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DENVER (AP) - Forest Oil Corp. extended its bank line of credit to $1.8 billion to give it more capital for potential acquisitions, the oil and natural-gas exploration company said Thursday.
| FST | 64.73 |  0.19 |
Forest said the $800 million increase was to "allow us flexibility to capitalize" on an environment of "high quantity and quality of asset deal flow."
The company has drawn $600 million on the credit line so far.
Eritrea is considering five more applications for exploration licences, and will make its decision within the year.
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