Quicksilver Buys Into Barnett Shale

Quicksilver Resources has agreed to buy assets in the Barnett Shale site ina bid to boost output. The Texan gas producer will pay US$1.31bn for assets owned by Chief Resources, Hillwood Oil & Gas and Collins & Young. The purchase will be financed by a US$700mn term loan, US$307mn in stock and US$1bn in cash. Quicksilver expects the acquisitions to close in August.

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