2008-08-30-2008-07-07-2008-08-08

Acquired 13,000 net acres in TX Barnett shale, gaining 350 Bcfe proved, 45 MMcfg/d.

Quicksilver Resources Inc., Fort Worth, Texas, (NYSE: KWK) has closed its acquisition of producing, leasehold, royalty and midstream assets in the Barnett shale in North Texas from privately held, Texas-based Chief Resources LLC, Hillwood Oil & Gas LP and Collins and Young LLC and other vendors for $1 billion in cash and approximately $270 million in stock for a total deal valued of some $1.27 billion. The deal is valued at $3.73 per thousand cubic feet of proved reserves, $29,044 per thousand cubic feet per day flowing, and $100,539 per acre, according to Merrill Lynch Petrie Divestiture Advisors managing director Sylvia Barnes. The assets include 13,000 net acres in Tarrant and Denton counties. Net production is 50 million cubic feet of gas per day. Proved reserves are 350 billion cubic feet (40% proved developed) and proved and probable reserves of 1 trillion cubic feet. Quicksilver funded the cash portion of the deal with a $700-million 30-month second-lien term loan facility and its credit facility. Merrill Lynch was advisor to the sellers.