Past year: ▼ 95%(14.6c – 3.27 USD)
Each one in plain English, with the numbers worked through for a shareholder.
29 Mar 2013material agreement▼ BadMajor
Quicksilver agreed to sell 25% of its core Fort Worth Basin (Barnett Shale) assets to Tokyo Gas subsidiary TG Barnett Resources for $485 million cash -- monetizing a slice of its flagship asset to raise cash as its credit and accounting problems mounted.
22 Mar 2013listing compliance notice▼ BadMajor
For the second year running, the NYSE flagged Quicksilver for missing its 10-K deadline -- this time for 2012 -- though the same filing disclosed the 10-K had in fact just been filed.
15 Mar 2013financial restatement▼ BadMajor
Quicksilver said it would restate its first three 2012 quarters after finding 15 of its 2012 hedges lacked the documentation required for hedge accounting, forcing large swings into earnings -- roughly $255 million, $208 million and $4 million of added impairment in Q1-Q3 respectively -- on top of preliminary Q4/full-year 2012 results already flagged as incomplete. A serious, recurring accounting-controls failure, not a one-off correction.
8 Mar 2013security holder rights change● NeutralMajor
Quicksilver cut its poison pill's trigger price from $180 to $10 a share, extended it to 2016, and widened the ownership carve-out for the Darden family and related entities (Quicksilver Energy, Mercury Exploration, the Discovery Fund) up to their current combined stake -- a lower-cost, longer-lived takeover defense shaped around insiders' existing large holdings.
4 Mar 2013late filing notice▼ Bad
QUICKSILVER RESOURCES INC notified the SEC that its annual report would be filed late.
25 Feb 2013quarterly activities report▼ Bad
QUICKSILVER RESOURCES INC reported quarterly revenue of $118.7 million and a net loss of $59.7 million for the period ended 2013-03-31.
14 Feb 2013substantial holder notice● Neutral
Southeastern Asset Management, Inc. I.D. No, Longleaf Partners Small-Cap Fund I.D. No, O. Mason Hawkins I.D. No. XXX-XX-XXXX reported a QUICKSILVER RESOURCES INC shareholding of 24,845,000 shares (14.40% of votes) in a periodic institutional filing.
11 Feb 2013substantial holder notice● Neutral
BlackRock, Inc reported a QUICKSILVER RESOURCES INC shareholding of 9,014,244 shares (5.21% of votes) in a periodic institutional filing.
8 Nov 2012quarterly activities report▼ Bad
QUICKSILVER RESOURCES INC reported quarterly revenue of $224.0 million and a net loss of $548.5 million for the period ended 2012-12-31.
6 Nov 2012quarterly activities report▼ Bad
QUICKSILVER RESOURCES INC reported quarterly revenue of $224.0 million and a net loss of $548.5 million for the period ended 2012-12-31.
24 Sept 2012material agreement● NeutralMajor
Quicksilver formed a 50/50 joint venture with Shell subsidiary SWEPI to jointly develop over 850,000 acres in Colorado's Sand Wash Basin -- a new growth area -- while also announcing reduced letter-of-credit obligations to NOVA Gas Transmission on the Horn River pipeline project.
17 Sept 2012substantial holder notice● Neutral
Quicksilver Energy, L.P, Pennsylvania Management, LLC, Glenn Darden, Thomas F. Darden, Anne Darden Self reported a QUICKSILVER RESOURCES INC shareholding of 39,843,621 shares (23.00% of votes) in a periodic institutional filing.
10 Sept 2012substantial holder notice● Neutral
BlackRock, Inc reported a QUICKSILVER RESOURCES INC shareholding of 12,455,065 shares (7.20% of votes) in a periodic institutional filing.
10 Sept 2012debt financing▼ BadMajor
Quicksilver pushed back the target in-service date for its Horn River pipeline with NOVA Gas Transmission by more than a year, from May 2014 to August 2015, and restructured the schedule of letters of credit backing the project (rising to C$296.8 million by September 2014) -- a sign the Horn River build-out was slowing as gas prices stayed weak.
