Lower Prices Slash Forest Oil's Revenue

摘要

Sharply lower product prices slashed revenue and cash flow for Forest Oil Corp. in the second quarter (see table). Although the company's Canadian natural gas production rose 3.4%, its crude oil and natural gas liquids (NGL) volumes fell 23% in the period, causing an overall 2.5% drop in per-bbl of oil equivalent production from last year's second-quarter figures. Natu-ral gas makes up more than 80% of Forest's Canadian volumes.