Forest Oil Corporation Valuation Report, July 2010 - Strategic and Operational Analysis


#29083

130pages

GlobalData

$ 3500

In Stock


Apache Corporation, an independent company, is engaged in exploration, development and production of crude oil, natural gas and natural gas liquids. The company holds diversified and balanced oil and gas portfolio globally. Apace has an E&P operation in seven regions spanning across five continents U.S. Gulf Coast, U.S. Central, Egypt, Australia, North Sea, Canada and Argentina. The North America region (U.S. Golf Coast, Central, and Canada) contributed around 48% of total production whereas International region (Egypt, Australia, North Sea, and Argentina) contributed around 52% in 2009. The company has achieved the economy of scale in all the regions that enable the company to reduce it’s per unit cost of production and operational risk. No single region contributed more than 27% of production in 2009 indicating well-diversified asset portfolio.

Scope

  • Investment Thesis: This section highlights the companies new ventures, liquidity issues, assets analysis, hedging, new projects details, capex funding, geographical results of oil and gas operations, and other related analysis.
  • Goals and Strategies: Provide highlights on their existing and upcoming challenges with the possible strategies.
  • SWOT: This section highlights the companies internal strength, weakness, opportunities and threats to better understand their position in the market
  • Production and Development profile: This section highlights the companies’ forecasted crude oil and natural gas production from their existing and upcoming assets. It also covers the detailed information and analysis on the producing and development assets.
  • Exploration and M&A trends: This section includes exploration assets information resulted due to new discoveries, new drilling and other activities. Additionally, M&A section highlights the companies’ recent assets transactions, joint ventures, acquisition, and divestment activities during the specified period.
  • Financial Forecast and Valuation: This section highlights the detailed financial forecast of the companies for coming five years. This section also provides intrinsic value of the companies’ by using different valuation techniques.
  • Peer Group: This section compares peer group performance with the main companies on the basis of share prices, financial ratios, operational and financial parameters and other related activities.

Reasons to buy

The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to:

  • Provide detailed analysis to those who are interested in knowing the companies’ existing and future business strategies.
  • Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates.
  • Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies.
  • Use the analysis for strategy and planning, M&A identifications, and competitor analysis.
Table Of Contents

1 Table of contents 3
1.1 List of Tables 6
1.2 List of Figures 7

2 Forest Oil Corporation, Company Overview 10

3 Forest Oil Corporation, Watchlist for 2010 13

4 Forest Oil Corporation, Investment Summary 14
4.1 Forest Oils Texas Panhandle Will Emerge as The Largest Contributor to The Production; Granite Wash Development Holds The Key 14
4.2 Cotton Valley/ Haynesville Formations, Switch To Horizontal Drilling To Increase Operational Efficiency 16
4.3 Canadian Deep Basin Area - Multiple Formations For Potential Drilling; Dependent On Evi Light Oil To Add Liquids 17
4.4 Forest Oils Capital Expenditure Mainly Depends On Internally Generated Cash Flow; Asset Sales Set To Improve Debt To Equity Level 19

5 Forest Oil Corporation, SWOT Analysis 22
5.1 Strengths 22
5.1.1 Low Cost Operator; Stand-out Among Its Peers 22
5.1.2 Core Assets Concentrated in The US And Canada Offering Repeatable Plays 22
5.2 Weakness 22
5.2.1 Declining Profitability 22
5.3 Opportunities 23
5.3.1 Substantial Potential In Texas Panhandle, Canadian Deep Basin Along With Shale Plays; Focus Shifted To Horizontal Drilling To Increase Recovery Potential 23
5.3.2 Divestitures Of Non-Operated Interests To Create More Concentrated Portfolio 23
5.4 Threat 23
5.4.1 Low Liquids Content In Production Might Dent Forest Oils Revenues in The Near Future 23

6 Forest Oil Corporation, Goals and Strategies 24
6.1 Maintain The Asset Portfolio Focusing On Repeatable Resource Plays 24
6.2 Control Operating Costs To Achieve Operational Efficiency 24
6.3 Maintain Financial Flexibility To Make Viable Capex Decisions 25

