Fort Worth-based Quicksilver Resources told financial analysts this morning that it is nearing completion either an outright sale of a minority stake in its Barnett Shale holdings to a joint venture partner or moving assets into a master limited partnership. The preferred outcome is "selling a minority stake and bringing in a partner who helps us over time," said CEO Glenn Darden. While not discussing dollar amounts that it might generate with the move, said "it's a significant amount." He emphasized that with the proceeds "we are going to pay down debt," which stood at nearly $2.2 billion as of Sept. 30. "We could sell a working interest," he told analysts. The company also mentioned an asset disposition in the Barnett Shale during the company's second-quarter conference call, but Darden said he expects a resolution "fairly shortly."
-- Jim Fuquay