Forest Oil completes merger with Forcenergy
Forest Oil Corp. has completed its merger with Forcenergy Inc.
Forest said shareholders of both companies overwhelmingly approved the merger at special meetings of shareholders held Dec. 7. Forest shareholders also approved a 1-for-2 reverse stock split of the Forest common shares.
The new company has 530 employees, 10 directors from Forest and two from the former Forcenergy and is headquartered in Denver.
Robert Boswell is chairman of the board and chief executive officer for the combined company and Richard Zepernick Jr. is president and chief operating officer.
David Keyte is executive vice president and chief financial officer.
Gary Carlson, senior vice president Alaska, is one of six senior vice presidents in the combined organization.
Production jumps for November as Alpine comes on line
Alaska North Slope crude oil production jumped in November as the Alpine field came on line Nov. 15, bringing average North Slope production to 1,016,651 barrels a day, up 2.35 percent (23,334 barrels) from the October average of 993,317 barrels a month.
Production from Alpine averaged 29,974 barrels over the half month the field was in production.
Production increased at Kuparuk, averaging 236,122 barrels a day, up 1,436 barrels a day (0.61 percent) from an October average of 234,686 barrels a day.
Endicott production was also up, averaging 39,557 barrels a month in November, up 508 barrels a day (1.3 percent) from an October average of 39,049 barrels a day.
Production from Prudhoe Bay (down for scheduled maintenance Nov. 20) averaged 569,991 barrels a day, down 7,040 barrels a day (1.22 percent) from an October average of 577,031 barrels a day.
Lisburne production was also down, averaging 90,777 barrels a day (down 1,524 barrels a day), a 1.65 percent drop from average October production of 92,301 barrels a day.
Milne Point averaged 50,230 barrels a day in November, down 20 barrels a day (0.04 percent) from an October average of 50,250 barrels a day.
Cook Inlet production dropped to 28,520 barrels a day, down 2,533 barrels a day (8.16 percent) from an October average of 31,053 barrels a day.
All crude production in the state averaged 1,045,171 barrels a day in November, up 20,801 barrels a day (2.03 percent) from an October average of 1,024,370 barrels a day.