7 Forest Oil Corporation, Production Overview 27
7.1 Production Profile 27
7.2 Texas Panhandle Area To Emerge as The Major Production Growth Area for Forest Oil 28
7.3 Forest Oils East Texas/ North Louisiana Region is Expected to Witness Reduced Activity Due To Weak Gas Prices 28
7.4 Nikanassin Development is Likely to Increase the Companys Canadian Production 29
7.5 South Texas And Others 29

8 Forest Oil Corporation, Development Overview 30
8.1 Development Profile 30
8.2 Granite Wash And Morrow Development Form Major Activity In Texas Panhandle 31
8.3 Shale Development To Benefit Forest Oil In The Long Term; Extensive Additions Of Acreage Continues 32
8.4 Deep Basin Development A Low Risk Event; Nikanassin Could Become New Growth Driver In The Region 32

9 Forest Oil Corporation, Exploration and M&A Highlights 34
9.1 Utica Shale Has Significant Potential As Per Industry Estimates; Forest Oil Looking For More Data 34
9.2 Uptrend In Organic Reserve Additions 35
9.3 M&A Activity 37

10 Forest Oil Corporation, Outlook 39

11 Forest Oil Corporation, Forecast Production & Financial Statements 40
11.1 Income Statement (20072014E) 42
11.2 Balance Sheet (20072014E) 43
11.3 Cash Flow Statement (20072014E) 44
11.4 Financial Ratios (20072014E) 45

12 Forest Oil Corporation, Valuation 48
12.1 Net Asset Value 48

13 Forest Oil Corporation, Peer Comparision 51
13.1 Share Price Performance 51
13.2 Operational And Financial Performance 52

14 Forest Oil Corporation, Key Risks 55
14.1 Volatile Commodity Price 55
14.2 Reserve Replacement 55
14.3 Competition with peers 55

