News For KWK From The Last 14 Days Check below for free stories on KWK the last two weeks.
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February 8, 2010
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| 15:56 EDT |  | KWK |
| theflyonthewall.com: | Quicksilver settles litigation with BreitBurn Energy | | Quicksilver Resources (KWK) announced that it has agreed with BreitBurn Energy Partners (BBEP) and Provident Energy Trust (PVX) to settle all existing litigation among the parties, subject to execution of final settlement documentation and payment of damages. The following terms are included in the settlement: Quicksilver will retain full voting rights on its approximate 21.348 million units of BreitBurn, representing approximately 41% of the outstanding partnership interests, in accordance with the provisions of a limited standstill agreement; Messrs Washburn and Breitenbach will resign from the BreitBurn board of directors and Quicksilver shall have the right to name two of the six members of the BreitBurn board; BreitBurn will resume regular quarterly cash distributions starting at the minimum annual rate of $1.50 per unit, beginning with the first quarter and payable in the second quarter of 2010, resulting in an expected annual distribution of approximately $32M to Quicksilver; Quicksilver will receive a total of $18M; $13M to be paid by BreitBurn and $5M to be paid by Provident. :theflyonthewall.com |
| | 10:39 EDT |  | KWK |
| | 09:10 EDT | | KWK |
| theflyonthewall.com: | BreitBurn Energy announces settlement with Quicksilver | | BreitBurn Energy Partners (BBEP) announced that all litigation between the Partnership and its directors and Quicksilver Resources (KWK) has been settled. BreitBurn also announced its intention to reinstate quarterly cash distributions at the rate of $0.375 per quarter, or $1.50 on an annualized basis, beginning with the 1Q10 distribution.The Partnership intends to pay this distribution on or before May 15. :theflyonthewall.com |
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