Sabine Oil board of directors selects new member, claims investigator

By Kali Hays

New York, May 15 – Sabine Oil & Gas Corp.’s board of directors appointed Jonathan F. Foster as an independent director and as a member of a “newly formed” investigation committee related to potential claims against the company, according to an 8-K filed Friday with the Securities and Exchange Commission.

Foster is currently a managing director of Current Capital, LLC and serves as a director of Masonite International Corp., Lear Corp., Chemtura Corp. and Berry Plastics Group, Inc.

As a director on Sabine’s board, Foster will be paid $175,000 per year, which will be paid in an advanced lump sum. For his service on the investigation committee, Foster will receive an additional $70,000 per year, also to be paid in an advanced lump sum, according to the 8-K.

Formerly Forest Oil Corp., Sabine is an oil and gas company based in Houston.

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