Record 2010 Production, Reserves
23rd February 2011
Quicksilver Resources, a natural gas and oil producer based in Fort Worth, said today, February 22, 2011that it achieved record production and reserves in 2010, based on preliminary operating results as of Dec. 31.
The company said its production totaled the equivalent of 130 billion cubic feet of natural gas, or an average equivalent to 355 million cubic feet per day, a 9 percent increase from the prior year.
Quicksilver said it boosted its reserves by more than 20 percent, to the equivalent of more than 2.9 trillion cubic feet of gas at year-end. About 90 percent of the reserves are in North Texas’ Barnett Shale, where the company increased reserves by 22 percent, to the equivalent of 2.6 trillion cubic feet of gas.
"Quicksilver continued its record of consistently growing production and reserves at one of the industries lowest...costs for developed reserves," CEO Glenn Darden said. "Nearly 25 percent of our reserves are liquids which, when coupled with our low full-cycle cost structure, enable to company to generate solid margins even in the current low-price environment of natural gas."
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