US independent Forest Oil to cut this year's spending

摘要

Forest Oil will spend US450 million to US500 million this year on exploration and development,down from US525 million spent in 2005,the Denver-based company said March 16.In its 10-K annual report filed with the Securities and Exchange Commission,Forest also said it expects its gas production to decline sharply,to between 185,000 Mcf/d and 195,000 Mcf/d from 279,000 Mcf/d last year.