Quicksilver Resources Announces Filing of Registration Statement by Quicksilver Production Partners
Quicksilver Resources Inc. (NYSE: KWK) announced today that Quicksilver Production Partners LP, a wholly-owned subsidiary of Quicksilver, has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission related to the proposed initial public offering of common units representing limited partner interests.
In connection with the initial public offering, Quicksilver will contribute certain of its Barnett Shale assets and related derivatives to QPP. QPP intends to use the net proceeds of the initial public offering and borrowings under a planned new bank credit facility (along with the issuance to Quicksilver of common and subordinated units) as consideration for the contribution by Quicksilver of such assets. Quicksilver intends to use the proceeds received from QPP to retire a portion of its debt.
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