0000038079-14-000013.txt : 20140204 0000038079-14-000013.hdr.sgml : 20140204 20140203190355 ACCESSION NUMBER: 0000038079-14-000013 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20140130 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities FILED AS OF DATE: 20140204 DATE AS OF CHANGE: 20140203 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FOREST OIL CORP CENTRAL INDEX KEY: 0000038079 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 250484900 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-13515 FILM NUMBER: 14569582 BUSINESS ADDRESS: STREET 1: 707 SEVENTEENTH STREET STREET 2: SUITE 3600 CITY: DENVER STATE: CO ZIP: 80202 BUSINESS PHONE: 3038121400 MAIL ADDRESS: STREET 1: 707 SEVENTEENTH STREET STREET 2: SUITE 3600 CITY: DENVER STATE: CO ZIP: 80202 FORMER COMPANY: FORMER CONFORMED NAME: Forest Oil CORP DATE OF NAME CHANGE: 20040819 FORMER COMPANY: FORMER CONFORMED NAME: FOREST OIL CORP DATE OF NAME CHANGE: 19920703 8-K/A 1 a8-kafeb3_141.htm 8-K/A 8-K/AFeb3_14 (1)


 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
 
 
 
 
 
 
 
FORM 8-K/A
 
(Amendment No. 1)
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):  January 30, 2014
FOREST OIL CORPORATION
(Exact name of registrant as specified in its charter)
New York
(State or other jurisdiction of incorporation)
1-13515
 
25-0484900
(Commission File Number)
 
(IRS Employer Identification No.)
 
 
 
707 17th Street, Suite 3600, Denver, Colorado
 
80202
(Address of principal executive offices)
 
(Zip Code)
 
 
 
303.812.1400
(Registrant’s telephone number, including area code)
 
 
 
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))







 



This Amendment No. 1 to Form 8-K for Forest Oil Corporation is filed solely for purposes of amending the original Form 8-K for Forest filed on February 3, 2014 (the "Original 8-K"), to change the item number listed in the body thereof from Item 8.01 to Item 2.05. Other than as set forth in the preceding sentence, no other changes have been made to the Original 8-K.

Item 2.05.    Costs Associated with Exit or Disposal Activities

On January 30, 2014, Forest Oil Corporation commenced the initial steps in winding up its vertically integrated drilling operations, transitioning to the exclusive use of third-party drilling rigs. Forest expects to complete this process on or before August 31, 2014. This course of action involves a workforce reduction, among other things, and Forest estimates that it will incur costs ranging from approximately $6,500,000 to approximately $7,500,000, including the costs stated below:
•
An estimated $5,500,000 to $6,500,000 related to the termination of drilling rig operating leases;

•
Approximately $760,000 in severance payments for certain terminated employees; and

•
Approximately $210,000 in costs related to the acceleration of equity awards for certain terminated employees.


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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
FOREST OIL CORPORATION
(Registrant)
 
 
 
February 3, 2014
By:
/s/ Richard W. Schelin
 
 
Richard W. Schelin
Vice President, General Counsel
and Secretary

 
 
 
 


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