Quicksilver shares jump on higher capex, oil potential

摘要

Houston-Shares of small, natural gas-oriented independent Quicksilver Resources jumped 3% May 9 after the company increased its capital spending budget and executives offered aggressive plans for expanding oil opportunities. "We built the largest inventory of new projects in our company's history," said Quicksilver CEO Glenn Darden during a conference call with analysts to discuss the Fort Worth-based company's first-quarter results. He said: "Quicksilver has assembled meaningful acreage positions in four developing oil plays and three natural gas plays, where Quicksilver can use its expertise in unconventional resource development to cost-effectively grow our reserve base and production."