Lone Pine Resources, the Canadian arm of North American oil and gas company Forest Oil Corporation, filed on Monday with the SEC to raise up to $375 million in an initial public offering. The Alberta-based company, which was formerly known as Canadian Forest Oil Limited before it was acquired by Forest Oil Corporation in 1996, booked $141 million in sales for the 12 months ended September 30. Parent company Forest Oil Corporation also intends to spin-off its remaining stake in Lone Pine to its shareholders after the IPO. Lone Pine Resources plans to list on the NYSE under the symbol LPR with J.P. Morgan acting as lead underwriter on the deal. Pricing terms and timing were not disclosed.
