Average Net Sales Volumes: Forest expects 2013 net sales volumes to average 220 to 230 MMcfe/d, excluding average net sales volumes associated with the South Texas property divestiture that closed on February 15, 2013, and is estimated to be comprised of approximately 60% natural gas and 40% liquids (20% oil and 20% natural gas liquids). The Company currently projects average oil net sales volumes to grow organically in excess of 30% in 2013 as compared to 2012 (adjusting for the impact of asset sales) and for the liquids component to increase from approximately 35% of average equivalent net sales volumes in the first quarter of 2013 to approximately 45% in the fourth quarter of 2013. Based on current projections and planned activity, the Company believes that second half of 2013 average net sales volumes will be higher than first half of 2013 average net sales volumes on a pro forma basis. Forest’s average net sales volumes guidance does not include approximately 25-30 MMcfe/d in the first quarter of 2013 associated with the South Texas property divestiture.Price Differentials: 2013 price differential guidance does not include the effects of natural gas and oil derivatives that Forest currently has in place.
Forest Oil Announces 2013 Capital Budget And Guidance
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