Forest Oil Corp. (FST) announced after the close Monday that it entered into a definitive agreement to sell the remainder of its Permian Basin properties in West Texas and New Mexico to SandRidge Exploration and Production LLC, a wholly owned subsidiary of SandRidge Energy Inc. (SD), for approximately $800 million. The transaction is expected to close on or before December 31, 2009.
Forest Oil Corp. dipped slightly late Monday morning and finished down by 0.18 at $18.32. The stock closed near the middle of a week and a half long range.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.