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KWK > SEC Filings for KWK > Form 8-K on 4-Jun-2013All Recent SEC Filings

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Form 8-K for QUICKSILVER RESOURCES INC


4-Jun-2013

Regulation FD Disclosure


Item 7.01. Regulation FD Disclosure.
Senior Notes Offering
On June 3, 2013, Quicksilver Resources Inc. (the "Company") issued a press release announcing the offering of approximately $675 million in aggregate principal amount of senior notes due 2021 through a private placement. This press release is filed as Exhibit 99.1 hereto and is incorporated herein by reference.
On June 3, 2013, the Company issued a separate press release announcing the offering of approximately $200 million in aggregate principal amount of senior second priority notes due 2019 through a private placement. This press release is filed as Exhibit 99.2 hereto and is incorporated herein by reference. The senior notes and the senior second priority notes (collectively, the "notes") have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act of 1933, as amended. This Current Report on Form 8-K does not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
The Company is furnishing the information in this Item 7.01, including Exhibits 99.1 and 99.2, to comply with Regulation FD. Such information shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any of the Company's filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date hereof and regardless of any general incorporation language in such filings, except to the extent expressly set forth by specific reference in such a filing.
Item 8.01. Other Events
Komie North Project
Quicksilver Resources Canada Inc. ("QRCI"), a subsidiary of the Company, has been informed by NOVA Gas Transmission Ltd., ("NGTL") that, in light of the Canadian Governor in Council's failure to approve NGTL's construction of a 75-mile pipeline that would connect NGTL's Alberta system to a meter station to be constructed on QRCI's acreage in the Horn River Basin in British Columbia (the "Komie North Project"), NGTL intends to terminate the Project and Expenditure Authorization, dated as of April 6, 2011, between QRCI and NGTL, as amended (the "PEA"), which authorizes NGTL to construct the Komie North Project and the related meter station.
The PEA requires QRCI to construct a treatment facility and provide financial guarantees to cover NGTL's costs for the Komie North Project. QRCI has provided $14 million in letters of


credit to support this obligation. NGTL has indicated that it would terminate the PEA and release the letters of credit pursuant to a letter addressing costs and providing that the only payment by QRCI to NGTL in connection with the termination would be an amount equal to actual costs incurred or paid by NGTL, or for which NGTL is liable, as of the termination date, which amount is expected to be approximately $14 million, subject to the refund of certain amounts if previously purchased equipment is repurposed for other NGTL projects. Upon termination of the PEA as described above, the Commitment Letter, dated as of April 6, 2011, between QRCI and NGTL, as amended, pursuant to which QRCI agreed to deliver gas to the Komie North Project from its properties in Horn River Basin, will also terminate in accordance with its terms.
QRCI maintains its ability to sell gas at the Station 2 and AECO hubs, as its current production is served by existing treating facilities and pipelines. Reserves Information
In addition, the Company is disclosing under Item 8.01 of this Current Report on Form 8?K the reserves information attached to this report as Exhibit 99.3, which information is incorporated by reference herein. Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.

Exhibit Number Description
99.1           Press release dated June 3, 2013, titled "Quicksilver Launches $675
               Million Offering of Senior Notes"
99.2           Press release dated June 3, 2013, titled "Quicksilver Launches $200
               Million Offering of Senior Second Priority Notes"
99.3           Quicksilver Resources Inc. Reserves Information


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