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March 15, 2013
17:40 EDTKWKQuicksilver Resources says restatement to increase FY12 net income by $133M
Quicksilver Resources disclosed in a regulatory filing that derivatives, previously recognized as hedges, needed statement to reflect the changes in fair value in earnings. The estimated aggregate impact to 2012 income (before income taxes was to improve that amount by $199M and to reduce the income tax benefit by $66M, which yield an overall increase to net income of $133M. None of these matters impact the previously reported totals for cash flows from operating activities, investing activities or financing activities. None of the matters impact compliance with the financial covenants associated with the company's senior secured credit facility. Effective December 31, 2012, the company discontinued the use of hedge accounting on all its derivatives.
News For KWK From The Last 14 Days
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November 10, 2014
07:23 EDTKWKQuicksilver Resources sees Q4 average daily production volume 238-242 MMcfe
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07:22 EDTKWKQuicksilver Resources to continue exploring avenues to address capital structure
In September, Quicksilver appointed John Little as Strategic Alternatives Officer pursuant to an engagement agreement between Quicksilver and Deloitte Transactions and Business Analytics LLP. Mr. Little reports to the Board and, in collaboration with Quicksilver's management team, assists Quicksilver in exploring, evaluating and implementing strategic and tactical initiatives. The company also retained Houlihan Lokey Capital, Inc. to lead a broad and more formalized process to market Quicksilver's assets. The company continues to explore several avenues to address its capital structure, including the stated and springing maturities. The company is in frequent discussions with certain of the security holders regarding possible paths to be undertaken.
07:21 EDTKWKQuicksilver Resources sees Q4 CapEx $22M-$27M
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07:21 EDTKWKQuicksilver Resources reports Q3 production 22.6 Bcfe
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07:20 EDTKWKQuicksilver Resources reports Q3 adjusted EPS (7c), consensus (8c)
Reports Q3 total revenue $163.5M, consensus $109.65M; Reports Q3 production revenue $105M.

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