Quicksilver sells midstream gas business for $1 billion

摘要

Houston-Fort Worth-based independent producer Quicksilver Resources said late July 22 it is selling for $1 billion its Quicksilver Gas Services midstream unit to Crestwood Midstream Partners, a company partly owned by private equity firm First Reserve. The deal will net Quicksilver an immediate $701 million in cash at closing, which is expected in October, the company said in a statement. Proceeds from the sale will be used to repay some $528 million Quicksilver owes under its $1 billion senior secured credit facility.