15 Forest Oil Corporation, Detailed Operational & Financial Analysis 56
15.1 Forest Oil Corporation, Quarterly Results of Oil & Gas Operations Per boe Produced 56
15.1.1 Results of Oil & Gas Operations Per boe Produced 56
15.1.2 Results of Oil & Gas Operations Per boe Growth Rates 57
15.2 Forest Oil Corporation, Quarterly E&P Costs Trends 58
15.2.1 Upstream Capital Expenditure 58
15.3 Forest Oil Corporation, Quarterly Production Trends 59
15.3.1 Total Crude Oil and Natural Gas Production Trend 59
15.3.2 Total Crude Oil & Natural Gas Production, By Country/Region, Q1, 2009-Q1, 2010 60
15.4 Forest Oil Corporation, Crude Oil Production 61
15.4.1 Total Crude Oil Production Trend, Q1, 2009-Q1, 2010 61
15.4.2 Crude Oil Production, By Country/Region, Q1, 2009-Q1, 2010 62
15.5 Forest Oil Corporation, Natural Gas Production 63
15.5.1 Total Natural Gas Production Trend, Q1, 2009-Q1, 2010 63
15.5.2 Natural Gas Production, By Country/Region, Q1, 2009-Q1, 2010 64
15.6 Forest Oil Corporation, Valuation and Financial Data 65
15.6.1 Share Price Performance, 2004-2009 65
15.6.2 Key Valuation Metrics, 2004-2009 66
15.7 Forest Oil Corporation, Production and Reserves Trends 67
15.7.1 Total Crude Oil and Natural Gas Production and Reserves Trend, 2004-2009 67
15.7.2 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2004-2009 69
15.7.3 Total Crude Oil and Natural Gas Reserve Changes, 2004-2009 71
15.8 Crude Oil/Liquids Production and Reserve 72
15.8.1 Crude Oil/Liquids Production and Reserve Trend, 2004-2009 72
15.8.2 Crude Oil Production and Reserves By Country/Region, 2004-2009 73
15.8.3 Crude Oil/Liquids Reserve Changes, 2004-2009 75
15.9 Natural Gas Production and Reserve 76
15.9.1 Natural Gas Production and Reserve Trend, 2004-2009 76
15.9.2 Natural Gas Production and Reserves, By Country/Region, 2004-2009 77
15.9.3 Natural Gas Reserve Changes, 2004-2009 79
15.10 Total Crude Oil and Natural Gas Reserves Life Index 80
15.10.1 Total Crude Oil and Natural Gas Reserves Life Index, 2004-2009 80
15.10.2 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2004-2009 81
15.11 Forest Oil Corporation, E&P Costs Trends 83
15.11.1 Upstream Capital Expenditure, 2004-2009 83
15.11.2 Acquisition Costs By Country/Region, 2004-2009 84
15.11.3 Exploration and Development Costs, By Country/Region, 2004-2009 86
15.12 Oil and Gas Cost Per boe, $/boe 88
15.12.1 Oil and Gas Cost Per boe, $/boe, 2004-2009 88
15.12.2 Oil and Gas Cost Per boe, $/boe, By Country/Region, 2004-2009 90
15.13 Forest Oil Corporation, Reserve Replacement Ratio 93
15.13.1 Oil and Gas Production Replacement Ratio, 2004-2009 93
15.13.2 Oil and Gas Production Replacement Ratio, By Country/Region, 2004-2009 95
15.14 Forest Oil Corporation, Results of Oil & Gas Operations Trend 99
15.14.1 Oil and Gas Revenue and Expenses, 2004-2009 99
15.14.2 Oil and Gas Revenue and Expenses, By Country/Region, 2004-2009 100
15.15 Oil and Gas Revenue and Expenses, Per boe 105
15.15.1 Oil and Gas Revenue and Expenses, By boe, 2004-2009 105
15.15.2 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2004-2009 106
15.16 Oil and Gas Performance Metrics 110
15.17 Forest Oil Corporation, Land Holdings and Well Data 111
15.17.1 Gross and Net Developed and Undeveloped Acreage, 2004-2009 111
15.17.2 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2004-2009 112
15.18 Well Statistics 115
15.18.1 Producible Oil and Gas Well, 2004-2009 115
15.18.2 Producible Oil and Gas Well, By Country/Region, 2004-2009 116
15.18.3 Exploration and Development Wells Drilled, 2004-2009 121
15.18.4 Exploration and Development Wells Drilled, By Country/Region, 2004-2009 123
15.18.5 Developed Reserves per Well, Oil (Mbbls per Well), Gas (MMcf per Well), Oil & Gas (Mboe per Well), 2004-2009 124
15.18.6 Developed Reserves per Well, By Country/Region, 2004-2009 125

16 Appendix 127
16.1 Methodology 127
16.1.1 Coverage 127
16.1.2 Secondary Research 127
16.1.3 Primary Research 128
16.2 Data Sources 128
16.2.1 Company Source 128
16.2.2 SEC/Other Regulatory Filings 128
16.2.3 Agency Reports 128
16.2.4 Other Sources 128
16.3 Methodology for Company Valuation 128
16.4 Expert Panel Validation 129
16.5 Units of Measure 129
16.6 About GlobalData 129
16.7 Disclosure 130
16.8 Disclaimer 130

