Forest Oil Corporation announced it completed its second horizontal well on its acreage in Gregg County, Texas that initially produced at a gross rate of 7.8 MMcfe/d to sales.
Forest has spud its third horizontal well in the trend, an offset to Forest's first horizontal well and expects to complete this well in February 2008. Forest has one rig in East Texas dedicated to drilling horizontal wells and four additional rigs dedicated to drilling vertical wells. This five rig program is expected to continue in 2008 with an estimated eight horizontal and 55 to 60 vertical wells drilled during the year.
Forest acquired its position in East Texas in two transactions over the last 24 months. The Company owns an approximate 80% working interest in 90,000 gross acres in East Texas.
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