Quicksilver Gas sees boost in 2010 volumes

AP News
Posted: Dec 22, 2009 5:28 PM

Quicksilver Gas Services LP said Tuesday it will gather and process more natural gas in 2010 compared with 2009, mainly due to its acquisition of Alliance midstream assets from its parent company, Quicksilver Resources Inc.

Next year Quicksilver Gas expects gathered volumes to double and processed volumes to rise more than 10 percent from 2009 levels. The company estimated 2010 average gathered volumes of about 500 million cubic feet per day (MMcfd) and average processed volumes of more than 170 MMcfd.

The acquired Alliance assets consist of gathering systems and compression facilities with a total current capacity of 115 MMcfd and a plant with amine treating capacity of 180 MMcfd and dehydration treating capacity of 200 MMcfd to the gathered gas.

"These assets complement our existing operations in the Fort Worth Basin and provide opportunities for even stronger organic growth in the future," said Toby Darden, CEO of Quicksilver Gas Services, in a statement.

Shares of the company closed flat at $20.79. Quicksilver Resources shares rose 6 cents to $15.56.