Fort Worth-based Quicksilver Resources said Wednesday it agreed to sell its 50 percent stake in 334,000 acres in Colorado's Sand Wash Basin in the Niobrara Shale to Southwestern Energy for $90 million. Quicksilver shares 50/50 ownership in the property with Shell Western Exploration & Production. Total sales price for the property is $180 million. The transaction is expected to close May 1 and to be effective retroactive to Jan. 1. The deal lets Quicksilver focus on properties in the Barnett Shale, West Texas and Canada and to improve its liquidity, CEO Glenn Darden said in a prepared release.
-- Jim Fuquay