QUICKSILVER RESOURCES ANNOUNCES WINNING BID FOR SALE OF CERTAIN U.S. ASSETS
FORT WORTH, TEXAS (January 23, 2016) /PRNewswire/ -- Quicksilver Resources Inc. (OTC Pink: KWKAQ) and its U.S. subsidiaries announced today that they have successfully completed a Bankruptcy Court-approved auction for their U.S. oil and gas assets located primarily in the Barnett Shale in the Fort Worth basin of North Texas as well as assets in the Delaware basin in West Texas, which are concentrated in Pecos County, Texas and to a lesser extent Crockett and Upton Counties, Texas. The completion of the auction follows a months-long marketing process of all of Quicksilver's and its U.S. subsidiaries' U.S. assets that began in September 2015. At the auction, which was held on January 20 and 21, 2016, Quicksilver and its U.S. subsidiaries declared an all-cash bid from BlueStone Natural Resources II, LLC in the amount of $245 million the highest or otherwise best bid for the oil and gas assets, and the successful bid... [Continue Reading]
QUICKSILVER RESOURCES ANNOUNCES COMMENCEMENT OF MARKETING AND SALE PROCESS
Quicksilver Commences Sale Processes in U.S. and Canada; Operations to Continue in the Normal Course of Business
FORT WORTH, TEXAS (September 17, 2015) – Quicksilver Resources Inc. (OTC Pink: KWKAQ) today announced the commencement of a marketing and sale process to sell substantially all or a portion of its U.S. and Canadian assets. The U.S. process was initiated with the filing of a motion with the United States Bankruptcy Court for the District of Delaware seeking approval of bidding procedures to commence a sales process for Quicksilver and its U.S. subsidiaries under section 363 of the Bankruptcy Code. The motion to approve bidding procedures is expected to be heard by the Court on October 6, 2015. The Canadian process will run parallel to, but separate from, the U.S. process... [Continue Reading]
QUICKSILVER RESOURCES RECEIVES APPROVAL OF ALL “FIRST DAY MOTIONS”
Court Authorizes Continued Payment of Employee Wages and Benefits; Operations to Continue in the Normal Course of Business
FORT WORTH, TEXAS (March 20, 2015) – Quicksilver Resources Inc. (OTC Pink: KWKAQ) announced today the approval by the United States Bankruptcy Court for the District of Delaware (the “Court”) of all of the Company’s “first day” motions.
“The Court’s approval is a positive step forward in our efforts to address current financial challenges and to position Quicksilver as a strong competitor in the oil and gas industry,” said Glenn Darden, Quicksilver’s Chief Executive Officer. “Today’s results will give our employees, suppliers, royalty and working interest owners confidence that our operations will continue without interruption.”...
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QUICKSILVER RESOURCES FILES VOLUNTARY CHAPTER 11 PETITIONS TO
FACILITATE FINANCIAL RESTRUCTURING
Quicksilver’s Canadian Operations Not Included in Filing;
Operations to Continue Without Interruption
FORT WORTH, TEXAS (March 17, 2015) – Quicksilver Resources Inc. (OTCQB: KWKA) announced today that the Company and its U.S. subsidiaries Barnett
Shale Operating LLC, Cowtown Drilling, Inc., Cowtown Gas Processing L.P., Cowtown Pipeline Funding, Inc., Cowtown Pipeline L.P., Cowtown Pipeline Management,
Inc., Makarios Resources International Holdings LLC, Makarios Resources International Inc., QPP Holdings LLC, QPP Parent LLC, Quicksilver Production Partners
GP LLC, Quicksilver Production Partners LP, and Silver Stream Pipeline Company LLC each filed a voluntary petition under chapter 11 of title 11 of the United
States Code in the United States Bankruptcy Court for the District of Delaware (the “Court”)...
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