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Shares of Forest Oil, the Denver-based oil and gas producer that sold more than $1 billion in assets last year, rose 10 percent after announcing production results from Texas wells that exceeded expectations.
Forest Oil gained $2.58 to $27.70 in Thursday trading on the New York Stock Exchange. The company’s third and fourth horizontal wells in the Texas Panhandle produced at a rate equivalent to 37 million cubic feet of natural gas a day in December and January, respectively, according to a Thursday statement.