Table 1: Forest Oil Corporation, Key Events, 20092010 11
Table 2: Forest Oil Corporation, Texas Panhandle 2010 Development Plan & Drilling Inventory, 2010 15
Table 3: Forest Oil Corporation, Upstream Production Growth Profile (MMboe), 2010E 2014E 29
Table 4: Forest Oil Corporation, Key Transactions As A Buyer, 20032008 37
Table 5: Forest Oil Corporation, Key Transactions As a Seller, 20072009 38
Table 6: Forest Oil Corporation, Estimated Production, 20072014E 40
Table 7: GlobalData, Price Forecast, 2010E 2014E 40
Table 8: Forest Oil Corporation, Income Statement ($m), 20072014E 42
Table 9: Forest Oil Corporation, Balance Sheet ($m), 20072014E 43
Table 10: Forest Oil Corporation, Cash Flow Statement ($m), 20072014E 44
Table 11: Forest Oil Corporation, Cash Flow & Liquidity Parameters, 20072014E 45
Table 12: Forest Oil Corporation, Profitability & Growth Parameters, 20072014E 46
Table 13: Forest Oil Corporation, Capital Structure & Efficiency Parameters, 20072014E 47
Table 14: GlobalData Crude Oil & Natural Gas Price Forecasts, 2010E 2014E 48
Table 15: Forest Oil Corporation, Net Asset Valuation, 2010 49
Table 16: Forest Oil Corporation, Prospective Acreage & Non Proven Reserves, 2009 49
Table 17: Forest Oil Corporation, Sensitivity Analysis of Fair Value ($/share), 2010 49
Table 18: Forest Oil Corporation, NPV Per Unit Crude Oil & NGL Production, 2010 50
Table 19: Forest Oil Corporation, NPV Per Unit Natural Gas Production, 2010 50
Table 20: Forest Oil Corporation, NPV Per Unit Total Production, 2010 50
Table 21: Forest Oil Corporation and its Peers, Operational and Financial Parameters, 2009 52
Table 22: Forest Oil Corporation, Results of Oil & Gas Operations Per boe Produced, $/boe, Q1, 2009-Q1, 2010 56
Table 23: Forest Oil Corporation, Results of Oil & Gas Operations Per boe Growth Rates, %, Q1, 2009-Q1, 2010 57
Table 24: Forest Oil Corporation, Upstream Capital Expenditure, Q1, 2009-Q1, 2010 58
Table 25: Forest Oil Corporation, Total Crude Oil and Natural Gas, Production, Q1, 2009-Q1, 2010 59
Table 26: Forest Oil Corporation, Total Oil & Gas Production, By Country/Region, MMboe, Q1, 2009-Q1, 2010 60
Table 27: Forest Oil Corporation, Total Crude Oil Production, MMbbl, Q1, 2009-Q1, 2010 61
Table 28: Forest Oil Corporation, Crude Oil Production, By Country/Region, MMbbl, Q1, 2009-Q1, 2010 62
Table 29: Forest Oil Corporation, Total Natural Gas Production, Bcf, Q1, 2009-Q1, 2010 63
Table 30: Forest Oil Corporation, Natural Gas Production, By Country/Region, Bcf, Q1, 2009-Q1, 2010 64
Table 31: Forest Oil Corporation, Share Price Performance, 2004-2009 65
Table 32: Forest Oil Corporation, Key Valuation Metrics, 2004-2009 66
Table 33: Forest Oil Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2004-2009 68
Table 34: Forest Oil Corporation, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, MMboe, 2004-2009 70
Table 35: Forest Oil Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2004-2009 71
Table 36: Forest Oil Corporation, Crude Oil Production and Reserves Metrics, MMbbl, 2004-2009 72
Table 37: Forest Oil Corporation, Crude Oil Production and Reserves, By Country/Region, MMbbl, 2004-2009 74
Table 38: Forest Oil Corporation, Crude Oil Reserve Changes, MMbbl, 2004-2009 75
Table 39: Forest Oil Corporation, Natural Gas Production and Reserves Metrics, Bcf, 2004-2009 76
Table 40: Forest Oil Corporation, Natural Gas Production and Reserves, By Country/Region, Bcf, 2004-2009 78
Table 41: Forest Oil Corporation, Natural Gas Reserve Changes, Bcf, 2004-2009 79
Table 42: Forest Oil Corporation, Oil and Gas Reserves Life Index, Years, 2004-2009 80
Table 43: Forest Oil Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 2004-2009 82
Table 44: Forest Oil Corporation, Upstream Capital Expenditure, $m, 2004-2009 83
