SOURCE: Quicksilver Resources Inc.

Quicksilver Resources Inc.

June 22, 2010 11:45 ET

Quicksilver Resources Expands Operating Team

FORT WORTH, TX--(Marketwire - June 22, 2010) - Quicksilver Resources Inc. (NYSE: KWK) today announced the following changes to its operating management team:

Stan Page, 53, has been named Senior Vice President, U.S. Operations. Page joined Quicksilver in October 2007 as Vice President, U.S. Operations, primarily responsible for development of the company's Fort Worth Basin Barnett Shale operations in north Texas. In his new role, Page will be responsible for all U.S. operations including the company's expanding activities in the Greater Green River Basin of northern Colorado and Wyoming and the Alberta Bakken Basin in western Montana. 

Joe Farley, 50, has been named Vice President, Rocky Mountain and New Ventures Operations. In this newly created role, Farley will be responsible for exploration, development and exploitation of the company's growing opportunities in the Greater Green River and Alberta Bakken basins. Farley, who joined Quicksilver in 1996, previously served as Senior Vice President and Chief Operating Officer of Quicksilver Resources Canada Inc. and will relocate to the company's Fort Worth headquarters this fall. 

Dave Rushford, 50, will join Quicksilver in August as Senior Vice President and Chief Operating Officer of Quicksilver Resources Canada Inc. Rushford comes to Quicksilver with more than 25 years of proven expertise in upstream oil and gas operations with Pan-Canadian, EnCana and most recently as Vice President - Business Services for Cenovus Energy Inc. Rushford will be located in the company's Calgary headquarters for Canadian operations.

"We believe that these management changes will enable Quicksilver to more efficiently explore, develop and exploit our growing portfolio of unconventional resource plays in the U.S. and Canada, while preserving our low-cost structure," said Glenn Darden, President and Chief Executive Officer of Quicksilver Resources. "The company has a solid base of development and exploitation projects in the Fort Worth Basin and the coals of Horseshoe Canyon in Alberta, Canada. It is management's belief that these two existing producing areas can provide double-digit production growth for the company for the next several years and ultimately more than double our existing proven reserves of 2.5 trillion cubic feet of natural gas equivalents (Tcfe)."

"Through the successful efforts of our new ventures and operating groups, the company has also amassed very meaningful acreage positions in developing plays including the Horn River Basin of northeast British Columbia, the Greater Green River Basin and the Alberta Bakken Basin. Management further believes that these new areas offer the potential to expand the company's total resource potential to greater than 15 Tcfe."

About Quicksilver Resources

Fort Worth, Texas-based Quicksilver Resources is a natural gas and crude oil exploration and production company engaged in the development and acquisition of long-lived, unconventional natural gas reserves, including coalbed methane, shale gas, and tight sands gas in North America. The company has U.S. offices in Fort Worth, Texas; Glen Rose, Texas and Cut Bank, Montana. Quicksilver's Canadian subsidiary, Quicksilver Resources Canada Inc., is headquartered in Calgary, Alberta. For more information about Quicksilver Resources, visit www.qrinc.com.

Forward-Looking Statements
The statements in this news 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, natural gas liquids and crude oil prices; failure or delays in achieving expected production from exploration and development projects; uncertainties inherent in estimates of natural gas, natural gas liquids and crude oil reserves and predicting natural gas, natural gas liquids and crude oil reservoir performance; effects of hedging natural gas, natural gas liquids and crude oil prices; fluctuations in the value of certain of our assets and liabilities; competitive conditions in our industry; actions taken or non-performance by third parties, including suppliers, contractors, operators, processors, transporters, customers and counterparties; changes in the availability and cost of capital; delays in obtaining oilfield equipment and increases in drilling and other service costs; 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, including environmental and climate change requirements; and the effects of existing or future litigation; as well as, other factors disclosed in Quicksilver Resources' filings with the Securities and Exchange Commission. The forward-looking statements included in this news release are made only as of the date of this news release, and we undertake no obligation to update any of these forward-looking statements to reflect subsequent events or circumstances except to the extent required by applicable law.

KWK 10-09

Contact Information

  • Investor & Media Contact:
    Rick Buterbaugh
    (817) 665-4835