Reliance in talks to buy stake in Quicksilver: Report - Hindustan Times
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Reliance in talks to buy stake in Quicksilver: Report

Reuters | By, Mumbai
Jul 19, 2010 10:02 AM IST

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

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

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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.

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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.

A Reliance spokesman told the paper he would not comment on market speculation.

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