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KWK nice news AH: SAN FRANCISCO (MarketWatch) -- Quicksilver Resources Inc. (KWK : quicksilver resources inc com
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Last: 38.38+1.67+4.55%

6:22pm 01/30/2007

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KWK38.38, +1.67, +4.5%) late Tuesday said its year-end 2006 proved reserves stood at 1.57 trillion cubic feet equivalents, up 515 billion cubic feet of gas equivalents from the company's prior year-end reserves. The Fort Worth, Texas-based gas and oil company said natural gas and natural gas liquids made up 98% of the total proved reserves. Quicksilver said it replaced 840% of its full year production at an estimated all-in finding and development cost of less than $1.10 per thousand cubic feet equivalent. The company's 2007 capital expenditure budget will be $610 million, the company said, adding that it expects to grow production volumes by 25% over 2006 volumes.