Forest Oil and its subsidiaries are engaged in the exploration, acquisition, development, production and marketing of natural gas and crude oil in North America and in selected international locations. Corporate headquarters are located in Denver, Colorado, with principal reserves and producing properties in Arkansas, Louisiana, New Mexico, Oklahoma, Texas, Utah, and Wyoming, and in Canada.
Forest Oil was launched in northwestern Pennsylvania in 1916, incorporated in 1924, and has been publicly held since 1969. The Company operates five distinct geographic Business Units, which include Canada, Eastern, Southern, Western and International.
During its extensive history, Forest has prospered and grown into one of the leading oil and gas exploration and production companies. Forest's vision to be the best exploration and development company in the oil and gas industry was formulated in the company's early years, and continues to influence daily operations and goals.
Through strategic acquisitions, success in exploration areas, a reduction in operating expenses and improved efficiency in mature fields, and a highly favorable re-tooling of its debt structure, Forest has achieved a diversified and balanced portfolio. Furthermore, the Forest business model, including performance standards and measurements of success, is designed to facilitate financial stability and continuous growth for its employees and shareholders.
As of June 6, 2007, The Houston Exploration Company was acquired by Forest Oil Corp.