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Quicksilver Resources Reports Preliminary 2012 Fourth-Quarter And Full-Year Results

Current strip prices for 2013 natural gas are approximately $0.72 per MMbtu higher than the 2012 SEC price.

2012 Preliminary Reserves

  Natural Gas (Bcf) Natural Gas Liquids (MBbl) Oil and Condensate (MBbl) Total (Bcfe)
Proved Reserves, December 31, 2011  2,160  102,156  3,035  2,791
Revisions  (944)  (45,378)  (479)  (1,219)
Extensions, Discoveries, and Other Additions  26  3,518  345  49
Production  (106)  (4,070)  (287)  (132)
Acquisitions & Dispositions, net  (21)  (42)  (85)  (22)
Proved Reserves, December 31, 2012  1,115  56,184  2,529  1,467
Reserve pricing (first of month trailing 12-month average)  2.76    94.71  
         
Developed        
Barnett Shale  724  47,117  76  1,007
Sand Wash  —  —  85  1
West Texas  —  —  83  —
Other U.S.  1  167  2,172  15
Total U.S.  725  47,284  2,416  1,023
Horn River  105  —  —  105
Horseshoe Canyon  162  10  —  162
Total Canada  267  10  —  267
Total Quicksilver  992  47,294  2,416  1,290
         
Undeveloped        
Barnett Shale  123  8,890  113  177
Total Quicksilver  123  8,890  113  177
Total Proved  1,115  56,184  2,529  1,467

Conference Call

The company will host a conference call to discuss preliminary fourth-quarter operating and financial results at 10:00 a.m. central time today.

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