0000912057-01-538078.txt : 20011128
0000912057-01-538078.hdr.sgml : 20011128
ACCESSION NUMBER: 0000912057-01-538078
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20011106
ITEM INFORMATION: Other events
ITEM INFORMATION: Financial statements and exhibits
FILED AS OF DATE: 20011107
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
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-13515
FILM NUMBER: 1777494
BUSINESS ADDRESS:
STREET 1: 1600 BROADWAY
STREET 2: 2200 COLORADO STATE BANK BLDG
CITY: DENVER
STATE: CO
ZIP: 80202
BUSINESS PHONE: 3038121400
8-K
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a2062736z8-k.txt
8-K
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 6, 2001
FOREST OIL CORPORATION
(Exact name of registrant as specified in charter)
New York 1-13515 25-0484900
(State or other juris- (Commission (IRS Employer
diction of incorporation) file number) Identification No.)
2200 Colorado State Bank Building, 1600 Broadway, Denver, CO 80202
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 812-1400
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ITEM 5. OTHER EVENTS.
On November 6, 2001, Forest Oil Corporation issued a press release
announcing that it had entered into a memorandum of understanding with Unocal
Corporation to jointly explore and exploit certain properties in the central
Gulf of Mexico, primarily in the South Marsh Island and Vermilion areas of
the shelf, subject to the completion of negotiations and definitive
agreements. The press release is attached hereto as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Financial Statements.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits.
Exhibit Description
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99.1 Forest Oil Corporation press release dated November 6, 2001,
entitled "Forest Oil and Unocal sign MOU for joint exploration
on Gulf of Mexico Shelf"
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)
Dated: November 7, 2001 By /s/ Joan C. Sonnen
----------------------------------------
Joan C. Sonnen
Vice President - Controller
And Chief Accounting Officer
INDEX TO EXHIBITS FILED WITH THE CURRENT REPORT ON FORM 8-K
EXHIBIT DESCRIPTION
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99.1 Forest Oil Corporation press release dated November 6, 2001,
entitled "Forest Oil and Unocal sign MOU for joint exploration on
Gulf of Mexico Shelf"
EX-99.1
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a2062736zex-99_1.txt
EXHIBIT 99.1
FOREST OIL CORPORATION UNOCAL CORPORATION
1600 Broadway, Suite 2200 2141 Rosecrans Avenue, Suite 4000
Denver, Colorado 80202 El Segundo, California 90245
[FOREST OIL LOGO] [UNOCAL 76 LOGO]
NEWS RELEASE
Contact: Donald H. Stevens Christine LeLaurin (UCL Media)
Vice President and 281-287-5793
Treasurer Robert Wright (UCL Investors)
303-812-1500 310-726-7665
FOREST OIL AND UNOCAL SIGN MOU FOR JOINT EXPLORATION ON GULF OF MEXICO SHELF
Denver, Colo., Nov. 6, 2001 - Forest Oil Corporation (NYSE: FST) and
Unocal Corporation (NYSE: UCL) have signed a memorandum of understanding to
jointly explore and exploit certain properties in the central Gulf of Mexico,
primarily in the South Marsh Island and Vermilion areas of the shelf.
Under the proposed transaction, Unocal would acquire a portion of
Forest's proved reserves, estimated at about 4 percent of Forest's proved
reserve base and 5 percent of Forest's current production. Unocal would
acquire 50 percent of Forest's interest in South Marsh Island and a portion
of the Vermilion areas offshore central Louisiana for $120 million in cash.
Unocal would operate the jointly owned properties, working with Forest to
fully exploit and explore these properties and other leases in the Gulf of
Mexico.
The companies are currently negotiating the details of the
transaction, including commitments that Unocal would make related to
additional drilling and seismic analysis on certain leases held by Forest.
Detailed terms were not disclosed, pending completion of
negotiations and definitive agreements. The parties expect to conclude
negotiations, execute binding and definitive agreements, and close the
transaction by Dec. 1.
ABOUT FOREST OIL
Forest Oil Corporation is engaged in the acquisition, exploration,
development, production and marketing of natural gas and crude oil in North
America and selected international locations. Forest's principal reserves and
producing properties are located in the United States in the Gulf of Mexico,
Louisiana, Texas and Alaska, and in Canada in Alberta and the Northwest
Territories. For more information about the company, please visit its website
at WWW.FORESTOIL.COM.
ABOUT UNOCAL CORPORATION
Unocal is one of the world's leading independent natural gas and oil
exploration and production companies. The company's principal exploration and
production operations are located in North America (Gulf of Mexico region,
Alaska and Canada) and in Asia (Thailand, Indonesia, Myanmar, Bangladesh and
Azerbaijan). The company is also pursuing exploration in West Africa and
Brazil. For more information visit the company's website at WWW.UNOCAL.COM
* * * * *
THIS NEWS RELEASE CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS ABOUT FUTURE
BUSINESS TRANSACTIONS AND AGREEMENTS. THERE CAN BE NO ASSURANCES THAT
DEFINITIVE AGREEMENTS WILL BE ENTERED INTO BY THE PARTIES. THE STATEMENTS ARE
BASED UPON UNOCAL OR FOREST OIL'S CURRENT EXPECTATIONS AND BELIEFS AND ARE
SUBJECT TO A NUMBER OF KNOWN AND UNKNOWN RISKS AND UNCERTAINTIES THAT COULD
CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD
LOOKING STATEMENTS. ACTUAL RESULTS COULD DIFFER MATERIALLY AS A RESULT OF
FACTORS DISCUSSED IN UNOCAL'S AND FOREST OIL'S 2000 FORM 10-KS AND OTHER
REPORTS FILED WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION. UNOCAL AND
FOREST OIL UNDERTAKE NO OBLIGATION TO UPDATE THE INFORMATION IN THIS NEWS
RELEASE.
COPIES OF UNOCAL'S SEC FILINGS ARE AVAILABLE FROM THE COMPANY BY CALLING
800-252-2233. THE REPORTS ARE ALSO AVAILABLE ON THE UNOCAL WEBSITE,
WWW.UNOCAL.COM. FOREST OIL'S REPORTS ARE AVAILABLE ON THE SEC'S WEBSITE,
WWW.SEC.GOV.