Quicksilver Gas Services LP (KGS) said it completed the purchase of the Alliance midstream gathering and treating assets from Quicksilver Resources Inc. (KWK) for a total preliminary adjusted purchase price of approximately $95 million. The acquired assets consist of gathering systems and related compression facilities with an aggregate current capacity of 115 million cubic feet per day, and a plant with amine treating capacity of 180 MMcfd and dehydration treating capacity of 200 MMcfd to the gathered gas. The purchase was funded through draws on the company's senior secured revolving credit facility. The sale of the additional units is expected to close on January 7, 2010. Net proceeds from the sale would be used to repay outstanding borrowings under the company's credit facility.
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