UPDATE 1-Forest Oil Q3 profit falls, sees higher Q4 sales

* Q3 EPS $0.60 vs $1.53 last year

* Q3 sales volume 457 mmcfe/day

* Sees Q4 sales volume 470-480 mmcfe/day

Nov 1 (BestGrowthStock) – Gas-focused explorer Forest Oil Corp
(FST.N: ) reported a drop in third-quarter profit (Read more your timing to make a profit.) on lower
commodity prices, but said sales volume would rise in the
fourth quarter.

Third-quarter sales volume dropped 4 percent to 457 million
cubic feet of natural gas equivalent per day (mmcfe/d), and the
company said this would rise to 470-480 mmcfe/d for the fourth
quarter.

Net sales volume from liquids increased to 26 percent in
the latest quarter, and Forest Oil expects liquids to account
for 28 percent of sales volume in the fourth quarter.

Natural gas (NGc1: ) accounts for over 70 percent of Forest
Oil’s production, and prices of the commodity have so far
fallen about 30 percent since the start of the year.

For the third quarter, the company earned $68.9 million, or
60 cents a share, compared with $172.3 million or $1.53 a
share, last year.

Excluding items, profit was 37 cents a share.

Revenue excluding net realized derivative gains rose 19
percent to $210.2 million. Including gains, however, revenue
was down 8 percent to $237.3 million.

Analysts, on average, had expected the company to earn 45
cents a share, on revenue of $237.7 million, according to
Thomson Reuters I/B/E/S.

Shares of the company, which have nearly doubled over the
past year, closed at $31.01 on Monday on the New York Stock
Exchange.
(Reporting by Adveith Nair in Bangalore; Editing by Vyas
Mohan)

UPDATE 1-Forest Oil Q3 profit falls, sees higher Q4 sales