Table 45: Forest Oil Corporation, Proved and Unproved Acquisition Costs, By Country/Region, $m, 2004-2009 85
Table 46: Forest Oil Corporation, Exploration and Development Costs, By Country/Region, $m, 2004-2009 87
Table 47: Forest Oil Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2004-2009 89
Table 48: Forest Oil Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, By Country/Region, 2004-2009 92
Table 49: Forest Oil Corporation, Oil and Gas Production Replacement Ratio, %, 2004-2009 93
Table 50: Forest Oil Corporation, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2004-2009 98
Table 51: Forest Oil Corporation, Revenue and Expenses, $m, 2004-2009 99
Table 52: Forest Oil Corporation, Revenue and Expenses, By Country/Region, $m, 2004-2009 104
Table 53: Forest Oil Corporation, Oil and Gas Revenue and Expenses, $/boe, 2004-2009 105
Table 54: Forest Oil Corporation, Oil and Gas Revenue and Expenses, $/boe, By Country/Region, 2004-2009 109
Table 55: Forest Oil Corporation, Oil and Gas Performance Metrics, 2004-2009 110
Table 56: Forest Oil Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2004-2009 111
Table 57: Forest Oil Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2004-2009 114
Table 58: Forest Oil Corporation, Producible Oil and Gas Wells, 2004-2009 115
Table 59: Forest Oil Corporation, Producible Oil and Gas Wells, By Country/Region, 2004-2009 120
Table 60: Forest Oil Corporation, Exploratory and Developed Wells, 2004-2009 122
Table 61: Forest Oil Corporation, Exploratory and Developed Wells, By Country/Region, 2004-2009 123
Table 62: Forest Oil Corporation, Developed Reserves per Well, Oil (Mbbls per Well), Gas (MMcf per Well), Oil & Gas (Mboe per Well), 2004-2009 124
Table 63: Forest Oil Corporation, Developed Reserves per Well, By Country/Region, Mboe per Well, 2004-2009 126
Figure 1: Forest Oil Corporation, Key Properties in The US & Canada, 2010 10
Figure 2: Forest Oil Corporation, Share Performance, May 2009April 2010 11
Figure 3: Forest Oil Corporation, Performance Overview, 20062009 12
Figure 4: Forest Oil Corporation, Texas Panhandle Overview, 2010 14
Figure 5: Forest Oil Corporation, Texas Panhandle, Estimated Production, 2010E2014E 15
Figure 6: Forest Oil Corporation, Cotton Valley Sands & Haynesville Shale Activity, 2010 16
Figure 7: Forest Oil Corporation, Cotton Valley/ Haynesville Estimated Production, 2010E2014E 17
Figure 8: Forest Oil Corporation, Canadian Assets Overview, 2010 18
Figure 9: Forest Oil Corporation, Operating Cash Flow Trend, 20072014E 19
Figure 10: Forest Oil Corporation, Capital & Exploratory Spending, 20052010E 20
Figure 11: Forest Oil Corporation, Debt Maturity Schedule as of Q4 2009 21
Figure 12: Forest Oil Corporation, Cash Expense per boe, 20052009 25
Figure 13: Forest Oil Corporation, Operating Cash Flows/ Capex Projected Trend, 20072014E 26
Figure 14: Forest Oil Corporation, Total Production From Upstream Assets, 20062014E 27
Figure 15: Forest Oil Corporation, Estimated Production By Region, 2010E2014E 30
Figure 16: Forest Oil Corporation, Texas Panhandle - Granite Wash and Lower Morrow Fairways Overview, 2009 31
Figure 17: Forest Oil Corporation, Estimated Production by Type, 2010E2014E 33
Figure 18: Forest Oil Corporation, Utica Shale Acreage Overview, 2009 34
Figure 19: Forest Oil Corporation, Exploration Cost and Reserve Addition Through Drillbit, 20062009 35
Figure 20: Forest Oil Corporation, Acquisition Cost and Reserve Addition Through Acquisition, 20062009 36
Figure 21: Forest Oil Corporation and its Peers, Share Price Performance, May 20092010 51
Figure 22: Forest Oil Corporation and its Peers, F&D cost and Reserve Replacement Ratio, 2009 53
Figure 23: Forest Oil Corporation and its Peers, Operational and Financial Parameters ($/boe), 2009 53
Figure 24: Forest Oil Corporation and its Peers, Reserves and Production (MMboe), 2009 54
