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The plan is to build a treatment plant at the end of the TransCanada pipeline. TransCanada recently expanded its pipeline system into the Horn River area.

The partnership will see the two companies jointly build and operate natural gas gathering, transportation and processing infrastructure. Quicksilver will provide its existing pipeline and compression equipment as well as gas delivery contracts. It will dedicate current and future production from its Horn River acreage to the partnership. KKR will pay $125 million for a 50 per cent stake in the joint venture, and will finance Quicksilver in return for preferential distributions to the company.

The deal is intended to process shale gas more cheaply, with Quicksilver saying the new plant will lower the cost of getting gas to market by approximately 80 cents per thousand cubic feet of gas below other alternatives. Toby Darden, Quicksilver’s chairman says, “It will facilitate the sale of natural gas to multiple markets in North America and ultimately to export markets in Asia.”

The completed deal was announced Tuesday, December 27, 2011.

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