Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

Forest Oil Corporation Deal - Lehman Brothers Collection

Forest Oil Corporation

Company Deal2,000,000 shares of common stock (par value $1.00 per share)
Transaction TypeCommon Stock
Deal DescriptionForest Oil Corporation used a portion of the net proceeds from this transaction to prepay indebtedness maturing in 1973 incurred in connection with the drilling and equipping of wells and exploratory activities and, subject to the successful completion of current negotiations, a portion of the proceeds was used to purchase certain interests in oil and gas properties, substantially all of which were in West Texas. The remaining proceeds were added to the company's general funds and were used for general corporate purposes, including expenditures for property acquisitions, for exploration and development, and for working capital requirements.
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