(RTTNews) - Forest Oil Corp. (FST:
News ) 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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by RTT Staff Writer
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