Forest to take big charge on price declines, delay sales

摘要

Washington-Forest Oil, like many of its peers, will write down the value of its reserve portfolio because of a dramatic decline in oil and natural gas prices in the latter half of 2008, it said February 11. The Denver-based independent said in a securities filing it anticipates an after-tax impairment charge of $1.5 billion for the fourth quarter and full year of 2008, which will result in a 2008 loss.