Forest Oil officials told analysts yesterday that the company plans to drill three to five of its onshore Cook Inlet prospects this year, subject to rig availability.
The company also said it has signed a two-year gas sales contract on the west side of Cook Inlet for gas from West Foreland.
Forest, a 30 percent partner with Aurora Gas in the Three Mile Creek unit, will also be participating in drilling at that west side gas discovery.
Craig Clark, Forest’s president and chief executive officer, said the gas sales contract is for sales of 5 million cubic feet a day, with sales to begin in the fourth quarter. The West Foreland well, he said, tested at 15 million cubic feet a day, so more gas is available for sale.
As for the drilling on its own acreage, Clark said Forest has five onshore prospects in the Cook Inlet area, based on old drilling or new seismic or leasing. These are 5,000 foot to 13,000 foot targets, he said, and some of the prospects would involve deepening existing well bores.
