Glenn M. DardenThank you, John. Good morning. Quicksilver Resources reported net income for the third quarter of 2011 of $29 million or $0.17 per diluted share compared to net income of $22 million or $0.13 per diluted share in the prior period. Third quarter 2011 adjusted net income was $6 million or $0.03 per diluted share. Financial results for the current quarter were impacted by noncash gain of $30 million related to mark-to-market impact of long-term derivatives, a noncash gain of $12 million associated with the company's equity interest in BreitBurn Energy Partners' second quarter 2011 derivative adjustments, a gain of $10 million from the sale of BreitBurn units and a loss of $15 million for the acceleration of unamortized debt insurance costs, professional services in connection with strategic transactions, and to settle pending claims associated with the previously disclosed legal litigation. We've made progress on several fronts on the operational and transaction projects, and our investments are beginning to bear fruit.
Quicksilver Resources' CEO Discusses Q3 2011 Results - Earnings Call Transcript
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