17 Aug 2012auditor change▼ BadMajor
Quicksilver's audit committee declined to reappoint Deloitte & Touche as its auditor and hired Ernst & Young instead, after material weaknesses in its financial reporting controls were disclosed in its 2011 10-K and first two 2012 10-Qs -- confirming the accounting problems behind the earlier late filing.
9 Aug 2012quarterly activities report▼ Bad
QUICKSILVER RESOURCES INC reported quarterly revenue of $118.2 million and a net loss of $790.5 million for the period ended 2012-09-30.
7 Aug 2012quarterly activities report▼ Bad
QUICKSILVER RESOURCES INC reported quarterly revenue of $118.2 million and a net loss of $790.5 million for the period ended 2012-09-30.
22 May 2012agm notice● Neutral
QUICKSILVER RESOURCES INC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
10 May 2012quarterly activities report▼ Bad
QUICKSILVER RESOURCES INC reported quarterly revenue of $194.0 million and a net loss of $802.0 million for the period ended 2012-06-30.
8 May 2012quarterly activities report▼ Bad
QUICKSILVER RESOURCES INC reported quarterly revenue of $194.0 million and a net loss of $802.0 million for the period ended 2012-06-30.
16 Apr 2012quarterly activities report▼ Bad
QUICKSILVER RESOURCES INC reported quarterly revenue of $172.9 million and a net loss of $211.6 million for the period ended 2012-03-31.
20 Mar 2012listing compliance notice▼ BadMajor
The NYSE notified Quicksilver it had missed the deadline to file its 2011 annual report and was now under the exchange's late-filer procedures; Quicksilver said it expected to file within about a month, and its shares stayed listed -- the first real sign of the accounting problems that would soon cost it its auditor.
29 Feb 2012late filing notice▼ Bad
QUICKSILVER RESOURCES INC notified the SEC that its annual report would be filed late.
27 Feb 2012quarterly activities report▼ Bad
QUICKSILVER RESOURCES INC reported quarterly revenue of $172.9 million and a net loss of $211.6 million for the period ended 2012-03-31.
9 Feb 2012substantial holder notice● Neutral
BlackRock, Inc reported a QUICKSILVER RESOURCES INC shareholding of 17,203,450 shares (9.92% of votes) in a periodic institutional filing.
7 Feb 2012substantial holder notice● Neutral
Southeastern Asset Management, Inc. I.D. No, Longleaf Partners Small-Cap Fund I.D. No, O. Mason Hawkins I.D. No. XXX-XX-XXXX reported a QUICKSILVER RESOURCES INC shareholding of 17,560,000 shares (10.30% of votes) in a periodic institutional filing.
27 Dec 2011debt financing● NeutralMajor
Days after signing its new credit agreements, Quicksilver amended and restated them again, raising the combined global borrowing base to $1.075 billion ($775 million U.S. plus $300 million Canadian) -- still redetermined every six months against reserve values, the mechanism that would matter most once commodity prices stayed down.
27 Dec 2011debt financing● NeutralMajor
Quicksilver formed a 50/50 midstream joint venture with private equity firm KKR (the Fortune Creek Partnership) to build gas-gathering infrastructure for its Horn River Basin production, receiving $125 million cash but guaranteeing at least $100 million a year of Horn River drilling spending through 2014 -- a real forward funding commitment layered on top of its existing debt.
10 Nov 2011substantial holder notice● Neutral
Southeastern Asset Management, Inc. I.D. No, Longleaf Partners Small-Cap Fund I.D. No, O. Mason Hawkins I.D. No. XXX-XX-XXXX disclosed a new substantial QUICKSILVER RESOURCES INC shareholding (10.30% of votes).
9 Nov 2011quarterly activities report● Neutral
QUICKSILVER RESOURCES INC reported quarterly revenue of $223.1 million and net income of $23.5 million for the period ended 2011-12-31.
