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Obama calls for offshore drilling in Southeast

WASHINGTON — The Obama administration on Tuesday outlined a politically fraught plan for allowing oil and gas drilling offshore along parts of the Atlantic coast while imposing new restrictions on environmentally fragile waters off northern Alaska.

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Alliance's Hillwood Commons lands first tenant

A large title insurance, property valuation and settlement services company is the first tenant at Hillwood Commons I, an office complex at Alliance Town Center.

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Museum District: Area’s evolution creating more interaction, public spaces

Fifteen years ago if someone had shot a cannon from Fort Worth’s world-renowned museum district, nobody would have noticed, joked Lori Eklund, senior deputy director of the Amon Carter Museum of American Art. But that has changed.

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Energy Transfer Partners, Regency Energy announce $18B merger

Energy Transfer Partners LP of Dallas and Regency Energy Partners LP have entered into a definitive merger agreement.

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American Airlines' first 787 Dreamliner arrives at D/FW

American is preparing the plane to begin service sometime in the second quarter.

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Quicksilver to partner with Eni in Delaware Basin

 

Fort Worth independent oil and gas company Quicksilver Resources Inc. said Nov. 5 it has entered into an agreement with Eni to jointly evaluate, explore and develop 52,500 gross acres in the Delaware Basin currently held by Quicksilver in the Leon Valley area located in Pecos County, Texas.
Under the terms of the agreement Eni will pay up to $52 million representing 100 percent of drilling, completion and seismic costs to earn a 50 percent interest in Quicksilver’s Pecos County acreage.


The investment by Eni will occur in three phases with the first phase covering the drilling and completion of up to three wells beginning by June 2014. The agreement also provides that, upon funding of the first phase, Eni will earn 50 percent of Quicksilver’s interest in a 7,500 gross-acre tract also located in the Leon Valley area.
Eni will then have the option to fund the drilling and completion of two additional wells and commit to a 3-D seismic survey in order to fully earn a 50 percent interest in Quicksilver’s Pecos County acreage.


After Eni’s $52 million investment, both companies will share equally in all future revenue, operating costs and capital expenditures.
The two companies also will pursue additional opportunities in Pecos and Reeves counties.
“We are pleased to expand Quicksilver's working relationship with Eni to our West Texas project,” said Glenn Darden, president and CEO of Quicksilver Resources. “Eni has been an excellent partner who has helped us enhance the recovery of the gas reserves in the Alliance area of our Barnett development, and we look forward to success on the oil side in the Delaware Basin.”


Quicksilver’s common stock is traded on the New York Stock Exchange under the symbol “KWK.” For more information about Quicksilver Resources, visit www.qrinc.com. - Betty Dillard
 

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