February 22, 2011 / 12:20 PM / in 7 years

UPDATE 1-Quicksilver Resources says 2010 reserves up 20 pct

(Adds details)

Feb 22 - Quicksilver Resources Inc , a gas-focused exploration and production company, said its 2010 reserves rose 20 percent to 2.9 trillion cubic feet of natural gas equivalents.

The Fort Worth, Texas-based company, which announced its preliminary results for 2010, said total production rose 9 percent to 130 billion cubic feet of natural gas equivalents.

The company expects to record a non-cash impairment charge of about $19 million related to its Canadian full cost pool, mainly associated with activities in the Horn River Basin in British Columbia.

The company, which is focused in the unconventional rock formations, owns properties in Texas, Colorado, Wyoming as wells as Canada’s Alberta and British Columbia. (Reporting by Bhaswati Mukhopadhyay in Bangalore)

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