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
Germany, a clean-power trendsetter country, is planning to introduce hydrogen powered trains. The environment friendly "Coradia iLint" long distance passenger hydrails are expected to be operational by the end of 2017. Rogers Communications Inc. and Shaw Communications Inc. are shutting down Shomi, the subscription video-on-demand service run by the two Canadian companies. Shomi said it will shut down operations on November 30, 2016, just two years since its launch. Shomi was viewed as a Canadian competitor to Netflix. Canadian women's fashion retailer Aritzia LP has raised C$400 million in its initial public offering on the Toronto Stock Exchange. Aritzia, Boston-based private equity firm Berkshire Partners LLC, and founder as well as CEO Brian Hill sold 25 million subordinate voting shares for C$16 per share, at the high end of its marketed range of C$14 to C$16 per share.
comments powered by Disqus
Follow RTT