Quicksilver Resources Inc. "Strategic Transactions Update" $KWK

In September 2014, Quicksilver appointed John Little as Strategic Alternatives Officer pursuant to an engagement agreement between Quicksilver and Deloitte Transactions and Business Analytics LLP. Mr. Little reports to the Board and, in collaboration with Quicksilver's management team, assists Quicksilver in exploring, evaluating and implementing strategic and tactical initiatives including the company's Combined Credit Agreements' semi-annual redetermination, other matters involving the company's capital structure including the maturity of the Senior Subordinated Notes due 2016, the marketing of Quicksilver's assets and maximizing of liquidity in the present environment.

The company also retained Houlihan Lokey Capital, Inc. to lead a broad and more formalized process to market Quicksilver's assets. This process covers any or all of the company's operating assets and is flexible with regard to structure of any transaction proposal. The marketing process calls for receipt of bids in the fourth-quarter 2014, with a targeted closing date on any transaction in the ordinary course following successful execution of sales agreements, which aligns with the company's other strategic activities.

The company continues to explore several avenues to address its capital structure, including the stated and springing maturities. The company is in frequent discussions with certain of the security holders regarding possible paths to be undertaken.

Speaking of its capital structure, the 2016 notes are now trading at 20 and yielding 175% to maturity in April 2016!