FORT WORTH, Texas, May 23, 2013 (GLOBE NEWSWIRE) -- Quicksilver Resources Inc. (" Quicksilver") (NYSE:KWK) today announced the commencement of a solicitation (the " Solicitation") of consents (the " Consents") upon the terms and subject to the conditions set forth in a Consent Solicitation Statement (as it may be amended or supplemented from time to time, the " Statement") and the accompanying Form of Consent (the " Consent Form"), each dated as of May 23, 2013, to certain proposed amendments (the " Proposed Amendments") to the indenture, dated as of December 22, 2005, among Quicksilver, the subsidiary guarantors party thereto (the " Guarantors") and The Bank of New York Mellon Trust Company, N.A. (as successor in interest to JPMorgan Chase Bank, National Association), as trustee (the " Trustee"), as supplemented by an Eighth Supplemental Indenture dated as of August 14, 2009, a Twelfth Supplemental Indenture dated as of December 23, 2011, a Sixteenth Supplemental Indenture, dated as of February 28, 2012 and a Twentieth Supplemental Indenture dated as of June 13, 2012 (the indenture as so supplemented, the " Indenture"), governing its 9 1/8% Senior Notes due 2019 (the " 2019 Senior Notes"). The Proposed Amendments would amend the Indenture to permit Quicksilver to refinance its 7 1/8% Senior Subordinated Notes due 2016 (the " 2016 Subordinated Notes"), its 11 3/4% Senior Notes due 2016 and its 8 1/4% Senior Notes due 2015 by incurring indebtedness that ranks equally in right of payment to, but with longer maturities than, the 2019 Senior Notes, to permit any such refinancing of the 2016 Subordinated Notes prior to their maturity to be excluded from the covenant regarding limitation on restricted payments in the Indenture and to give Quicksilver greater flexibility to incur secured and unsecured indebtedness pursuant to offerings of debt securities in connection with such refinancing or otherwise. The Proposed Amendments will be effected by a supplemental indenture to the Indenture that is described in more detail in the Statement. The Solicitation will expire at 5:00 p.m., Eastern Time, on June 6, 2013, unless otherwise extended or earlier terminated (such time and date, as the same may be extended or earlier terminated, the " Expiration Time"). The Solicitation is subject to customary conditions, including, among other things, the receipt of valid Consents (which Consents have not been validly revoked) with respect to a majority in aggregate principal amount of the outstanding 2019 Senior Notes (the " Requisite Consents") prior to the Expiration Time. Quicksilver will pay to each holder of record of Notes as of 5:00 p.m., Eastern Time, on May 22, 2013 (each such holder, a " Holder"), who has delivered (and has not validly revoked) a valid Consent in respect of such 2019 Senior Notes, $40.00 in cash for each $1,000 principal amount of such 2019 Senior Notes in respect of which a valid Consent was so delivered (and was not validly revoked) (the " Consent Fee") if the conditions set forth in the Statement have been satisfied or, where possible, waived. Holders of 2019 Senior Notes who deliver Consents but validly revoke their Consent in accordance with the Statement or who deliver Consents after the Expiration Time, will not receive a Consent Fee. Quicksilver expects to pay the Consent Fee on June 21, 2013, assuming the Expiration Time is not extended. If the Expiration Time is extended, Quicksilver will announce the new payment date in the public announcement which announces the new Expiration Time. Holders may revoke Consents at any time prior to the earlier of (1) the Expiration Time or (2) the date on which the supplemental indenture effecting the Proposed Amendments is executed, which is expected to be promptly following the receipt of the Requisite Consents.