Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Quicksilver Details North America Progress, 2014 Capital Budget
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Quicksilver Resources Inc. has reported preliminary 2013 fourth-quarter and full-year results.
2013 and Q1 2014 Highlights:-- Raised proceeds and announced sales for total of $596 million
Sold 25% interest in Barnett Asset to TGBR, a subsidiary of Tokyo Gas Co., Ltd., for net proceeds of $464 million Sold Montana Asset to Synergy Offshore LLC for net proceeds of $42 million Announced sale of Niobrara Asset along with SWEPI LP to Southwestern Energy Co., which is expected to generate cash proceeds of $90 million-- Refinanced $1.1 billion in debt, extended maturities and reduced weighted average interest rates
-- Increased pro forma proved reserves by 20%
-- Secured partners on the West Texas Asset and narrowed focus on core Wolfcamp to Pecos County
-- Added to the 2014 derivative…
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