyst estimate of ($0.02). Revenue for the quarter came in at $65.19 million versus the consensus estimate of $65.2 million.
For earnings history and earnings-related data on Forest Oil Corp. (FST) click here.
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