Forest reports first quarter loss; drills 13 new wells with 77 percent success rateProduction slips in quarter; partly due to tanker lifting delays in Alaska cutting production by more than 2,000 daily barrels Allen Baker PNA Contributing Writer
Forest Oil Corp. reported a loss of $1.8 million in the first quarter as production slid along with prices. Forest, based in Denver, had a much bigger loss in the fourth quarter — $29.7 million, due partly to unusual items such as a $10 million Enron writeoff.
In the year-ago quarter, Forest earned....
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Production permits in for Redoubt
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