Shares of Quicksilver Resources (KWK) rose sharply in
Monday's trading session, trading with gains of up to 39%. The independent oil
and gas company on Friday announced the sale of a 25% interest in Barnett Shale
assets to TG Barnett Resources LP, a subsidiary of Tokyo Gas.
Shares gave up some of the gained ground towards to session end and closed the day with gains of 15.5%, to close at $2.60 per share.
The Deal
Quicksilver Resources announced that it has agreed to sell a 25% interest in its Barnett Shale oil and gas assets. Quicksilver will receive $485 million from TG Barnett Resources, and the firm will remain the operator of the assets.
The companies furthermore announced that future capital requirements will be shared proportionally to each party's working interest in accordance with applicable operating agreements.
Read the entire article on Seekingalpha by clicking the following link
Shares gave up some of the gained ground towards to session end and closed the day with gains of 15.5%, to close at $2.60 per share.
The Deal
Quicksilver Resources announced that it has agreed to sell a 25% interest in its Barnett Shale oil and gas assets. Quicksilver will receive $485 million from TG Barnett Resources, and the firm will remain the operator of the assets.
The companies furthermore announced that future capital requirements will be shared proportionally to each party's working interest in accordance with applicable operating agreements.
Read the entire article on Seekingalpha by clicking the following link
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