Quicksilver Sales its Sand Wash Basin Assets to Southwestern Energy

Source: www.gulfoilandgas.com 3/5/2014, Location: North America

Quicksilver Resources Inc. announces its execution of a purchase and sale agreement along with SWEPI LP, to sell to Southwestern Energy Production Company all of their jointly owned holdings in the Sand Wash Basin for cash proceeds of $180 million to be allocated equally between Quicksilver and SWEPI LP, subject to customary due diligence and other closing conditions.

The transaction is expected to close on May 1, 2014 with an effective date of January 1, 2014. "This sale enables us to focus our development efforts on the Barnett and Canadian projects as well as our previously announced joint ventures in West Texas, and provides the opportunity to enhance company liquidity," said Glenn Darden, Quicksilver's CEO.

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Related Categories: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 

Related Articles: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 


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