FOREST OIL CORPORATION INTRODUCTION TO THE UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL STATEMENTSPurchase and Sale Agreement • December 16th, 2014 • Forest Oil Corp • Crude petroleum & natural gas
Contract Type FiledDecember 16th, 2014 Company IndustryOn November 17, 2014, Forest Oil Corporation (“Forest”) entered into an Agreement for Purchase and Sale of Assets with Camterra Resources Partners, Ltd (“Camterra”). Pursuant to the purchase and sale agreement, Forest agreed to sell to Camterra natural gas properties located in the Arkoma Basin (the “Arkoma Gas Assets”) and various other related assets (together with the Arkoma Gas Assets, the “Arkoma Assets”). The transaction closed on December 15, 2014. The sales price of the Arkoma Assets was $185 million, which is subject to customary adjustments to reflect an economic effective date of October 1, 2014. Forest received $9 million of the sales price as a deposit upon execution of the purchase and sale agreement and $175 million at closing.