Quicksilver Resources hit by charge as nat gas prices stay weak

Tue Aug 7, 2012 8:35am EDT

Aug 7 (Reuters) - Natural gas-focused producer Quicksilver Resources Inc posted a second-quarter loss on a big impairment charge as weak prices for natural gas and natural gas liquids lower the value of the company's assets.

Quicksilver said its results were hurt by a $992 million non-cash impairment of oil and gas properties due to lower prices.

Net loss was $673 million, or $3.96 per diluted share, compared with net income of $109 million, or 61 cents per share, a year earlier.

Revenue fell 28 percent to $151 million.

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