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KGS > SEC Filings for KGS > Form 8-K on 11-Jun-2009All Recent SEC Filings

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Form 8-K for QUICKSILVER GAS SERVICES LP


11-Jun-2009

Entry into a Material Definitive Agreement, Financial Statements and


Item 1.01. Entry into a Material Definitive Agreement.

On June 9, 2009, Quicksilver Gas Services LP (the "Partnership") entered into an Option, Right of First Refusal, and Waiver in Amendment to Omnibus Agreement and Gas Gathering and Processing Agreement (the "Option Agreement") among Quicksilver Resources Inc. ("Quicksilver Resources"), the Partnership, Quicksilver Gas Services GP LLC (the "General Partner"), Cowtown Pipeline Partners L.P. ("CPP") and Cowtown Gas Processing Partners L.P. ("CGPP").

The Option Agreement (i) waives certain rights of the General Partner, the Partnership, and related parties to purchase midstream assets located in and around the Alliance Airport area in Tarrant County, Texas (the "Alliance Midstream Assets"), as those rights are defined and described in the Omnibus Agreement, dated August 10, 2007, among the Partnership, the General Partner and Quicksilver Resources, and the Sixth Amended and Restated Gas Gathering and Processing Agreement, dated September 1, 2008, among Quicksilver Resources, CPP and CGPP; (ii) permits Quicksilver Resources and related parties to own and operate the Alliance Midstream Assets; and (iii) grants the Partnership an option and right of first refusal to purchase the Alliance Midstream Assets and certain additional midstream assets located in Denton County, Texas.

The foregoing description is qualified in its entirety by reference to the full text of the Option Agreement, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

CPP and CGPP are indirect wholly-owned subsidiaries of the Partnership. The General Partner, an indirect wholly-owned subsidiary of Quicksilver Resources, holds a 1.9% general partner interest and incentive distribution rights in the Partnership. Quicksilver Resources indirectly holds a 70.9% limited partner interest in the Partnership. Certain officers and directors of the General Partner serve as officers and/or directors of Quicksilver Resources and the general partner of CPP and CGPP.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit    Description
 Number
  10.1       Option, Right of First Refusal, and Waiver in Amendment to Omnibus
           Agreement and Gas Gathering and Processing Agreement, dated as of
           June 9, 2009, among Quicksilver Resources Inc., Quicksilver Gas
           Services LP, Quicksilver Gas Services GP LLC, Cowtown Pipeline Partners
           L.P. and Cowtown Gas Processing Partners L.P.


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