SOURCE: Quicksilver Gas Services LP

Quicksilver Gas Services LP

December 22, 2009 16:15 ET

Quicksilver Gas Services Provides Guidance on 2010 Volumes

FORT WORTH, TX--(Marketwire - December 22, 2009) - 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

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

Contact Information

  • Investor and Media Contact:
    Rick Buterbaugh