Quicksilver (KWK +4.5%) says it's cutting its full-year capital expenditure budget by $50M to...


Quicksilver (KWK +4.5%) says it's cutting its full-year capital expenditure budget by $50M to $360M citing reduced drilling activity. Q2 results were hurt by a $992M non-cash impairment of oil and gas properties due to lower prices. KWK lowers its 2012 production estimate to 365-380 MMcfe/day vs. its prior outlook of ~412 MMcfe/day.

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