Forest Oil forms Alaska subsidiary

By OGJ editors
HOUSTON, Nov. 6 -- Forest Oil Corp., Denver, has transferred the majority of its Alaska business unit to a new subsidiary, Forest Alaska Operating LLC (Alaska), which will hold and operate the parent's oil and gas interests in Cook Inlet.

As of Sept. 30 Forest Alaska has 32 million boe of proved reserves and production of 6,000 boe/d. The company plans to focus on development of McArthur River field.

The subsidiary owns 186,000 net acres of developed and undeveloped land and interests in production and drilling infrastructure.

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