Quicksilver Resources Inc. of Fort Worth, TX, closed on theacquisition of substantially all of Unocal Corp.’s Spirit Energy 76unit’s gas and oil assets in Michigan. Total consideration was $27million in cash and 404,381 shares of Quicksilver common stock. Thetransaction is effective January 1, 1999.

The properties include ownership in the Garfield Unit and theBeaver Creek Richfield Unit. Quicksilver’s working interestownership in Garfield will increase to 99% from 54%. The saleincludes about 20,000 net leasehold acres producing about 13,000Mcfe/d. Estimated reserves were not disclosed.

The stock component of the purchase was placed in escrow andwill be distributed over a three-year period. The number of sharesto be transferred will be subject to downward adjustment incorrelation to certain costs, expenses, and liabilities incurredduring the period.

Houston Kauffman, Quicksilver vice president of acquisitions,divestments and trades, said, “These properties fit perfectly withour Michigan operations, give us greater ownership in fields wealready control, and increase our total production substantially.This adds additional Prairie du Chien production, with its highercash flow, to our long-lived Antrim shale gas.”

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