Quicksilver Resources Expects Oil And Gas Production Growth Reached 20 Percent In 2010
November 3rd, 2009 | File Under : Companies - Natural Gas - Oil and Gas - Petroleum
Oil and gas company Quicksilver Resources expects oil and gas production can reach 20 percent in 2010. Currently the company has increased production to reach 340 mmcfe per day, compared with production in the third quarter production of 311 mmcfe per day. Production growth driven by the improvement of the Barnett shale assets in the Fort Worth Basin, Texas.
“Improved pricing for natural gas liquids coupled with lower service costs for pressure pumping have significantly enhanced our opportunities to begin accelerating completion activities in the southern portion of the basin,” Chief Executive Glenn Darden said in a statement.
Quicksilver also said it added new derivative contracts covering a portion of its expected natural gas production for calendar 2010 through 2012 and natural gas liquids production for 2010.
Shares of the company closed at $12.20 Friday on the New York Stock Exchange. They rose 2.4 percent Monday morning, before market open.
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