Forest Oil Eagle Ford Acreage Map
Forest Oil's Eagle Ford JV should be announced in short order. The company opened its data room early in 2012 and plans to increase drilling activity after a partner is brought in.
Low natural gas prices are straining the company's capital plans. Capital raised through a jv partner will ensure the company can successfully develop its core acreage in the play. If a partner isn't found reasonably soon, the company will likely sacrifice leases in other areas of the country in favor of the Eagle Ford.
2012 has been a struggle for the company. Two executives have left, with the CEO being the most recent, and the company's stock has dropped approximately 50% since the beginning of the year.