Boston, MA 03\/28\/2014 (wallstreetpr) – In order to extinguish its debts and refocus on core activities, Quicksilver Resources Inc (NYSE:KWK)<\/b> which is an independent player in the oil and gas acquisition, explorations and production business, is letting go some of its joint properties. The company early this month agreed with its partner SWEPI, a wholly-owned subsidiary of Shell, to sell 312,000 acres of their assets in Sand Wash Basin, Colorado. The deal which involves sale to Southwester Energy Co. is expected to close in May and is valued at $180 million. The proceeds will be split evenly between the companies. KWK and SWEPI which own the 312,000 net acres jointly first joined forces in 2012 with the interest of developing oil and gas assets in Sand Wash Basin. The latest property sale deal comes on the back of Quicksilver\u2019s March 2013 sale of 25 percent stake of its property in Barnett Shale for $485 million to Tokyo Gas Co. That deal resulted in partnership at the Barnett Shale, however, Quicksilver Resources Inc (NYSE:KWK) continued to operate the property. According to CEO Glenn Darden, Quicksilver has its eyes set on driving value for investors and this means selling stake in some properties, especially non-core assets and putting in place more disciplined costs and expenses management in order to shore up the balance sheet and focus more on core operations.<\/p>\n
Analysts maintain that there is no alarm in the continued fall in the share price of 22nd Century Group Inc (NYSEMKT:XXII)<\/b>. Having known downward trend for quite a long time in the past, market experts believe that from here, the stock can only go up, with little chances of falling further. Thus, analysts believe that the noted fall in the stock in the previous session simply provides a buy opportunity for investors who dare to heed the advice. XXII recently got elevated to a senior listing and this move has come with its fair share of excitement and hope around the stock.<\/p>\n
Diamondback Energy Inc (NASDAQ:FANG)<\/b> did not disappoint its new rating status. The stock surged to a new 52-week high after it received positive comments from analysts at Brean Capital. The firm adjusted its price target in the stock from $59 to $66 and assigned a buy recommendation. On solid volume, FANG closed up 4.85 percent to $68.04.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 03\/28\/2014 (wallstreetpr) – In order to extinguish its debts and refocus on core activities, Quicksilver Resources Inc (NYSE:KWK) which is an independent player […]<\/p>\n","protected":false},"author":15,"featured_media":18251,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[5456,5640,5641,1976,5457,1975],"stock_ticker":[],"class_list":["post-18250","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-22nd-century-group-inc-nysemktxxii","tag-diamondback-energy-inc-nasdaqfang","tag-nasdaqfang","tag-nysekwk","tag-nysemktxxii","tag-quicksilver-resources-inc-nysekwk","entry"],"acf":[],"yoast_head":"\n