Quicksilver forecasts strong production growth

Quicksilver says production to grow 24 pct this year, 20 pct in 2010

• On 4:12 pm EST, Monday November 2, 2009

FORT WORTH, Texas (AP) -- Quicksilver Resources Inc., a natural gas and oil producer, said Monday it expects annual production growth of 24 percent in 2009 and 20 percent in 2010.

Quicksilver said 2009 production remains on pace to produce an average of more than 325 million cubic feet equivalent per day, a company record fueled by continued development of the Barnett Shale formation in the Fort Worth Basin. In this region, company-operated projects at Alliance and Lake Arlington have been driving growth, as improved efficiencies have increased the extraction of natural gas liquids by about 9 percent to about 125 barrels per million cubic feet of gas processed.

Meanwhile, 2010 growth should be driven by improved pricing for natural gas liquids and lower service costs for pressure pumping, which should speed up completion activities in the southern portion of the basin, the company said.

Shares of Quicksilver fell 6 cents to $12.14 per share in trading Monday.