This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Quicksilver Resources Reports Preliminary 2012 Fourth-Quarter And Full-Year Results

Stocks in this article: KWK

The company's ability to sell gas at the Station 2 and AECO hubs has not been impacted by the NEB's recommendation, as its acreage is served by existing treating facilities and pipelines which today can accommodate in excess of 1 billion cubic feet per day. Due to the pace of development in the basin by all producers, discounted excess capacity is available in the region to meet Quicksilver's needs.

Quicksilver's treating and transportation commitment in the Horn River is scheduled to step up to 100 MMcfd on May 1, 2013, assuming the start-up of a third-party treating facility, where it remains until 2018. The gathering, treating and transportation obligation will remain at the 100 MMcfd gross production level until the next scheduled step-up of the Fortune Creek gathering commitment, which the company has the option to defer to as late as 2018.

The company continues to negotiate a potential joint venture in the Horn River Basin, with the downstream marketing of the gas a top priority.

Production from Horseshoe Canyon was 55 MMcfd during the fourth quarter. Development activity in Horseshoe Canyon will continue to be limited in 2013.

United States - Barnett Shale

Quicksilver drilled one well in the fourth quarter, which is expected to be completed in the second half of 2013. For full-year 2012, the company drilled 22 gross (20.6 net) wells and connected 31 gross (26.7 net) wells to sales. At December 31, 2012, Quicksilver had a remaining uncompleted well inventory of 25 gross operated wells that have been drilled in the Barnett Shale but await completion or connection to sales lines.

Quicksilver is engaged in confidential negotiations with a potential buyer to sell a non-operated minority working interest in its Barnett Shale Asset.

United States - Sand Wash Basin

In the fourth quarter, Quicksilver completed its most recent vertical well with initial production of 400 barrels of oil equivalent per day (Boed), which was partially restricted due to surface facility limitations. The well averaged 138 Boed - of which 60% is oil - for the first 90 days of production. With this well, the company has now found oil-productive Niobrara across a distance of 35 miles in an east-to-west band and 7 miles on a north-to-south band on its leasehold in Moffat and Routt counties.

7 of 12

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs