EX-99.1 2 ex99_1.htm QUICKSILVER GAS SERVICES LP PRESS RELEASE DATED SEPTEMBER 2, 2008 ex99_1.htm
 
 
Exhibit 99.1    
      
    
N e w s   R e l e a s e  
      
        QUICKSILVER GAS SERVICES LP    
        777 West Rosedale Street    
Fort Worth, TX  76104    
www.kgslp.com    
      

 
Quicksilver Gas Services Expands 2008 Capital Budget

FORT WORTH, TEXAS, (September 2, 2008) – Quicksilver Gas Services LP (NYSE Arca: KGS) announced that its board of directors has unanimously approved an increase of approximately $65 million to its 2008 capital budget to further expand and upgrade the company’s gathering and processing network.  In addition, the board approved approximately $40 million for the purchase of the Lake Arlington dry gathering system from Quicksilver Resources Inc. (NYSE: KWK).

The 2008 capital budget now totals $185 million and includes approximately $39 million for the construction of pipelines and gathering systems, approximately $26 million for compression, approximately $80 million associated with the construction of a third natural gas processing plant and approximately $40 million for the purchase of the Lake Arlington dry gathering system.

“Rapid demand growth for our gathering and processing services has provided incentives to expand and further upgrade our system at a faster rate than previously anticipated,” said Thomas (Toby) Darden, Quicksilver Gas Services president and chief executive officer.  “We are adding compression to our system to decrease line pressures and enable greater throughput to the existing gathering system.  We are also fast-tracking start-up of the first phase of our third processing plant to become operational by year end.”

Separately, Quicksilver Resources’ board of directors has approved additional pipeline-related capital expenditures associated with the Fort Worth Basin of approximately $20 million for 2008.  Quicksilver Gas Services will operate these assets on behalf of Quicksilver Resources and expects to acquire these assets over time.

About Quicksilver Gas Services

Fort Worth, Texas-based Quicksilver Gas Services is a growth-oriented limited partnership in the business of gathering and processing natural gas produced from the Barnett Shale geologic formation in the Fort Worth basin of north Texas.  The company began operation in 2004 to provide these services to Quicksilver Resources Inc., which owns our general partner.  For more information about Quicksilver Gas Services, visit www.kgslp.com.
 
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Forward-Looking Statement
The statements in this news release regarding future events, occurrences, circumstances, activities, performance, outcomes and results are forward-looking statements.  Although these statements reflect the current views, assumptions and expectations of Quicksilver Gas Services LP’s management, the matters addressed herein are subject to numerous risks and uncertainties, which could cause actual activities, performance, outcomes and results to differ materially from those indicated.  Factors that could result in such differences or otherwise materially affect Quicksilver Gas Services LP’s financial condition, results of operations and cash flows include:  changes in general economic conditions; fluctuations in natural gas prices; failure or delays in Quicksilver Resources Inc. and third parties achieving expected production from natural gas projects; competitive conditions in our industry; actions taken by third-party operators, processors and transporters; changes in the availability and cost of capital; operating hazards, natural disasters, weather-related delays, casualty losses and other matters beyond our control; construction costs or capital expenditures exceeding estimated or budgeted costs or expenditures; the effects of existing and future laws and governmental regulations; and the effects of future litigation; as well as other factors disclosed in Quicksilver Gas Services LP’s filings with the Securities and Exchange Commission.  Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.




Investor and Media Contact
Rick Buterbaugh
817-665-4835
 
KGS 07-06
 
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