Figure 25: Forest Oil Corporation and its Peers, Valuation Ratios, 2009 54
Figure 26: Forest Oil Corporation, Results of Oil & Gas Operations Per boe Produced, $/boe, Q1, 2009-Q1, 2010 56
Figure 27: Forest Oil Corporation, Upstream Capital Expenditure, $m, Q1, 2009-Q1, 2010 58
Figure 28: Forest Oil Corporation, Total Crude Oil and Natural Gas, Production, MMboe, Q1, 2009-Q1, 2010 59
Figure 29: Forest Oil Corporation, Total Oil & Gas Production, By Country/Region, MMboe, Q1, 2009-Q1, 2010 60
Figure 30: Forest Oil Corporation, Total Crude Oil Production, MMbbl, Q1, 2009-Q1, 2010 61
Figure 31: Forest Oil Corporation, Crude Oil Production, By Country/Region, MMbbl, Q1, 2009-Q1, 2010 62
Figure 32: Forest Oil Corporation, Total Natural Gas Production, Bcf, Q1, 2009-Q1, 2010 63
Figure 33: Forest Oil Corporation, Natural Gas Production, By Country/Region, Bcf, Q1, 2009-Q1, 2010 64
Figure 34: Forest Oil Corporation, Share Price Performance, $/Share, 2004-2009 65
Figure 35: Forest Oil Corporation, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), 2004-2009 66
Figure 36: Forest Oil Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2004-2009 67
Figure 37: Forest Oil Corporation, Total Oil & Gas Production (Reserves Reconciliation), By Country/Region, MMboe, 2004-2009 69
Figure 38: Forest Oil Corporation, Total Proved Oil & Gas Reserves, By Country/Region, MMboe, 2004-2009 69
Figure 39: Forest Oil Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2009 71
Figure 40: Forest Oil Corporation, Crude Oil Production and Reserves Metrics, MMbbl, 2004-2009 72
Figure 41: Forest Oil Corporation, Oil Production (Reserves Reconciliation), By Country/Region, MMbbl, 2004-2009 73
Figure 42: Forest Oil Corporation, Crude Oil Reserve Changes, MMbbl, 2009 75
Figure 43: Forest Oil Corporation, Natural Gas Production and Reserves Metrics, Bcf, 2004-2009 76
Figure 44: Forest Oil Corporation, Gas Production (Reserves Reconciliation), By Country/Region, Bcf, 2004-2009 77
Figure 45: Forest Oil Corporation, Total Proved Gas Reserves, By Country/Region, Bcf, 2004-2009 77
Figure 46: Forest Oil Corporation, Natural Gas Reserve Changes, Bcf, 2009 79
Figure 47: Forest Oil Corporation, Oil and Gas Reserves Life Index, Years, 2004-2009 80
Figure 48: Forest Oil Corporation, Gas Reserve Life Index, By Country/Region, Years, 2004-2009 81
Figure 49: Forest Oil Corporation, Oil & Gas Reserve Life Index, By Country/Region, Years, 2004-2009 81
Figure 50: Forest Oil Corporation, Oil Reserve Life Index, By Country/Region, Years, 2004-2009 82
Figure 51: Forest Oil Corporation, Upstream Capital Expenditure, $m, 2004-2009 83
Figure 52: Forest Oil Corporation, Proved Acquisition Costs, By Country/Region, $m, 2004-2009 84
Figure 53: Forest Oil Corporation, Unproved Acquisition Costs, By Country/Region, $m, 2004-2009 84
Figure 54: Forest Oil Corporation, Development Costs, By Country/Region, $m, 2004-2009 86
Figure 55: Forest Oil Corporation, Exploration Costs, By Country/Region, $m, 2004-2009 86
Figure 56: Forest Oil Corporation, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2004-2009 88
Figure 57: Forest Oil Corporation, 3-Year Wt. Avg. Oil & Gas Finding & Development Cost per boe, By Country/Region, $/boe, 2004-2009 90
Figure 58: Forest Oil Corporation, 3-Year Wt. Avg. Oil & Gas Finding Cost per boe, By Country/Region, $/Boe, 2004-2009 90
Figure 59: Forest Oil Corporation, 3-Year Wt. Avg. Reserve Replacement Cost per boe, By Country/Region, $/boe, 2004-2009 91
Figure 60: Forest Oil Corporation, 3-Year Wt. Avg. Proved Acquisition Cost per boe, By Country/Region, $/Boe, 2004-2009 91
Figure 61: Forest Oil Corporation, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2004-2009 93
Figure 62: Forest Oil Corporation, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2004-2009 95
