Company Fact Sheet
As of December 2012
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; Cut Bank, Montana; Steamboat Springs, Colorado; Craig, Colorado 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".
- NYSE: KWK - Public company since 1999 and its predecessor has operated as a private company since 1963.
- Our proved reserves at year-end 2012 were 1.5 trillion cubic feet equivalents (Tcfe) with 88% classified as proved developed. Reserves were based on SEC price of $2.76 /MMbtu.
- As of year-end 2012, our reserve mix was 76% natural gas, 23% natural gas liquids and 1% oil.
- Our average daily production for the year 2012 was approximately 360 million cubic feet of natural gas equivalents per day (MMcfe/d) compared to 413 MMcfe/d for 2011.
- As of December 2012, we had approximately 450 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. We have approximately 130,000 net acres, of which 60% is held by production. Average production was 275 MMcfe per day from the Barnett Shale. Proved reserves in the Horn River Basin are approximately 105 Bcfe as of year-end 2012. We have 130,000 net acres in this play, of which virtually all is leased under a 10-year term. Average production was 27 Bcfe in 2012 from the Horn River. Proved reserves in Horseshoe Canyon are approximately 162 Bcfe as of year-end 2012. We have 315,000 net acres in this play, of which approximately 90% is held by production. Average production was 55 Bcfe in 2012 from Horseshoe Canyon.
In addition to the Horn River, our growth areas are located in the Sand Wash Basin in northwest Colorado and the Delaware and Midland basins of West Texas. We hold 167,000 net acres in the Sandwash Basin which we believe is prospective for oil from the Niobrara formations. We hold 126,000 net acres in West Texas, of which we believe 105,000 is prospective for oil from the Wolfcamp and Bone Springs shales. We also hold 170,000 in the southern Alberta Basin in northwest Montana as a longer-term investment option.
|801 Cherry Street
Suite 3700, Unit 19
Fort Worth, TX 76102
Phone: (817) 665-5000
Fax: (817) 665-5004
Web site: www.qrinc.com
Manager - Finance
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