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Quicksilver Resources Prices $600MM Debt Offering

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Quicksilver Resources has priced its offering of $600 million aggregate principal amount of Senior Notes due 2016. The notes will bear interest at the rate of 11.75% per annum and will be issued at a price equal to 96.717% of the principal amount thereof to yield 12.50%.

Quicksilver expects to close the sale of the notes on June 25, 2009, subject to the satisfaction of customary closing conditions.

Quicksilver intends to use the net proceeds from this offering, and the net proceeds from its previously announced sale of an interest in certain oil and gas leases, royalty interests, mineral interests and related assets to Eni US Operating Co. Inc. and Eni Petroleum US LLC, to repay the remaining indebtedness under its second lien term loan facility due 2013. This offering is conditioned upon the consummation of such sale, which is expected to occur on or about June 19, 2009.
 

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