BlueStone closes Quicksilver acquisition; promotes Redmond to COO

BlueStone Natural Resources II LLC has closed on the purchase of Quicksilver Resources Inc.’s US oil and gas assets. These assets consist of 1,017 producing wells in the Barnett shale play, with additional holdings in West Texas. In additional company news, BlueStone has promoted Doug Redmond to the role of COO.

With this acquisition, BlueStone will own more than 1,200 wells in the Barnett shale play. When coupled with its South Texas holdings, BlueStone will have net production of more than 180 MMcfe (million cubic feet equivalent) per day. BlueStone partnered with Natural Gas Partners to purchase the assets. BlueStone has also entered into 10-year agreements with Crestwood Equity Partners LP (NYSE: CEQP) to gather the gas from the Alliance, Lake Arlington, and Cowtown systems, which comprise the majority of the Barnett shale assets.

With regard to the company's COO appointment, Redmond has more than 24 years of experience in the oil and gas industry and had been functioning as BlueStone’s vice president of engineering. He will continue in his role as vice president of engineering as he assumes his additional role as COO.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...