UBS Maintains a 'Neutral' on Quicksilver Resources (KWK); Lowers Production Guidance; Inks HRB JV
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Price: $0.15 --0%
Rating Summary:
0 Buy, 6 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 55
Rating Summary:
0 Buy, 6 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 55
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UBS maintains a 'Neutral' on Quicksilver Resources (NYSE: KWK) price target lowered $2 to $9.
UBS analyst says, "Key highlights from the conference call: 1) signed MOU with KKR for Horn River midstream JV for $125 MM cash and will be carried for its 50% through the $120 MM capex budget; expected to reduce gathering & transport by ~50% to ~$0.80/Mcfe. 2) expects to lower net debt another ~10% by YE11 to $1.9bn & another $500MM to $1.4 bn by YE12 3) early details on vertical Niobrara w/ IPs of 70 Boed, 30% RoR, $2.9 MM well costs and 225 MBoe EURs, 4) more details on ~$400 MM MLP when S-1 is filed this year."
"...We lowered ‘11-12E EPS/CFPS to $0.10/$1.30 & ($0.10)/$1.20 from $0.15/$1.40 & $0.10/$1.55 on lower production (‘11-‘12 now at +17% and +15% vs +19% and +20% prior), higher costs, and lower price realizations."
For an analyst ratings summary and ratings history on Quicksilver Resources click here. For more ratings news on Quicksilver Resources click here.
Shares of Quicksilver Resources closed at $7.69 yesterday.
UBS analyst says, "Key highlights from the conference call: 1) signed MOU with KKR for Horn River midstream JV for $125 MM cash and will be carried for its 50% through the $120 MM capex budget; expected to reduce gathering & transport by ~50% to ~$0.80/Mcfe. 2) expects to lower net debt another ~10% by YE11 to $1.9bn & another $500MM to $1.4 bn by YE12 3) early details on vertical Niobrara w/ IPs of 70 Boed, 30% RoR, $2.9 MM well costs and 225 MBoe EURs, 4) more details on ~$400 MM MLP when S-1 is filed this year."
"...We lowered ‘11-12E EPS/CFPS to $0.10/$1.30 & ($0.10)/$1.20 from $0.15/$1.40 & $0.10/$1.55 on lower production (‘11-‘12 now at +17% and +15% vs +19% and +20% prior), higher costs, and lower price realizations."
For an analyst ratings summary and ratings history on Quicksilver Resources click here. For more ratings news on Quicksilver Resources click here.
Shares of Quicksilver Resources closed at $7.69 yesterday.
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