SOURCE: Quicksilver Resources Inc.

July 01, 2008 08:30 ET

Quicksilver Resources Notice of Convertibility of Debentures

FORT WORTH, TX--(Marketwire - July 1, 2008) - Quicksilver Resources Inc. (NYSE: KWK) today announced that, due to the satisfaction of the market price condition to conversion, the company's 1.875% Convertible Subordinated Debentures due 2024 (the "Debentures") are convertible during the fiscal quarter ending September 30, 2008. Pursuant to the terms of the indenture under which the Debentures were issued, the Debentures are currently convertible at a rate of 65.4418 shares of common stock of Quicksilver Resources per $1,000 principal amount of the Debentures (such conversion rate having been adjusted to account for a 3-for-2 stock split and a 2-for-1 stock split, both of which were effected in the form of stock dividends on June 30, 2005 and January 31, 2008, respectively). These shares are included in the company's fully diluted earnings per share calculation.

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.

KWK 08-14

Contact Information

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