Quicksilver Inks Canadian Joint Venture Plans Barnett Shale MLP

摘要

Quicksilver Energy has signed a memorandum of understanding with a private equity-backed firm to develop a midstream business that would significantly reduce the cost of transporting its Canadian gas production from the Horn Eiver Basin in British Columbia to market. The 50-50 joint venture with Kohlberg Kravis and Roberts (KKR) is expected to close in the next few weeks. The proposed deal structure calls for KKR making a $125 million upfront payment to Quicksilver, and helping to finance the build-out of gas processing and gathering capacity in the play.