Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Quicksilver Touts 14 Tcf of Horn River Potential; Talks Horseshoe Canyon
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Quicksilver Resources Inc. has detailed an update on its fourth quarter and year-end 2013 Canadian operations.
Canada - Horn River BasinProduction from the Horn River Basin in the fourth quarter of 2013 was an average of 50 MMcfe per day.
In March 2014, the company executed an agreement with KKR, its partner in Fortune Creek, to reduce the rate assessed on Horn River gathered volumes and to amend the ending date of the remaining $120 million capital spending requirement. As part the amendment, Quicksilver pays C$28 million to Fortune Creek to apply against the gathering agreement requirement, thus lowering the Fortune Creek gathering rate by $0.13 per Mcf until at least 2016. The amendment also provides that the remaining capital spending requirement be deferred to the later of June 30…
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