As one of the largest independent oil and gas companies in America, the Forest Oil Corporation (NYSE: FST) has been a major player in the oil and natural gas industry since its inception in 1916. Prior to 2003, the company was heavily involved in offshore exploration, but this strategy proved unprofitable as production and reserves were lacking. A management change and a shift in focus have reinvigorated Forest, and the firm has been able to enjoy successful growth through acquisitions.

Forest seeks to augment efficiency by implementing secondary recovery techniques to increase production from wells that are considered depleted. Through a technique called water flooding, increased quantities of oil are forced to the surface by injecting water into oil-bearing rock formations.^[1] Forest conducts business operations in the United States, Canada and International markets. The firm has consolidated recently, selling its offshore Gulf of Mexico operations and its Alaskan operations, in order to focus on its core land-based operations in North America.

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