Attached files
Exhibit
99.2
 |
N e
w s R e l e a s
e
QUICKSILVER GAS SERVICES LP
777
West Rosedale Street
Fort
Worth, TX 76104
|
Quicksilver Gas Services
Announces Offering of 4 Million Common Units
FORT WORTH, TEXAS, (December
10, 2009) – Quicksilver Gas Services LP (NYSE: KGS) announced today that it has
filed with the Securities and Exchange Commission a preliminary prospectus
supplement for an offering of 4 million common units representing limited
partner interests. The company also granted the underwriters a 30-day
option to purchase up to 600,000 additional common units representing limited
partner interests. The company initially expects to use the net
proceeds from this offering to repay outstanding borrowings under its revolving
credit facility. The company subsequently intends to re-borrow
approximately $87.1 million under this facility in order to fund the acquisition
of Alliance midstream gathering and treating assets, located in the northern
portion of the Fort Worth Basin, from Quicksilver Resources Inc.
Wells
Fargo Securities, BofA Merrill Lynch, Citi, UBS Investment Bank and Barclays
Capital are acting as joint book-running managers, Goldman, Sachs & Co. is
acting as senior co-manager and Capital One Southcoast, Comerica Securities,
BBVA Securities and Ladenburg Thalmann & Co. Inc. are acting as
co-managers. A preliminary prospectus supplement and accompanying
base prospectus relating to the offering have been filed with the U.S.
Securities and Exchange Commission and are available on its website, www.sec.gov.
This
press release does not constitute an offer to sell or a solicitation of an offer
to buy any securities, nor shall there be any sale of these securities in any
jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
jurisdiction. A registration statement relating to the securities has
been filed and is effective. The offering will be made only by means
of a preliminary prospectus supplement and accompanying base prospectus, copies
of which may be obtained from Wells Fargo Securities, Attn: Equity Syndicate
Dept., 375 Park Avenue, New York, New York 10152 or email:
equity.syndicate@wachovia.com or tel: (800) 326-5897; BofA Merrill Lynch, 4
World Financial Center, New York, NY 10080, Attn: Preliminary Prospectus
Department or email: Prospectus.Requests@ml.com; Citi, Attn: Prospectus Dept.,
Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY, 11220 or tel:
(800) 831-9146; UBS Investment Bank, Attn: Prospectus Department, 299 Park
Avenue, New York, NY 10171 or tel: (888) 827-7275; and Barclays Capital c/o
Broadridge Integrated Distribution Services, 1155 Long Island Avenue, Edgewood,
NY 11717 or email: Barclaysprospectus@broadridge.com or tel: 1 (888)
603-5847.
-more-
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NEWS
RELEASE
Page 2 of
2
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About
Quicksilver Gas Services
Quicksilver
Gas Services LP is a midstream master limited partnership engaged in the
business of gathering and processing natural gas produced from the Barnett Shale
formation in the Fort Worth Basin in north Texas. Headquartered in
Fort Worth, the company’s predecessors began operations in 2004 to provide
midstream services primarily to Quicksilver Resources Inc.
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Investor
and Media Contact:
Rick
Buterbaugh
817-665-4835
KGS
09-14
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