SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) - January 28, 1998
FOREST OIL CORPORATION
(Exact name of registrant as specified in its charter)
New York 0-4597 25-0484900
(State or other juris- (Commission (IRS Employer
diction of incorporation) file number) Identification No.)
2200 Colorado State Bank Building, 1600 Broadway, Denver, CO 80202
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 812-1400
Item 5. Other Events
For information concerning this item, please refer to
Exhibit 99.1 hereto, which is incorporated herein by reference.
Item 7. Financial Statements and Exhibits
(c) Exhibits
(99.1) Forest Oil Corporation press release
announcing a private offering of $75 million principal
amount of 8-3/4% Senior Subordinated Notes due 2007.
Canadian Forest Oil Ltd., a wholly-owned Canadian
subsidiary of Forest, is the issuer of the notes.
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
FOREST OIL CORPORATION
(Registrant)
Dated: January 28, 1998 By: /s/ Daniel L. McNamara
Daniel L. McNamara
Secretary
FOR IMMEDIATE RELEASE
FOREST OIL ANNOUNCES $75 MILLION SUBORDINATED DEBT OFFERING
DENVER, COLORADO - JANUARY 28, 1998 - Forest Oil Corporation
(NYSE:FST) announced today that it has priced a private offering
of $75 million principal amount of 8-3/4% Senior Subordinated
Notes due 2007, an add-on to the company's existing $125 million
Senior Subordinated Notes that were issued in September 1997.
The notes bear a stated coupon rate of 8-3/4%, and the company
will receive net proceeds of approximately $75 million. Canadian
Forest Oil Ltd., a wholly-owned Canadian subsidiary of Forest, is
the issuer of the notes.
The net proceeds will be used to provide funds for the previously
announced acquisition of oil and gas properties in Louisiana.
The new notes are being issued pursuant to an underwritten Rule
144A offering. The notes have not been registered under the
Securities Act of 1933 and may not be offered or sold in the
United States without registration or an applicable exemption
from registration.
This news release includes forward looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Although the company
believes that its expectations are based on reasonable
assumptions, it can give no assurance that expected results will
be achieved. Important factors that could cause actual results
to differ materially from those in the forward looking statements
herein include drilling risks, environmental risks, operating
risks and other risk factors as described in the company's 1996
Annual Report on Form 10-K as filed with the Securities and
Exchange Commission.
Forest Oil Corporation is engaged in the acquisition,
exploration, development, production and marketing of natural gas
and crude oil in North America. Forest's principal reserves and
producing properties are located in the Gulf of Mexico, Texas,
Oklahoma, Wyoming and Canada. Forest's common stock trades on
the New York Stock Exchange under the symbol FST.
January 28, 1998
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