Forest sells West Texas assets

Forest Oil Corp. of Denver has announced it’s entered into agreements to sell operated and non-operated properties in West Texas and New Mexico for $118 million.

The transactions, which sell property producing 9 million cubic feet per day, are expected to close in the third quarter of this year, according to a news release.

The company says the divestitures it’s made so far in 2009 will yield proceeds of approximately $148 million.