Reliance reported in talks with Quicksilver

Indian energy major Reliance Industries is reported to be in talks with Texas-based Quicksilver Resources, including for a possible buyout of the U.S. firm that develops shale gas and coal-bed methane, the Daily News & Analysis reported on Monday.

The talks also include buying a part stake or partnering Quicksilver for one of its major projects called the Horn River Basin assets in British Columbia, the newspaper said, citing unidentified sources familiar with the development.

Quicksilver, which is estimated to have sales of $900 million this year, currently has two large shale basins with proven reserves of around 2.4 trillion cubic feet, the paper said.

Source: Reuters

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Posted by admin on July 20th, 2010. Filed under Horn River, Shale Basins. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry