Company Fact Sheet
We are a Fort Worth, Texas-based independent oil and gas company engaged in the development and production of natural gas, natural gas liquids (NGLs) and crude oil, which we attain through a combination of exploratory and development drilling, exploitation and property acquisitions. Our efforts are principally focused on unconventional reservoirs found in fractured shales and coal seams. We have U.S. offices in Fort Worth, Texas and Glen Rose, Texas. We also have a Canadian subsidiary, Quicksilver Resources Canada Inc., located in Calgary, Alberta. Quicksilver Resources Inc. common shares are traded on the New York Stock Exchange under the ticker symbol "KWK".
- Public company since 1999 and its predecessor operated as a private company since 1963.
- Our proved reserves at year-end 2013 were 1.3 trillion cubic feet equivalents (Tcfe) with 88% classified as proved developed. Reserves were based on SEC price of $3.67 /MMbtu.
- As of year-end 2013, our reserve mix was 82% natural gas, and 18% natural gas liquids.
- Our average daily production for the year 2013 was approximately 296 million cubic feet of natural gas equivalents per day (MMcfe/d), or 276 MMcfe/d on pro forma basis for asset sales, compared to 360 MMcfe/d for 2012, or 288 MMcfe/d on a pro forma basis.
- As of February 2014, we had approximately 338 employees in North America.
We focus on development of unconventional reservoirs. Our primary producing areas are the Barnett Shale in the Fort Worth Basin, the Horn River Basin in northeast British Columbia, and the coalbeds of the Horseshoe Canyon in Alberta. In the Barnett, we have approximately 135,000 gross acres, or 85,000 net acres (after Tokyo Gas working interest sale). Average production was 169 MMcfe per day from the Barnett Shale in 2013 on a pro forma basis. Proved reserves in the Horn River Basin are approximately 70 Bcf as of year-end 2013. We have 130,000 net acres in this play, of which virtually all is leased under a 10-year term. Average production was 57 MMcfed in 2013 from the Horn River. We acquired a site in early 2013 in British Columbia which we believe is an ideal location for an LNG export facility. We are also working to complete a transaction with one or more potential parties for our integrated Horn River project. Proved reserves in Horseshoe Canyon are approximately 196 Bcfe as of year-end 2013. We have 353,000 net acres in this play. Average production was 50 MMCfed in 2013 from Horseshoe Canyon.
We have oil exposure in our west Texas acreage located in the Delaware and Midland basins. We hold 124,000 gross acres in West Texas, which we believe is prospective for oil from the Wolfcamp and Bone Springs shales. In November 2013, we announced two separate joint venture agreements in our west Texas asset, the largest of which is with ENI covering 52,500 gross acres in Pecos County, and an agreement with an undisclosed party for 7,500 gross acres also in Pecos County. We expect to be carried on up to 4 wells in 2014.
|801 Cherry Street
Suite 3700, Unit 19
Fort Worth, TX 76102
Phone: (817) 665-5000
Fax: (817) 665-5004
Web site: www.qrinc.com
Director - Investor Relations
Phone: (817) 665-4023
|QUICKSILVER RESOURCES CANADA INC|
2000, 125-9th Ave. S.E.
Calgary, Alberta T2G OP8
Phone: (403) 537-2455
Fax: (403) 262-6115