Quicksilver Resources Inc. (KWK) announced $540 million capital program for 2010. This includes about $390 million for drilling and completion activities, $92 million for gathering and processing facilities, $53 million for leasehold and $5 million for other property and equipment.
Quicksilver said that its 2010 capital program is expected to drive an increase of more than 20% in average daily production volumes. The company said that the production volumes for 2010 are projected to average in range of 390 million to 400 million cubic feet of natural gas equivalents per day. Also, the program will fund the company's ongoing evaluation of its high-potential exploratory acreage positions in the Horn River and Greater Green River basins. About $465 million of the capital program is expected to be spent in Texas, the company said.
Separately, Quicksilver Gas Services LP (KGS) announced that it has offered 4 million common units representing limited partner interests. The company granted underwriters a 30-day option to purchase up to 600,000 additional common units representing limited partner interests.
The company initially expects to use offering net proceeds to repay outstanding borrowings under its revolving credit facility. The company subsequently intends to re-borrow about $87.1 million under this facility to fund the acquisition of Alliance midstream gathering and treating assets from Quicksilver Resources Inc.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.