May 21, 2009 (FinancialWire) — Forest Oil Corp. (NYSE: FST) said it has priced its public offering of 12.5 million shares of its common stock at $18.25 per share. Deutsche Bank Securities (NYSE: DB) and Credit Suisse Securities (NYSE: CS) are acting as the joint book-running managers.

The company has granted the underwriters a 30-day option to purchase up to 1.875 million additional shares of its common stock.

The issuance and delivery of the shares is scheduled to occur on or about May 26, according to Forest. The company plans to use the net proceeds from the offering to repay a portion of the outstanding borrowings under its bank credit facilities.

Denver-base Forest Oil is engaged in the acquisition, exploration, development, and production of natural gas and liquids in North America and various international locations. Forest’s principal reserves and producing properties are located in the United States in Arkansas, Louisiana, New Mexico, Oklahoma, Texas, Utah, and Wyoming, and in Canada. Forest’s common stock trades on the New York Stock Exchange under the symbol FST.

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