Exploration & Production | Deals - Joint Ventures | Quarterly / Earnings Reports | Second Quarter (2Q) Update
Quicksilver Launches Permian JV with Eni; Unveils Plans
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Quicksilver Resources Inc. has reported a second quarter 2014 update on its Permian Basin operations.
In June 2014, Quicksilver entered into a joint participation agreement involving its assets in the Midland Basin in Crockett and Upton counties. As part of the agreement, Quicksilver will retain a 12.5% interest in the applicable acreage and will be carried on both the cost to extend a majority of the leases in the basin and the drilling and completion cost of five wells; the wells will be operated by a third party.
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In late 2013, Quicksilver announced that it would jointly evaluate, explore and develop approximately 52,500 gross acres in Pecos County with Eni. The joint venture calls for Eni to spend up to $52 million to fund 100% of the drilling and completion of up to…
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