Quicksilver Gas Services Provides Guidance on 2010 Volumes
23 12월 2009 - 6:15AM
Marketwired
Quicksilver Gas Services LP (NYSE: KGS) announced today that it
expects 2010 average gathered volumes of approximately 500 million
cubic feet per day (MMcfd) and that 2010 processed volumes will
average more than 170 MMcfd. Gathered volumes are projected to more
than double from the projected 2009 level and processed volumes are
expected to increase more than 10%. The increase in gathering
volumes is primarily due to the previously announced acquisition of
the Alliance midstream assets from Quicksilver Resources (NYSE:
KWK) and the associated volume of gas gathered and treated by these
assets.
"The acquisition of the Alliance midstream assets is expected to
be immediately accretive to all unitholders for both earnings and
distributable cash flow," said Toby Darden, Quicksilver Gas
Services president and chief executive officer. "These assets
complement our existing operations in the Fort Worth Basin and
provide opportunities for even stronger organic growth in the
future."
The Alliance assets that are being acquired consist of gathering
systems and related compression facilities with an aggregate
current capacity of 115 million cubic feet per day (MMcfd), and a
plant with amine treating capacity of 180 MMcfd and dehydration
treating capacity of 200 MMcfd to the gathered gas.
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.
Forward-Looking Statements
The statements in this news release regarding future events,
occurrences, circumstances, activities, performance, outcomes and
results are forward-looking statements. Although these statements
reflect the current views, assumptions and expectations of
Quicksilver Gas Services LP's management, the matters addressed
herein are subject to numerous risks and uncertainties, which could
cause actual activities, performance, outcomes and results to
differ materially from those indicated. Factors that could result
in such differences or otherwise materially affect Quicksilver Gas
Services LP's financial condition, results of operations and cash
flows include: changes in general economic conditions; fluctuations
in natural gas prices; failure or delays in Quicksilver Resources
Inc. and third parties achieving expected production from natural
gas projects; competitive conditions in our industry; actions taken
or non-performance by third parties, including suppliers,
contractors, operators, processors, transporters and customers;
fluctuations in the value of certain of our assets and liabilities;
changes in the availability and cost of capital; operating hazards,
natural disasters, weather-related delays, casualty losses and
other matters beyond our control; construction costs or capital
expenditures exceeding estimated or budgeted amounts; the effects
of existing and future laws and governmental regulations; and the
effects of current and future litigation; as well as other factors
disclosed in Quicksilver Gas Services LP's filings with the
Securities and Exchange Commission. Except as required by law, we
do not intend to update or revise any forward-looking statements,
whether as a result of new information, future events, or
otherwise.
KGS 09-16
Investor and Media Contact: Rick Buterbaugh 817-665-4835
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