Key Developments: Quicksilver Resources Inc (KWK.N)
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Latest Key Developments (Source: Significant Developments)
Quicksilver Resources Inc Launches $600 Million Second Priority Senior Secured Term Loan
Quicksilver Resources Inc announced that it is launching a loan syndication for a new $600 million senior secured second priority term loan facility maturing in 2019 (the Second Priority Term Loan Facility). There can be no assurance Quicksilver will receive commitments for the $600 million of the Second Priority Term Loan Facility or as to the terms of such facility. In addition, the closing of the Second Priority Term Loan Facility will be subject to customary conditions and there can be no assurance that the closing of the Second Priority Term Loan Facility will occur. If consummated, the proceeds of the Second Priority Term Loan Facility are expected to be used, together with any other debt financing transactions Quicksilver may undertake, to purchase the Notes tendered in the Tender Offer and pay the related consent payments, if any, and fees and expenses in connection therewith. Quicksilver is contemplating an offering of senior unsecured notes in an aggregate principal amount up to $675 million and an offering of senior second priority secured notes in an aggregate principal amount up to $200 million, subject to market conditions, in addition to the Second Priority Term Loan Facility. There can be no assurance that Quicksilver will be able to complete any offering of notes. Full Article
Quicksilver Resources Inc Issues Q2 2013 Production Guidance; Lowers FY 2013 Production Guidance
Quicksilver Resources Inc announced that for second quarter of 2013, it expects average daily production volume to be 282 - 288 MMcfe per day, and fiscal 2013 production volume is expected to be 290 - 300 MMcfe per day. Full Article
TOKYO GAS CO LTD's Sub-subsidiary Signs Contract to Acquire Stake in Gas Development Business from Quicksilver Resources Inc.
TOKYO GAS CO LTD announced that its sub-subsidiary, TG Barnett Resources LP, has signed a contract with Quicksilver Resources Inc., to acquire a 25% stake in the gas development business in Barnet Basin, Texas, United States, for USD 485 million. Full Article
Quicksilver Resources Inc Issues Q1, FY 2013 Production Guidance
Quicksilver Resources Inc announced that for first quarter of 2013, it expects average daily production volume to be 360 - 365 MMcfe per day, and fiscal 2013 production volume is expected to be 335 - 345 MMcfe per day, originating as follows: 65% in the Barnett Shale, 33% in Canada, and 2% in other U.S. basins. Average daily production volumes are expected to consist of 82% natural gas and 18% natural gas liquids and crude oil. Full Article
Quicksilver Resources Inc Issues Q4 2012 Production Guidance; Lowers FY 2012 Production Guidance
Quicksilver Resources Inc announced that for fourth quarter of 2012, it expects daily production volume to be 330-340 MMcfe per day, resulting in fiscal 2012 average production volume at 350-365 MMcfe per day. Full Article
Quicksilver Resources Inc. Issues Q3, FY 2012 Production Guidance
Quicksilver Resources Inc. announced that for the third quarter of 2012, it expects average daily production volume to be 385-400 MMcfe per day. For fiscal 2012, it expects average production volume to be 365-380 MMcfe per day. Full Article
Quicksilver Resources Inc. Issues Q2 2012 Production Guidance
Quicksilver Resources Inc. announced that second quarter 2012 average daily production volume is expected to be 375-385 MMcfe per day. Full Article
Quicksilver Resources Inc. Announces Appointment Of New Chief Financial Officer
Quicksilver Resources Inc. announced that Philip Cook, Quicksilver's Chief Financial Officer, will resign upon the filing of Quicksilver's Annual Report on Form 10-K, which is expected the week of April 16, 2012, to become the Chief Financial Officer of Samson Resources Corporation. John C. Regan, Quicksilver's Vice President, Controller and Chief Accounting Officer, will succeed Mr. Cook as Quicksilver's Chief Financial Officer. Mr. Regan will serve as Chief Financial Officer in addition to his current duties which he will retain on an interim basis. Full Article
Quicksilver Resources Inc. Issues FY 2012 And Q1 2012 Production Guidance
Quicksilver Resources Inc. announced that fiscal 2012, production volumes to be essentially flat to fiscal 2011 volumes and for the first quarter of 2012, it expects average daily production volume to be in the 375-385 MMcfe per day range with volumes building in the second and third quarters. Full Article
Quicksilver Resources Inc. Announces Filing Of Registration Statement By Quicksilver Production Partners LP
Quicksilver Resources Inc. announced that Quicksilver Production Partners LP (QPP), a wholly-owned subsidiary of Quicksilver, has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the SEC) related to the proposed initial public offering of common units representing limited partner interests (the common units). In connection with the initial public offering, Quicksilver will contribute certain of its Barnett Shale assets and related derivatives to QPP. QPP intends to use the net proceeds of the initial public offering and borrowings under a planned new bank credit facility (along with the issuance to Quicksilver of common and subordinated units) as consideration for the contribution by Quicksilver of such assets. Quicksilver intends to use the proceeds received from QPP to retire a portion of its debt. J.P. Morgan and Credit Suisse are acting as lead book-running managers for the proposed offering. Full Article
Quicksilver Resources cancels IPO because of weak NGL prices
- Quicksilver Resources Inc reported a loss for the fifth straight quarter due to weak prices for natural gas liquids, and said it would withdraw the $250 million initial public offering of a master limited partnership (MLP).

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