Figure 63: Forest Oil Corporation, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2004-2009 95
Figure 64: Forest Oil Corporation, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2004-2009 96
Figure 65: Forest Oil Corporation, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2004-2009 96
Figure 66: Forest Oil Corporation, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2004-2009 97
Figure 67: Forest Oil Corporation, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2004-2009 97
Figure 68: Forest Oil Corporation, Revenue and Expenses, $m, 2004-2009 99
Figure 69: Forest Oil Corporation, Depreciation, Depletion & Amortization , By Country/Region, $m, 2004-2009 100
Figure 70: Forest Oil Corporation, Income Tax/(Benefit), By Country/Region, $m, 2004-2009 100
Figure 71: Forest Oil Corporation, Net Income/ Loss, By Country/Region, $m, 2004-2009 101
Figure 72: Forest Oil Corporation, Oil & Gas Revenue, By Country/Region, $m, 2004-2009 101
Figure 73: Forest Oil Corporation, Pre-tax Profit, By Country/Region, $m, 2004-2009 102
Figure 74: Forest Oil Corporation, Production Expenses, By Country/Region, $m, 2004-2009 102
Figure 75: Forest Oil Corporation, Total Expenses, By Country/Region, $m, 2004-2009 103
Figure 76: Forest Oil Corporation, Oil and Gas Revenue and Expenses, $/boe, 2004-2009 105
Figure 77: Forest Oil Corporation, Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2004-2009 106
Figure 78: Forest Oil Corporation, Lifting Cost per boe, By Country/Region, $/boe, 2004-2009 106
Figure 79: Forest Oil Corporation, Annual Net Income per boe, By Country/Region, $/boe, 2004-2009 107
Figure 80: Forest Oil Corporation, Oil & Gas Revenue per boe, By Country/Region, $/boe, 2004-2009 107
Figure 81: Forest Oil Corporation, Total DD&A per boe, By Country/Region, $/boe, 2004-2009 108
Figure 82: Forest Oil Corporation, Total Revenue per boe, By Country/Region, $/boe, 2004-2009 108
Figure 83: Forest Oil Corporation, Oil and Gas Performance Metrics, 2004-2009 110
Figure 84: Forest Oil Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2004-2009 111
Figure 85: Forest Oil Corporation, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2004-2009 112
Figure 86: Forest Oil Corporation, Total Net Undeveloped Acreage, By Country/Region, Acres, 2004-2009 112
Figure 87: Forest Oil Corporation, Total Gross Developed Acreage, By Country/Region, Acres, 2004-2009 113
Figure 88: Forest Oil Corporation, Total Net Developed Acreage, By Country/Region, Acres, 2004-2009 113
Figure 89: Forest Oil Corporation, Producible Oil and Gas Wells, 2004-2009 115
Figure 90: Forest Oil Corporation, Gross Producible Gas Wells, By Country/Region, Number, 2004-2009 116
Figure 91: Forest Oil Corporation, Gross Producible Oil & Gas Wells, By Country/Region, Number, 2004-2009 116
Figure 92: Forest Oil Corporation, Gross Producible Oil Wells, By Country/Region, Number, 2004-2009 117
Figure 93: Forest Oil Corporation, Net Oil & Gas Wells as % of Gross Oil & Gas Wells, By Country/Region, %, 2004-2009 117
Figure 94: Forest Oil Corporation, Net Producible Gas Wells, By Country/Region, Number, 2004-2009 118
Figure 95: Forest Oil Corporation, Net Producible Oil & Gas Wells, By Country/Region, Number, 2004-2009 118
Figure 96: Forest Oil Corporation, Net Producible Oil Wells, By Country/Region, Number, 2004-2009 119
Figure 97: Forest Oil Corporation, Exploratory and Developed Wells, 2004-2009 121
Figure 98: Forest Oil Corporation, Developed Gas Reserves per Well (MMcf per Well), By Country/Region, 2004-2009 125
Figure 99: Forest Oil Corporation, Developed Oil & Gas Reserves per Well (Mboe per Well), By Country/Region, 2004-2009 125
Figure 100: Forest Oil Corporation, Developed Oil Reserves per Well (Mbbls per Well), By Country/Region, 2004-2009 126