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CORRECTED - CORRECTED-UPDATE 1-Quicksilver Resources Q3 adj profit beats Str

Mon Nov 9, 2009 1:02pm EST

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(Corrects paragraph 2 to clarify net income was $730,000, not $730,000 million)

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* Q3 adj EPS $0.25 vs est of $0.22

* Q3 revenue fell 12.4 pct

* Sees Q4 production of 330-340 mmcfed

Nov 9 (Reuters) - Oil and natural gas company Quicksilver Resources Inc (KWK.N) reported third-quarter adjusted profit that beat analyst estimates, helped by lower production expenses and increased production.

For the quarter, the company's net income was $730,000, compared with a loss of $3.8 million, or 2 cents a share, a year earlier.

Excluding items, net income was $42.7 million, or 25 cents a share.

Revenue fell 12.5 percent to $206.7 million.

Analysts on average were expecting Quicksilver to earn 22 cents a share on revenue of $206 million, according to Thomson Reuters I/B/E/S. Average production rose 12 percent to 311 million cubic feet equivalent per day (mmcfed). For the fourth quarter, the company forecast production of 330 to 340 mmcfed. Shares of the company closed at $12.85 Friday on the New York Stock Exchange.

For the alerts, please double click [ID:] (Reporting by Arup Roychoudhury in Bangalore; Editing by Jarshad Kakkrakandy)

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