Quicksilver Gas Services LP Acquires Lake Arlington Dry System
09 12월 2008 - 3:07AM
Marketwired
Quicksilver Gas Services LP (NYSE Arca: KGS) announced that it has
completed the purchase of the Lake Arlington Dry System, the
midstream gathering and compression assets located in Tarrant
County, Texas, from Quicksilver Resources Inc. for $42 million. The
purchase was funded through draws on the company's senior secured
credit facility.
Total commitments on the company's senior secured revolving
credit facility of $235 million are subject to a borrowing
limitation imposed by financial covenants which currently limit
borrowing capacity to approximately $204 million. The company
currently has approximately $160 million drawn on the facility.
About Quicksilver Gas Services
Quicksilver Gas Services LP is a midstream master limited
partnership engaged in the business of gathering and processing
natural gas produced from the Barnett Shale formation in the Fort
Worth Basin in north Texas. Headquartered in Fort Worth, the
company's predecessors began operations in 2004 to provide
midstream services primarily to Quicksilver Resources Inc. For more
information about Quicksilver Gas Services, visit
www.kgslp.com.
KGS 08-12
Investor and Media Contact: Rick Buterbaugh 817-665-4835
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