Last $1.93 USD
Change Today +0.04 / 2.12%
Volume 3.2M
FST On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

forest oil corp (FST) Snapshot

Open
$1.88
Previous Close
$1.89
Day High
$1.94
Day Low
$1.86
52 Week High
09/18/13 - $6.67
52 Week Low
03/14/14 - $1.68
Market Cap
229.8M
Average Volume 10 Days
2.4M
EPS TTM
$0.14
Shares Outstanding
119.1M
EX-Date
09/3/91
P/E TM
13.6x
Dividend
--
Dividend Yield
--
Current Stock Chart for FOREST OIL CORP (FST)

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forest oil corp (FST) Details

Forest Oil Corporation, an independent oil and gas company, is engaged in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids primarily in North America. As of December 31, 2013, it primarily had interest in 162,000 net acres in the Ark-La-Tex in East Texas, Louisiana, and Arkansas; 24,500 net acres in the Eagle Ford located in Gonzales County in South Texas; and 63,500 net acres in the Permian Basin in West Texas. It also had approximately 625 billion cubic feet equivalent of total estimated proved oil and gas reserves in the United States. The company was founded in 1916 and is headquartered in Denver, Colorado.

363 Employees
Last Reported Date: 02/26/14
Founded in 1916

forest oil corp (FST) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $655.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $437.8K
Senior Vice President of Corporate Engineerin...
Total Annual Compensation: $412.3K
Senior Vice President of Southern Region
Total Annual Compensation: $352.6K
Compensation as of Fiscal Year 2013.

forest oil corp (FST) Key Developments

Forest Oil Corporation Enters into Second Amendment to its Third Amended and Restated Credit Agreement

On March 31, 2014, Forest Oil Corporation entered into the second amendment to its third amended and restated credit agreement by and among Forest, the Lenders party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent. The First Amendment amends the Credit Agreement by, among other things: Amending the definition of Consolidated Net Income by excluding therefrom any losses associated with, or related to, Lantern Drilling for any period of four consecutive fiscal quarters ending in calendar year 2014, in an amount up to $15,000,000, and ending in calendar year 2015, in an amount up to $5,000,000; amending the definition of total debt to exclude therefrom, during any period of four fiscal quarters ending on or before September 30, 2015, any cash proceeds from the sale of Property permitted pursuant to the terms and provisions of the Loan Documents which is reported in Forest’s consolidated balance sheet on such date which are not subject to any Lien or other encumbrance; Providing that Forest will not permit, as of the last day of any fiscal quarter, the ratio of its Total Debt as of such date to EBITDA to be greater than at the end of any calendar quarters ending on March 31, 2014, June 30, 2014, and September 30, 2014, 5.75 to 1.0, at the end of the calendar quarter ending December 31, 2014, 5.50 to 1.0, at the end of the calendar quarter ending March 31, 2015, 5.25 to 1.0, at the end of the calendar quarter ending June 30, 2015, 5.00 to 1.0, (e) at the end of the calendar quarter ending September 30, 2015, 4.75 to 1.0, and (f) at the end of any calendar quarter ending after September 30, 2015, 4.50 to 1.0; Putting certain restrictions on the ability of forest to make restricted payments in cash or Property not constituting equity interests or prepayments on permitted indebtedness; decreasing the aggregate commitments under the credit facility from $1,500,000,000 to $500,000,000 (which may be increased by up to $300,000,000 in the aggregate), and decreasing the borrowing Base to $300,000,000 until the next regularly scheduled Borrowing Base redetermination a of November 1, 2014 or such other time as the borrowing base is to be redetermined in accordance with Section 2.7 of the Credit Facility.

Forest Oil Seeks Acquisitions

Forest Oil Corporation (NYSE:FST) is looking for acquisition opportunities. Patrick McDonald, President and Chief Executive Officer of Forest Oil said, “We're actively acquiring land and looking at, like you say, contiguous or bolt-on-type acquisitions. We're not really looking for any big, large transaction, which most of the marketed transactions seem to be of significant size. So, we're focused on developing the acreage that we already have and blocking out our positions, both in east Texas and in the Eagle Ford, and we’re doing that successfully in both areas.”

Forest Oil Corporation Announces Unaudited Consolidated Earnings Results for Fourth Quarter and Full Year Ended Dec. 31, 2013; Updates Guidance for the Year 2014

Forest Oil Corporation announced unaudited consolidated earnings results for fourth quarter and full year ended Dec. 31, 2013. For the quarter, the company reported total revenues of $88,490,000, earnings before income taxes of $105,974,000, net earnings of $106,219,000 or $0.89 per basic and diluted share, net cash provided by operating activities of $17,774,000, capital expenditures for property and equipment: exploration, development, acquisition, and leasehold costs of $73,048,000 compared to the total revenues of $154,927,000, earnings before loss taxes of $288,365,000, net loss of $286,533,000 or $2.48 per basic and diluted share, net cash provided by operating activities of $85,830,000, capital expenditures for property and equipment: exploration, development, acquisition, and leasehold costs of $122,654,000 for the same quarter a year ago. Adjusted EBITDA was $65,179,000 compared to the $132,366,000 for the same quarter year ago. Adjusted net earnings were $2,723,000 or $0.02 per diluted share compared to the $16,992,000 or $0.14 per diluted share for the same quarter year ago. For the year, the company reported total revenues of $441,672,000, earnings before income taxes of $73,217,000, net earnings of $73,924,000 or $0.62 per basic and diluted share, net cash provided by operating activities of $201,759,000, capital expenditures for property and equipment: exploration, development, acquisition, and leasehold costs of $363,971,000 compared to the total revenues of $605,659,000, earnings before loss taxes of $1,115,494,000, net loss of $1,288,931,000 or $11.21 per basic and diluted share, net cash provided by operating activities of $371,655,000, capital expenditures for property and equipment: exploration, development, acquisition, and leasehold costs of $721,536,000 for the previous year. Adjusted EBITDA was $332,888,000 compared to the $513,609,000 for the previous year. Adjusted net earnings were $20,381,000 or $0.17 per diluted share compared to the $48,386,000 or $0.41 per diluted share for the previous year. The company updating its 2014 guidance that was initially provided on December 2, 2013. The drilling and completion capital budget will be allocated approximately 64% to the Ark-La-Tex and 36% to the Eagle Ford. Average net sales volumes are estimated to be comprised of approximately 35% oil and natural gas liquids and 65% natural gas. Production expense, which includes lease operating expense, ad valorem taxes, production taxes, and product processing, gathering and transportation is expected to average $1.55 to $1.65 per Mcfe. Depreciation, depletion and amortization expense is expected to be $2.45 to $2.65 per Mcfe.

 

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Industry Analysis

FST

Industry Average

Valuation FST Industry Range
Price/Earnings 3.1x
Price/Sales 0.5x
Price/Book 4.1x
Price/Cash Flow 0.9x
TEV/Sales NM Not Meaningful
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