Quicksivler Resources CEO Glenn M. Darden discussed his company’s first-quarter fiscal performance and its collaboration with Shell Oil in Northwest Colorado during a May 7 conference call.
Darden said his company recorded an adjusted net loss for the first quarter of $6 million compared with $15 million in the prior period.
“As we’ve said in our earnings release, Quicksilver is continuing to make progress on our streamlining and deleveraging efforts. We have narrowed our focus on the most important projects and are bringing in partners to both reduce debt and assist in the development going forward,” Darden said.
“This began at the end of last year when the company announced an agreement to combine acreage with Shell to from a very large block of contiguous acres in the Sand Wash Basin in Northwest Colorado pursuing the Niobrara” Shale.
“Because Quicksilver had a larger acreage position in the basin, we received an equalization payment, which we applied to debt reduction. We will now develop this project together on a 50-50 basis, initially concentrating on unitizing land, shooting seismic and drilling additional confirmation wells. This is a large project comprised of over 330,000 net acres with an area of mutual interest almost (three times) larger. It is also Quicksilver’s biggest project to diversify our product mix as it is primarily a high-gravity oil play.”
Steamboat Chamber hosts business roundtable May 21
Doug Davis, of Bike Town USA; Kristal Eckley, of the Sheraton Steamboat Resort; and Tracy Barnett, of Mainstreet Steamboat Springs, will be at the rostrum when the Steamboat Springs Chamber Resort Association hosts a business outlook breakfast from 8 to 9 a.m. May 21 at Rex’s American Grill & Bar.
The cost is $15 for members and $20 for nonmembers and includes a continental breakfast.
Registration is required by Friday to rsvp@steamboat chamber.com or 970-875-7000.
Todd Conklin is awarded coveted SRS designation
Todd Conklin — CEO of Coldwell Banker Distinctive Properties in Steamboat Springs, Vail and Sun Valley — has completed the Premier Seller Agency Designation Course for real estate professionals and has been awarded the Seller Representative Specialist designation, according to a news release.
The designation is for specially trained seller advocates with extensive training in manual and electronic marketing methods.
“Todd’s extensive experience and designations such as the Sellers Representative Specialist and Previews International Specialist provide our company with a unique perspective on working with sellers,” Susie Huxford, managing director of Coldwell Banker Distinctive Properties Vail office, said in the release.
“Education is a leading principle in this company, and it can be seen at every level of the firm,” Giles Howard, managing director of Coldwell Banker Distinctive Properties Steamboat Springs office, said in the release.
Electric Association names consumer account manager
Yampa Valley Electric Association named Melissa Watson manager of consumer accounts, according to a news release.
Watson graduated with a Bachelor of Science in business administration and marketing from Christopher Newport University and a Master of Business Administration from Strayer University. She also is a veteran of the U.S. Navy, according to the release.
Watson joined YVEA after working at Consolidated Electric Cooperative in Ohio, where she served as director of member services, according to the release.
Seminar offered for those starting small businesses
A First Steps seminar for those who are interested in starting a small business is from 6 to 8:30 p.m. Wednesday in the new Academic Center, Room 127, at Colorado Mountain College. The free seminar will help attendees answer the following questions:
Who are my customers, why do they want/need my product/service and how many are out there? How do I build a revenue/sales forecast? How much money will I need to start a business and how do I build a monthly expense budget? What is the forecast for profit/loss my first two years? What are the sources of funding for my business and what do they require? What resources are available to help me with the planning process?
For more information, call Small Business Resource Center Manager Randy Rudasics at 970-870-4491.
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