Forest Oil Announces Personnel Change
Forest Oil Announces Personnel Change
Mr. Victor A. Wind, currently Forest's Senior Vice President, Chief Accounting Officer, Corporate Controller and Treasurer, has been promoted to the position of Executive Vice President, Chief Financial Officer and Treasurer effective August 24, 2013. Mr. Wind will be responsible for overseeing all financing activities of the Company and directing its accounting, treasury, corporate planning, investor relations, tax, and information technology functions. Mr. Wind started his career in public accounting in 1995, later served in various management positions, including Director of Financial Reporting and Controller, at Evergreen Resources, Inc. from July 2001 through December 2004, and joined Forest as Controller - Financial Accounting in January 2005.
Mr. Michael N. Kennedy, Forest's current Executive Vice President and Chief Financial Officer, has resigned his position, effective August 23, 2013, to pursue other opportunities in the oil and gas industry.
Patrick R. McDonald, President and CEO, stated, "We are pleased to announce Victor's promotion. Victor has been intimately involved and instrumental in the execution of Forest's turn-around strategy, and we look forward to his continued leadership in his new position. I also want to thank Michael for his years of service and contributions to the Company, and I wish him well in his future endeavors."
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. All statements, other than statements of historical facts, that address activities that Forest assumes, plans, expects, believes, projects, estimates or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. The forward-looking statements provided in this press release are based on management's current belief, based on currently available information, as to the outcome and timing of future events. Forest cautions that future natural gas and liquids production, revenues, cash flows, liquidity, plans for future operations, expenses, outlook for oil and natural gas prices, timing of capital expenditures, and other forward-looking statements relating to Forest are subject to all of the risks and uncertainties normally incident to their exploration for and development and production and sale of liquids and natural gas.
These risks relating to Forest include, but are not limited to, liquids and natural gas price volatility, its level of indebtedness, its ability to replace production, its ability to compete with larger producers, environmental risks, drilling and other operating risks, regulatory changes, credit risk of financial counterparties, risks of using third-party transportation and processing facilities and other risks as described in reports that Forest files with the SEC, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Any of these factors could cause Forest's actual results and plans to differ materially from those in the forward-looking statements.
Forest Oil Corporation is engaged in the acquisition, exploration, development, and production of natural gas and liquids in the United States and selected international locations. Forest's estimated proved reserves and producing properties are located in the United States in Arkansas, Louisiana, Oklahoma, Texas, and Wyoming. Forest's common stock trades on the New York Stock Exchange under the symbol FST. For more information about Forest, please visit its website at www.forestoil.com.
Forest Oil Corporation
Larry C. Busnardo, 303-812-1441
Director - Investor Relations
KEYWORDS: United States North America Colorado
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