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Quicksilver, KKR Closes Horn River Midstream Partnership
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Quicksilver Resources Inc. (NYSE: KWK), through wholly-owned subsidiaries, and Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, “KKR”) announced today the formation of a new midstream partnership dedicated to the construction and operation of natural gas midstream services to support producer customers in British Columbia and the Northwest Territories of Canada.
Transaction Highlights:
Quicksilver contributed its existing 20-mile, 20-inch gathering line and compression facilities and 10-year contracts for gas deliveries into those facilities to create the partnership KKR paid $125 million to Quicksilver in exchange for a 50% interest in the partnership KKR will carry Quicksilver on its portion of future development costs on the initial treating facility in exchange for…- ✓ Full news archive — U.S., Canada & international coverage
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