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Forest Oil Corporation, with stock ticker symbol FST, was a publicly traded energy company engaged in the acquisition, exploration, development, and production of natural gas and crude oil in the United States. However, it's important to note that Forest Oil Corporation is no longer an active company. It was acquired by Sabine Oil & Gas, LLC in a merger transaction that was completed on February 2, 2017. As a result, Forest Oil Corporation's stock is no longer listed on any stock exchange.
Before the merger, Forest Oil Corporation had a significant presence in several key U.S. natural gas and liquids-rich resource plays, including the Upper Texas Gulf Coast, the Mid-Continent, and the Rocky Mountains. The company's primary focus was on the exploration and production of unconventional resources, such as shale gas and tight oil.
Historically, Forest Oil Corporation had a mixed track record in terms of financial performance. Over the years, the company had faced several challenges, including fluctuations in commodity prices, capital expenditure requirements, and operational challenges, which had an impact on its earnings and growth. However, it had also achieved some successes, including discoveries and development of new resources, as well as the expansion of its presence in key basins.
In its last few years as an independent company, Forest Oil Corporation had been working to improve its financial position and operational efficiency. The company had implemented various cost-cutting measures, optimized its asset portfolio, and worked to strengthen its balance sheet. Despite these efforts, the company's financial situation remained challenging, and the merger with Sabine Oil & Gas was ultimately seen as the best path forward for the company and its stakeholders.
In summary, Forest Oil Corporation was a significant player in the U.S. energy sector, with a focus on natural gas and crude oil exploration and production. Despite challenges in its financial performance, the company had made progress in improving its operational efficiency and financial position prior to its merger with Sabine Oil & Gas.