SOURCE: Quicksilver Resources Inc.

June 24, 2008 16:00 ET

Quicksilver Resources Announces Pricing of $475 Million Debt Offering

FORT WORTH, TX--(Marketwire - June 24, 2008) - Quicksilver Resources Inc. (NYSE: KWK) announced today that it has priced its offering of $475 million aggregate principal amount of Senior Notes due 2015. The notes will bear interest at the rate of 7.75% per annum and will be issued at a price equal to 98.655% of the principal amount thereof to yield 8.00%. Quicksilver expects to close the sale of the notes on June 27, 2008, subject to the satisfaction of customary closing conditions. Quicksilver intends to use the net proceeds from the offering to repay a portion of its existing borrowings under its senior credit facility.

Credit Suisse and Banc of America Securities LLC are acting as joint book-running managers. Copies of the prospectus supplement relating to the offering may be obtained from the offices of Credit Suisse Securities (USA) LLC, Prospectus Department, One Madison Avenue, New York, NY 10010, or from Banc of America Securities LLC, Capital Markets Operations, 100 West 33rd Street, 3rd Floor, New York, NY 10001. Copies of the prospectus supplement relating to the offering may also be obtained via phone from Credit Suisse Securities at 1-800-221-1037 or via e-mail from Banc of America Securities at dg.prospectus_distribution@bofasecurities.com. An electronic copy of the prospectus supplement will be available on the website of the Securities and Exchange Commission at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

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 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. Actual activities could differ materially from those contained in this release because of a variety of factors disclosed in Quicksilver Resources' filings with the Securities and Exchange Commission. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

KWK 08-13

Contact Information

  • Investor & Media Contact:
    Quicksilver Resources Inc.
    Rick Buterbaugh
    (817) 665-4835