Forestar begins sale process for non-core assets

Forestar Group Inc. (NYSE:  FOR) has engaged Tudor, Pickering, Holt & Co. to sell Forestar’s non-core oil and gas assets in the Bakken and Three Forks formations in North Dakota.

Forestar Group’s oil and gas segment includes approximately 914,000 net acres of oil and gas mineral interests, with approximately 590,000 acres of fee ownership located principally in Texas, Louisiana, Georgia, and Alabama, and approximately 324,000 net acres of leasehold interests principally located in Nebraska, Kansas, Oklahoma, North Dakota, and Texas. These leasehold interests include about 9,000 net mineral acres in the core of the Bakken and Three Forks formations.

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