Quicksilver Resources Inc.
NYSE : KWK

Quicksilver Resources Inc.

May 18, 2006 17:28 ET

Quicksilver Resources Announces Update of Natural Gas Collars

FORT WORTH, TX--(CCNMatthews - May 18, 2006) -

Addition of Collars Increases Average Floor and Ceiling for 2007 & 2008

Quicksilver Resources Inc. (NYSE: KWK) announced today the addition of price hedges in the form of financial derivative collars, which has increased the average floor and ceiling for future sales of natural gas volumes in 2007 and 2008.



Natural Gas Mcf per Day Average Floor Average Ceiling
June - December 2006 80,000 $7.33 $10.29
January - December 2007 87,000 $8.35 $12.00
January - March 2008 40,000 $8.59 $13.83


President and CEO Glenn Darden commented, "Having the certainty of these prices for a large portion of our natural gas will help Quicksilver continue its drill-bit growth strategy with excellent rates of return. The company will be accelerating its drilling activity as the year progresses."

About Quicksilver Resources

Fort Worth, Texas-based Quicksilver Resources is a natural gas and crude oil production company engaged in the development and acquisition of long-lived natural gas and crude oil properties. The company, widely recognized as a leader in the development and production of unconventional natural gas reserves, including coal bed methane, shale gas, and tight sands gas, is listed on the New York Stock Exchange (KWK). It has offices in Fort Worth, Texas; Granbury, Texas; Gaylord, Michigan; Corydon, Indiana; Cut Bank, Montana; and Calgary, Alberta, Canada. For more information about Quicksilver Resources, visit www.qrinc.com.

The statements in this press release regarding future events, occurrences, circumstances, activities, performance, outcomes and results are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although these statements reflect the current views, assumptions and expectations of Quicksilver Resources' management, the matters addressed herein are subject to numerous risks and uncertainties, which could cause actual activities, performance, outcomes and results to differ materially from those indicated. Factors that could result in such differences or otherwise materially affect Quicksilver Resources' financial condition, results of operations and cash flows include: changes in general economic conditions; fluctuations in natural gas and crude oil prices; failure or delays in achieving expected production from natural gas and crude oil exploration and development projects; uncertainties inherent in estimates of natural gas and crude oil reserves and predicting natural gas and crude oil reservoir performance; effects of hedging natural gas and crude oil prices; competitive conditions in our industry; actions taken by third-party operators, processors and transporters; changes in the availability and cost of capital; operating hazards, natural disasters, weather-related delays, casualty losses and other matters beyond our control; the effects of existing and future laws and governmental regulations; and the effects of existing or future litigation; as well as other factors disclosed in Quicksilver Resources' filings with the Securities and Exchange Commission.


Contact Information

  • INVESTOR RELATIONS:
    Quicksilver Resources Inc.
    Diane Weaver
    (817) 665-4834
    or
    MEDIA RELATIONS:
    Ward Creative Communications, Inc.
    Deborah Ward Buks or Shelley Eastland
    (713) 869-0707