logo
Share SHARE
FONT-SIZE Plus   Neg

Quicksilver To Sell 25% Interest In Barnett Shale Assets - Quick Facts

Quicksilver Resources Inc. (KWK) announced that it has executed an agreement to sell an undivided 25% interest in its Barnett Shale oil and gas assets to TG Barnett Resources LP, a wholly-owned U.S. subsidiary of Tokyo Gas Co., Ltd. for $485 million. Quicksilver expects proceeds from the transaction to reduce its debt.

Quicksilver will remain as operator of the assets and future development spending will be shared in proportion to each party's working interest in accordance with applicable operating agreements.

The effective date of the transaction is September 1, 2012, with closing expected to occur on April 30, 2013.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Delta Air Lines Inc. (DAL) pilots, represented by the Air Line Pilots Association International, are picketing on Friday at several airports across the country. The pilots said the picketing was to raise the sense of urgency in ongoing contract negotiations. The negotiations between the pilots... Charter Communications, and its recently acquired subsidiary Time Warner Cable, have been regularly overcharging its consumers to a tune of $7.2 million per year, according to a report from the U.S. Senate's Permanent Subcommittee on Investigations. According to the report, Time Warner Cable over-billed... Popular photo sharing network Instagram is adding a new translation button on its pages, so that the global crowd can read and enjoy the captions and comments given for the photographs uploaded. The new update will be available from next month onward.
comments powered by Disqus
Follow RTT