W. Yandell Rogers, an independent director on the Quicksilver Resources board since March 1999, was elected chairman at the Fort Worth-based producers board meeting Wednesday. Rogers is CEO of Priest River Ltd., described by the company as a private holding company. He replaces Thomas "Toby" Darden, 59, who remains on the board as chairman emeritus but will retire Dec. 31, the company said today. Quicksilver said Darden "will continue as an employee of the company through the end of the year, focusing on strategic transactions including the pursuit of a joint venture in the Horn River Basin in British Columbia," and "will continue to advise the company on the Horn River Basin development and other projects."
"We deeply appreciate Toby's leadership and his many valuable contributions to the growth of Quicksilver," Rogers said in a prepared release. "We are fortunate that we will benefit from his continued counsel as a director and a consultant." In the same release, Darden said: "It has been my pleasure to serve with so many outstanding and talented employees from Quicksilver and affiliated companies over the past 38 years. Together we have produced billions of dollars of revenues and developed trillions of cubic feet of natural gas reserves. I look forward to continuing as an active director on the Board and in my advisory role as the company moves forward in our joint venture efforts in the Horn River Basin." Quicksilver's CEO is Glenn Darden, 57. He has held the post since December 1999.
-- Jim Fuquay