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Quicksilver Resources Inc. Commences Tender Offers And Consent Solicitation For Its 7 1/8% Senior Subordinated Notes Due 2016, 11 3/4% Senior Notes Due 2016 And 8 1/4% Senior Notes Due 2015

FORT WORTH, Texas, May 23, 2013 (GLOBE NEWSWIRE) -- Quicksilver Resources Inc. (" Quicksilver") (NYSE:KWK) today announced the commencement of cash tender offers relating to any and all of its $350,000,000 current outstanding principal amount of 7 1/8% Senior Subordinated Notes due 2016 (the " 2016 Subordinated Notes"), its $590,620,000 current outstanding principal amount of 11 3/4% Senior Notes due 2016 (the " 2016 Senior Notes") and its $438,000,000 current outstanding principal amount of 8 1/4% Senior Notes due 2015 (the " 2015 Senior Notes", collectively with the 2016 Subordinated Notes and 2016 Senior Notes, the " Notes") and its solicitation of consents from the holders of the Notes to adopt certain amendments to the indentures governing the Notes.

Information related to the Notes and the tender offers is listed below:

Series of Notes CUSIP/ISIN Nos. Current Principal Amount Outstanding Offer Consideration (1) Early Tender Payment(1) Total Consideration (1) Early Tender Deadline Expiration Time
7 1/8% Senior Subordinated Notes due 2016 CUSIP: 74837RAC8 ISIN: US74837RAC88 $350,000,000 $985.63 $30.00 $1,015.63 5:00 P.M. Eastern Time, June 6, 2013 11:59 P.M. Eastern Time, June 20, 2013
11 3/4% Senior Notes due 2016 CUSIP: 74837RAF1 ISIN: US74837RAF10 $590,620,000 $1,038.00 $30.00 $1,068.00 5:00 P.M. Eastern Time, June 6, 2013 11:59 P.M. Eastern Time, June 20, 2013
8 1/4% Senior Notes due 2015 CUSIP: 74837RAE4 ISIN: US74837RAE45 $438,000,000 $997.90 $30.00 $1,027.90 5:00 P.M. Eastern Time, June 6, 2013 11:59 P.M. Eastern Time, June 20, 2013
1 For each $1,000 principal amount of Notes, excluding accrued but unpaid interest thereon, which interest will be paid in addition to the Offer Consideration or the Total Consideration (each as defined below), as applicable.

The tender offers are scheduled to expire at 11:59 P.M., Eastern Time, on June 20, 2013, unless extended or earlier terminated (such time and date, as the same may be extended, the " Expiration Time"). Holders who validly tender their Notes and deliver their consents by 5:00 P.M., Eastern Time, on June 6, 2013, unless extended or earlier terminated (the " Early Tender Deadline"), will receive $1,015.63, $1,068.00 and $1,027.90 per $1,000 principal amount of 2016 Subordinated Notes, 2016 Senior Notes and 2015 Senior Notes, respectively, (the " Total Consideration") if such Notes are accepted for purchase, which includes an early tender payment of $30.00 per $1,000 principal amount of Notes (the " Early Tender Payment"). Holders who validly tender their Notes and deliver their consents after the Early Tender Deadline but on or before the Expiration Time will receive $985.63, $1,038.00 and $997.90 per $1,000 principal amount of 2016 Subordinated Notes, 2016 Senior Notes and 2015 Senior Notes, respectively, (the " Offer Consideration") if such Notes are accepted for purchase. Holders whose tendered Notes are accepted for purchase will also receive accrued and unpaid interest from the most recent interest payment date for the Notes, to, but not including, the applicable payment date for the Notes in the tender offers. Holders who validly tender their Notes and deliver their consents and whose Notes are accepted for purchase will receive payment promptly after the Expiration Time.

The tender offers are subject to the satisfaction or waiver of certain conditions, including a financing condition, a consent condition and general conditions. If any conditions to the tender offers are not satisfied, Quicksilver is not obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any tendered Notes and may even terminate the tender offers. The consents are being solicited to eliminate substantially all of the restrictive covenants and certain events of default contained in the indentures governing the Notes. Holders may not tender their Notes without delivering consents or deliver consents without tendering their Notes. Quicksilver may waive any condition and amend, extend or terminate the tender offers in its sole discretion.

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