27 Jan 2009director interest notice● Neutral
QUICKSILVER RESOURCES INC Sr. VP - CFO Cook Philip W. had 5,643 shares withheld for taxes on vesting stock.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
16 Jan 2009substantial holder notice● Neutral
SPO Partners II, L.P, SPO Advisory Partners, L.P, San Francisco Partners, L.P, SF Advisory Partners, L.P, SPO Advisory Corp, John H. Scully, William E. Oberndorf, William J. Patterson, Edward H. McDermott, The Elizabeth R. & William J. Patterson Foundation disclosed a new substantial QUICKSILVER RESOURCES INC shareholding (5.60% of votes).
12 Jan 2009substantial 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 45,077,944 shares (27.00% of votes) in a periodic institutional filing.
6 Jan 2009director interest notice● Neutral
QUICKSILVER RESOURCES INC Vice President - HR Anne Darden Self received 25,936 shares and a 44,248-share option grant as part of the equity award.
6 Jan 2009director interest notice● Neutral
QUICKSILVER RESOURCES INC VP-Controller & CAO Regan John C received 25,936 shares and a 44,248-share option grant as part of the equity award.
6 Jan 2009director interest notice● Neutral
QUICKSILVER RESOURCES INC director James Alton Hughes received 7,971 shares and a 14,748-share option grant as part of the equity award.
6 Jan 2009director interest notice● Neutral
QUICKSILVER RESOURCES INC VP-RESERVOIR ENGINEERING Robert N Wagner received 60,518 shares and a 103,245-share option grant as part of the equity award.
6 Jan 2009director interest notice● Neutral
QUICKSILVER RESOURCES INC President & CEO Glenn Darden received 201,007 shares and a 342,920-share option grant as part of the equity award.
6 Jan 2009director interest notice● Neutral
QUICKSILVER RESOURCES INC director W Yandell III Rogers received 7,971 shares and a 14,748-share option grant as part of the equity award.
5 Jan 2009director interest notice● Neutral
QUICKSILVER RESOURCES INC Sr. VP - CFO Cook Philip W. had 3,483 shares withheld for taxes on vesting stock.
5 Jan 2009director interest notice● Neutral
QUICKSILVER RESOURCES INC Sr. VP-Gen.Counsel & Sec. John C Cirone had 3,048 shares withheld for taxes on vesting stock.
5 Jan 2009director interest notice● Neutral
QUICKSILVER RESOURCES INC Executive VP - Operations Cook Paul J. had 3,701 shares withheld for taxes on vesting stock.
12 Dec 2008director interest notice● Neutral
QUICKSILVER RESOURCES INC Vice President - HR Anne Darden Self gifted 34,608 shares.
12 Dec 2008director interest notice● Neutral
QUICKSILVER RESOURCES INC President & CEO Glenn Darden gifted 35,340 shares.
8 Dec 2008production update▼ BadMajor
Quicksilver sold its Lake Arlington gas-gathering system to its own midstream affiliate, Quicksilver Gas Services, and used the $42 million to pay down part of the second-lien term loan taken on for the Barnett Shale deal just four months earlier -- an early sign it needed to shed assets to manage the new debt load as gas prices fell.
8 Dec 2008director interest notice● Neutral
QUICKSILVER RESOURCES INC director W Yandell III Rogers sold 30,000 shares at $6.35.
8 Dec 2008director interest notice● Neutral
QUICKSILVER RESOURCES INC director W Yandell III Rogers received 1,600 shares as part of the equity award.
28 Oct 2008director interest notice● Neutral
QUICKSILVER RESOURCES INC Executive VP - Operations Cook Paul J. received 12,443 shares as part of the equity award.
24 Oct 2008director interest notice● Neutral
QUICKSILVER RESOURCES INC director Steven M Morris sold 100,000 shares.
16 Oct 2008director interest notice● Neutral
QUICKSILVER RESOURCES INC director Steven M Morris sold 171,700 shares.
15 Oct 2008director interest notice● Neutral
QUICKSILVER RESOURCES INC 10%+ owner Quicksilver Energy LP disposed of 3,985,520 shares via option/appreciation-right settlement.
14 Oct 2008director interest notice● Neutral
QUICKSILVER RESOURCES INC director Steven M Morris sold 375,264 shares.
26 Sept 2008director interest notice● Neutral
QUICKSILVER RESOURCES INC Sr. VP - CFO Cook Philip W. sold 10,000 shares at $23.81.
8 Sept 2008director interest notice● Neutral
QUICKSILVER RESOURCES INC VP - Controller and CAO Regan John C had 882 shares withheld for taxes on vesting stock.
8 Aug 2008securities registration● Neutral
QUICKSILVER RESOURCES INC filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
8 Aug 2008asset acquisition disposition● NeutralMajor
Quicksilver closed the roughly $1.3 billion Barnett Shale royalty and working-interest acquisition from the Petrus/Perot and Hillwood/Chief Resources groups, funding it with the new $700 million second-lien term loan (secured by nearly all its oil and gas assets) plus a $326 million revolver draw -- fully deploying the debt capacity added a week earlier, just months before gas prices began falling.
5 Aug 2008material agreement● NeutralMajor
To fund the pending Barnett Shale acquisition, Quicksilver's lenders let it add a $700 million second-lien term loan secured by nearly all its oil and gas assets, raised the revolver's interest rate, and imposed new covenants tying secured and total debt to the PV-10 value of its reserves -- the reserve-value-linked covenants that would become critical once gas prices crashed.
10 July 2008debt financing▼ Bad
Quicksilver's newly issued 2015 notes had their coupon stepped up from 7.75% to 8.25% -- a real added interest cost layered on top of the debt just taken on for the Barnett Shale acquisition.
7 July 2008capital raising announcement● NeutralMajor
Quicksilver agreed to buy Barnett Shale royalty and working interests from Perot-family entities (Petrus/Nortex/Perot Investment Partners) and the Hillwood/Chief Resources group for roughly $1.3 billion cash plus $307 million in stock -- a major debt-funded expansion made right at the top of the natural gas market, months before prices collapsed.
30 June 2008debt financing● Neutral
The indenture behind Quicksilver's new 2015 notes set standard default triggers -- 30 days of unpaid interest, a 60-day uncured covenant breach, or default on $15 million-plus of other debt -- terms that would later matter once Quicksilver struggled to make payments.